Hello, this is my 1st post in 2023 and from today, service will go back to normal after taking a few weeks off for Christmas.
So what is in store for LBI in 2023? The real question is what is in store for LEO in 2023 and when I say that, I mean its price. LBI is a fund to make money so the price of LEO is very important.
Let's go back 1 year and see whats happened with both the price of LEO and its circulating supply.
Not a pretty chart but 2022 was not a good year for crypto and 90% of the charts for other tokens in the market mirror this. Price is down 80% which is not to bad considering LEO is a small market cap token.
Jan 2022 Marketcap - 9 million LEO x $.25 = $2.25 million
Jan 2023 Marketcap - 13.2 million LEO x $0.045 = $0.6 million
The first thing that pops out to me is the increased LEO token supply. This increase is 46%. That is a fooking huge number, it's actually so big I have had to double and triple-check the numbers im using. I going from, on the chart the top of the yellow section (staked plus liquid) so Jan 22 is roughly 9 million and Dec 22 is roughly 13.2 million. More than this has been minted but millions have been burned at the same time, they used to include this in the charting but no longer do.
Im actually blown away by that. I mean the numbers are there so I guess LEO inflation for the past year has been 46%.
Im sat here at my desk staring at the screen for 5 minutes in shock. Are the numbers im using right? I have completely lost my train of thought and forgot what the hell I was writing about.
What 2023 looks like for LEO now knowing the information above
Well, I guess if inflation is near 50%, we can expect to see another chop in LEO curation rewards, it might drop to 5% 🤣. If inflation is 50% per year, by the next bull run there will be 30 million LEO in circulation 😮. LEO would need a total market cap of $36 million 🤑 to get LEO tokens back to all-time highs of over $1.20🤨, it only needs to be 60x from today, that's 1x a fortnight 🤪
You know what? im not going to write anymore. I have gone sarcastic and that leads to a rant and I could be wrong. Im still not 100% about those circulating supply numbers, I mean I see them there on the chart but I dont believe it. It's just too freaking high.
Im sure the comments will be interesting and there is maybe something im not aware of that factors into this hugely but im looking at the chart, i snipped from this post here from 20 days ago and is the most up to date one posted.