LEO Token: 264 Bitcoin Return to Bitfinex

A US government wallet transferred roughly 264.863 Bitcoin, worth about $22.87 million, to Coinbase on Tuesday. The coins come from the holdings stolen from the crypto exchange Bitfinex in 2016 and secured by US authorities in 2022. For holders of the LEO Token this is no footnote: Bitfinex has committed in writing to spend at least 80 percent of the remaining net proceeds from this very reflow on buying back and destroying its own token.

The price has barely reacted. LEO trades at $8.90 and has moved 0.4 percent over seven days. The calm has a cause that has nothing to do with the Bitcoin reflow, and it is the real thing to examine for anyone looking to hold or buy the token in Germany.

LEO Token at $8.90: the week in numbers

According to CoinGecko, as of Thursday evening, one LEO costs $8.90. Over 24 hours that is a gain of 0.23 percent, over seven days a gain of 0.41 percent. The daily range ran from $8.88 to $8.98.

Across the week the high was $8.99 last Sunday, the low $8.86 on Thursday of the previous week. The entire swing of a full trading week therefore comes to 13 cents, or just under 1.5 percent. In the same week Solana lost 9.5 percent and Cardano 8.3 percent, while the broader market gave way after a wave of forced liquidations that we broke down in this week's market pullback.