We have already write an article about Bitfinex token sale, and how they have raise 850 million dollar in a private sale.
Following LEO token after its official launch, the price rose 70% and currently trades at $ 1.72 and has a market capitalization of about $ 1.7 billion.
We mentioned earlier that the Bitfinex platform for digital currency trading intends to raise $ 1 billion through the sale of LEO token.
The company’s technical director then officially announced through social media platforms that Bitfinex managed to raise $ 1 billion in 10 days, and a number of companies invested $ 100 million each in addition to a number of individual investors, which was covered.
Since LEO started trading on the Bitfinex platform, the price has started to rise to $ 1.72 with a market value of over $ 1.7 billion, according to the chart below.
What is LEO Token?
According to the project worksheet, LEO token will be used to reduce trading fees on the Bitfinex and EthFinex platforms. It will also be used for a number of features and benefits on the iFinex platform.
What distinguishes the currency is the platform’s commitment to repurchase and burn currencies on a monthly basis. Where the equivalent of 27 per cent of monthly LEO revenue will be used and burned.
In addition, 95 per cent of the $ 95 million net refund from Crypto Capital will be used to repurchase and burn tokens, as well as 80 per cent of the funds expected to be recovered from the earlier breakthrough of the Bitfinex platform.
Please note, that is not a bit of financial advice, nor the WhaleToBe team’s view