Kraken’s Vice President says inflow of ‘professional traders’ with ‘legitimate money’ could have spurred bullish trend

click here to see original post

Bitfinex’s Leo tokens faced quite a lot of criticism when they were announced, due to the missing $850 million funds from Bitfinex. The private investment round by Bitfinex also faced a lot of heat from the media. However, in a recent development, Leo tokens are being listed on various exchanges for trading.

Leo token’s listing was announced yesterday (24 May) on a Chinese exchange, ZB.COM; in addition to this, the tokens are being listed on various exchanges, such as “Delta Exchange”.

Delta Exchange tweeted:

🔥🔥 $LEO perpetual contract is now live on Delta Exchange. Long/ short LEO with up to 20x leverage. The contract is margined and settled in $USDC. #CryptoNews #CryptocurrencyNews $BNB #BTC

Bitfinex had previously announced that Leo tokens will start trading on the exchange on May 20 and will be paired against BTC, USDT, USD, EOS, and ETH; at press time, the tokens were priced at $1.26 and had a 24-hour trade volume of $4 million as per CoinMarketCap.

A lot of prominent people in the community are cautious about the Leo tokens due to their connection with Bitfinex, Tether, iFinex, etc. The CTO of Bitfinex, Paolo Ardoino, tweeted:

“Lions are spreading. This is precisely the strong and unite community support that we have been talking about in the Unus Sed $LEO whitepaper (link: https://www.bitfinex.com/wp-2019-05.pdf) bitfinex.com/wp-2019-05.pdf
Thanks @balanipankaj and @Delta_Exchange @bitfinex.”

Despite the negative news surrounding Bitfinex and Tether, there has been a massive influx of USDT hitting the market. The market cap of Tether increased by a massive $100 million in over 60 days, which caused the market cap to reach an all-time high since its inception.

Bitcoin has been stuck in a sideways movement, hovering closely near the $8,000 point, while people speculated that the massive burst in Tether’s market cap might move the price of Bitcoin.

Share !