Another info is that PAL has 15.4M vs LEO has 4.2M in circulation. However, PAL has no specific niche (similar to Steemit). Today, PAL has reached almost parity with LEO at 0.1 Steem. Considering, past glory of PAL (0.78 Steem), LEO is holding quite well. According to founders, LEO have 8 sinks to burn which is a great selling point:

At the present moment, we've got about 8 sinks that are continually operating to burn LEO tokens from the circulating supply. Source

Also, there are 22+33=55 accounts in LEO that holds at least 10K LEO, on the other hand 37 accounts in PAL has 10K PAL, out of them 15 are moderators. Therefore, 40 LEO whales (excluding PAL moderators who got airdropped LEO) vs 22 PAL whales. It means there are investors who are buying LEO.

https://steem-engine.rocks/tokens/LEO/richlist?sort_field=delegations_in&sort_order=desc
https://steem-engine.rocks/tokens/LEO/richlist?sort_field=stake&sort_order=desc