Yesterday @leofinance tweeted the Leo token graph and how fragile the sell wall really was. I thought it will slowly be eroded away by eager buyers as we are all expecting big things ahead for this token. Maybe it was the post about the airdrop, but I think it is just a culmination of good news over the last few weeks and everything that is going on.
I looked a few hours ago to compare and see what changes have happened and the selling wall has virtually been bought up. Yesterday we had over 13 000 Leo in the way before seeing x 10 Hive in value and now only 4700 which highlights the lack of liquid Leo available on the exchange.
I must admit it is going to slow my growth rate down quite considerably as I was trying to stake a good 20 Leo everyday and now have lost a big chunk of growth as the price is up around 25% in no time at all.
All it goes to show is what we already know and that this is a decent project with a decent team behind it and this proves just that. How high can Leo go is the question we are all asking ourselves right now. Obviously 2.5 x Hive wasn't that hard as that didn't take too long.
What happens if it all goes and there is no liquid left as everyone is holding on to their precious Leo? is that when it just goes up as there is nothing in it's way? Surely that can only happen in extreme cases or does it happen often as I have never seen this sort of thing before. This is virtually the total opposite scenario we have all witnessed on the tribes and is rather refreshing to see.