PANews reported on February 25 that, according to The Block, Vetle Lunde, head of research at K33, pointed out that Bitfinex's LEO token is currently trading atPANews reported on February 25 that, according to The Block, Vetle Lunde, head of research at K33, pointed out that Bitfinex's LEO token is currently trading at
Analysis: The LEO premium may indicate that the process of handling the stolen Bitcoin from Bitfinex is nearing its end.
PANews reported on February 25 that, according to The Block, Vetle Lunde, head of research at K33, pointed out that Bitfinex's LEO token is currently trading at a premium of about 60% over its implied fair value, which may indicate that the market expects new progress in the handling of the Bitcoins seized during the 2016 Bitfinex hack.
Currently, approximately 94,636 bitcoins related to this incident remain frozen, representing about 30% of the US Strategic Bitcoin Reserve, and are undergoing legal proceedings to determine victims' claims. According to Bitfinex's 2019 commitment, if the assets are recovered, 80% will be used to buy back and burn LEO tokens. Analysts believe that if the court rules to return the bitcoins to the victims rather than have them confiscated by the government, approximately 75,000 bitcoins could gradually enter the market over 18 months, with an average daily sell-off of about 139 bitcoins.
Market Opportunity
Blockstreet Price(BLOCK)
$0.006137
$0.006137$0.006137
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Blockstreet (BLOCK) Live Price Chart
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