The LeoFinance platform has been making headlines in the world of web3 for its innovative approach to finance and social media. With the recent launch of Threads, a microblogging platform on the Hive blockchain, many including me, were expecting the price of the LEO cryptocurrency to rise. However, this has not been the case, leaving many users and potential investors wondering why.
Pretty much in the past 3 Months, the price moved in the $0.04-$0.06 interval without any breakout from this pattern. While there were some bigger heartbeats, the overall trend seems to be downwards. With the infusion of new users onboarding and increased microblogging, after Threads launched, I must confess that I was expecting an uptrend to settle in and together with LeoAds kicking in (still planned somewhere in the future), to have a good race to the top. Let's not forget that $LEO was valued in the past at over $1 and while we are far away from that, maybe with the new developments we might retrace a positive path. But until that happens, let me try to see if I can find some reasons why we are still not breaking the bearish market pattern.
Overall market sentiment
One possible reason for the lack of price increase could be the overall market sentiment. The cryptocurrency market has been experiencing a period of uncertainty and volatility, with many assets experiencing price fluctuations. The current market conditions have affected the price of HIVE as well and considering that $LEO is quite dependent on that as a second layer token on the Hive blockchain, this might have made it to remain stagnant despite the launch of Threads.
Exposure of the platform
Another potential factor is the exposure of the platform within the crypto community. While LeoFinance.io has a dedicated and active user base anchored in the Hive ecosystem, it still has not gained the same level of exposure and adoption as other popular blockchain-based platforms such as Ethereum or Binance Smart Chain. As a result, there may be fewer users and investors who are seeing and acknowledging the value of LEO, which could explain why the price has not increased significantly.
Threads is in the early stages
It is also important to note that the launch of Threads is still in its early stages, and it may take some time to gain traction and attract a larger active user base. With the adoption of the crypto-Twitter app on a bigger scale, there may be more demand for LEO, which could eventually drive up the price.
Focus on long-term sustainability
Furthermore, the Leo Finance team has been focusing on long-term sustainability rather than short-term gains. The team has been implementing various measures to ensure the growth and stability of the app at the infrastructure level, while including introducing new features and growing organically the community. While this may not result in an immediate increase in the price of LEO, it could lead to long-term sustainability.
In the end, I think that beginning with the launch of Threads, there is a shift in thinking for Leo Finance platform's evolution and a new vision of how blogging and microblogging can cohabit on the same product and get the best out of them in the same time. This ultimately will determine the success of the project. If we couple this with the already established community around Leo Finance and a steadily growing user base from which Ads can be harvested and put back into this ecosystem, we might see a healthier uptrend when these all align and are released.
Posted Using LeoFinance Beta
