What coin is Lion Coin? Are Lion Coins valuable?

Lion Coin: The platform currency of Bitfinex exchange

Lion Coin (LEO) is a platform token issued by Bitfinex Exchange. It was first launched on May 20, 2019. issued. Its total circulation is 1 billion, and its full name is UNUS SED LEO, which means "the only scarce lion" in Latin.

Use

The main uses of LEO coins include:

• Transaction fee reduction: Holding LEO coins can enjoy transaction fee reduction and exemption on Bitfinex exchange. The greater the amount, the higher the reduction ratio.
• Participate in IEO: Bitfinex exchange will hold IEO regularly, and LEO currency holders can participate in the subscription first.
• Mortgage lending: LEO coins can be mortgaged and borrowed on the Bitfinex exchange.
• Repurchase and destruction: Bitfinex exchange will regularly use profits to repurchase LEO coins and destroy them to reduce circulation and increase currency prices.

Value

The market capitalization of LEO coins depends largely on the performance of the Bitfinex exchange. As one of the world's top cryptocurrency trading platforms, Bitfinex exchange has an extensive user base and an excellent reputation. As long as the Bitfinex exchange can continue to maintain a steady growth trend, the demand for LEO coins will also increase accordingly, which will help support the price of LEO coins.

In addition, LEO coins also use a repurchase and destruction mechanism to support the currency price. According to Bitfinex exchange’s plan, they will gradually repurchase and destroy 50% of the total amount, which is 500 million LEO coins, over the next few years. This move will help reduce the circulation of LEO coins, which may drive up the price of the currency.

Market Recognition

LEO currency is one of the platform coins with high market recognition. In CoinMarketCap’s platform currency rankings, LEO currency ranks high.

Investment Suggestions

Investors can decide whether to invest in LEO coins based on their own circumstances. The development prospects of LEO currency mainly depend on the development of Bitfinex exchange. If you are optimistic about the development of Bitfinex exchange, you can consider investing in LEO coins.

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