Over the last month or so the change in the dollar value on my HIVE Engine wallet has changed quite dramatically due to the Leo token value rising. This has obviously impacted the Leo Backed Investment (LBI) token that I had virtually given up on having purchased those in 2021.
It was not that long ago I mentioned to someone this was probably the worst investment I had been involved in and now look how things have turned around. I cannot even recall how much 1 LBI was, but I think it was 1 HBD or something along those lines.
The L2 tokens have always been a high risk and an investment that was rather more about supporting the eco system than an investment in itself. The majority of the tribe tokens hold no dollar value with so many having crashed to virtually no value.
Back in 2021 at the peak of the last crypto cycle the Hive Engine wallet portfolio did kind of shock me having achieved a valuation of more than $25K so you just can never tell what is going to happen. The problem I noticed is that valuation was on paper and for the majority the liquidity was not there so it was never really a true indication of what it was worth. Possibly a truer reflection would have been $8K and not the $25K and why I have been more hesitant and stuck with HIVE being the main focus.
What Leo has done so far with their latest changes has transformed the token especially with the team doing the buy backs using the exchange earnings. One doe not have to be overly smart to see that moving forward the Leo token is only going to rise in value due to the supply now being deflationary with a set limited number of tokens.
The rise over the last week has been big and this will be the case whilst Leo is still regarded as cheap as the buy backs will make a bigger difference now than later. The higher the price the slower this will be due to the price having risen, but this will still have an effect continuously on the price.
Who can forget when the LEO token was worth more than HIVE as no one thought this was possible. I don't have huge amounts of LEO with roughly 30K and 2.1K LBI, but it is worth something at least and who knows how much this will turn into when HIVE rises as this impacts the HIVE Engine significantly as every token is backed against HIVE. After seeing what has happened over the last few weeks with LEO there is a high probability we could see a $1 or $2 LEO token this year which would be remarkable. With crypto we know things can change very quickly and this is highlighting you just never know what to expect next.