Hello Lions,
I hope all of you are doing well in your life and if you are a crypto enthusiast or investor, you are probably sad spending this long multi-year bear season while waiting for the golden bull market days. In today's cryptocurrency market, though it may not be performing at its best, many crypto advisor experts do believe upon the fact that it is probably the best time to consider buying cryptos and making a good portfolio with your favorite asset. The crypto industry has proven its resilience over the years as it has experienced many scary drops and dumps in previous but legends say that these down markets are actually opportunities for investors. If we take into account the current situation, one of the key factors influencing the market right now is the negative news circulating from the SEC aka Securities and Exchange Commission in the USA as on 6th June, it sued the 2nd largest crypto exchange COINBASE for allegedly operating an unregistered crypto trading platform and a similar case is also going with Binance, the top global exchange. These types of news updates have impacted the market in the past as well and I guess you haven't forgotten the case of terra luna which started with the fall of 4th largest stablecoin UST when its market cap was 18 billion USD according to coinmarketcap. These types of unfortunate incidents not only affect the direct or indirect investors but also leave a scar never to be forgotten and these types of negative news also make many people consider crypto as a fearful area to learn or invest.
Source
In the crypto market, the importance of current and historical news should not be missed by us who are active in this sector. News has a direct impact on the crypto market where positive news tends to boost the market forward and negative news can have a negative impact on crypto prices. If we take a closer look at the current price rate top 10 cryptocurrencies, all of their prices have experienced a downward trend in the last couple of months. The current negative news surrounding Binance US and Coinbase has undoubtedly affected these prices and created fear in the market on top of the bear season. However, it is encouraging for us to watch some recovery after they hit a certain low point as well which indicates that the market has matured more than its initial period and can bear challenges and survives. Moreover, it is also important to remember that no country or government in this world has the complete power to ban blockchain or cryptocurrencies. They can distance themselves from this financial revolution, they can set immoral taxes or certain laws to make high barriers but their reluctance does not affect the overall growth of the crypto market.
Blockchain is the newest digital technology that has the true potential to bring revolution in this current world but by choosing to ignore crypto and the technology, transparency and security underneath, those countries will unintentionally put themselves at a disadvantage in the long run and also fall behind in development. We have already seen some nations, such as Hong Kong and the UAE in the past few those have legalized cryptocurrencies and made significant progress and made huge profits in supporting blockchain technology and the meta-verse while some countries like China, Bangladesh or India tried to either ban them or put enormous amounts of taxes on them to make themselves a bad investing area for most of their people. If countries continue to turn a blind eye to and continue neglect this amazing emerging sector just because of some rectifiable matters or personal agendas or from the baseless fear that crypto will demolish the existing monetary system, they will ultimately risk of falling behind and facing difficulties when leading the way in the future.
Performance of Leo
Source
Despite the market's unfavorable sentiments for a long time now, our Leo token has proved its real worth with its growth. But, many would wonder about the reason behind this positive price trend for Leo where even most of the top currencies are failing to come up. Well, I think one possible explanation for this uptrend could be the result of the adoption campaign that the Leofinance team recently launched in collaboration with Zealy which just finished some days earlier. This successful campaign has attracted a large number of individuals not only from the hive but from outside the platform as well and also encouraged them to invest in Leo tokens. The Leofinance team launched their new product Threads just recently which is a short-form content-sharing platform like Twitter but made on a decentralized hive chain where creators can get monetized for their effort and in order to spread it to the world, they decided to launch the campaign and it is undeniable that the adoption campaign has garnered significant attention upon the Leo token. Furthermore, the team has also launched Leo Ads where ads will be displayed on the Leofinance front end which will generate a good amount of revenue and all of that will be used to push Leo Further. The team behind Leofinance has putting continuous efforts to expand its use cases like the 2 I just shared above and will likely contribute even more in the future which surely result in more price appreciation for Leo. I would not even be surprised if I see Leo token reach or even cross $1 value within the next 1-2 years because I have personally felt its true potential after engaging first-hand for a long time.
Enhancements to the Leofinance UI
Source
Not only they have created such an amazing and unique project Threads in Leoverse but they have also integrated this into a new user interface which they are continuously improving to bring us users the best possible experience. They have already merged both long-form and short-form content in the same website with multiple changes and upgrades every now and then, the team has been working tirelessly to make it faster, better and more user-friendly. They have worked on the UI (user interface) and designed it in such a way to be easily used and it also looks very simple to use that after a few minutes of use, one can fully understand how it works. However, it is still in the alpha phase and only launched around 1.5 months ago only, so there are still a few areas that I believe require attention, but I also admit that the Leo team is working 24 x 7 on the clock to resolve them or make them better for us. Their goal is to create a social media interface that is built in and simplifies Web 3.0 technology while also allowing people to engage with it effortlessly similar to currently trending Web 2.0 social media platforms like Twitter or Facebook. Not only that, but this platform gives us the ability to earn rewards for our contributions by sharing threads or commenting on others’ threads. Many users including me are already liking the new Leofinance and using it on a daily basis just like we use those social media sites. But unlike other social media where we don't earn anything for our work, at Leofinance, they have opened that door also and given us freedom with a censorship and centralized free platform where we are earning for sharing our stories, photos and thoughts.
Last but not least, I personally think that the current position of the crypto market is an ideal time for investment. Despite all negative news circulating and impacting prices, the market has not gone down to 0 which certainly proves its resilience and ability to recover. Many new countries are embracing cryptocurrencies than banning or insane taxing and supporting their development and potential in our modern world, while some are still ignoring this revolutionary technology and are slowly falling behind. Yes, I admit that crypto is a vast space and wild West and many of the projects and even chains that you see don't contribute any real value or not solving any problem. Thats why many projects that you are seeing now won't exist before the next cycle, but our Leofinance project and its Leo token are actually creating products or projects that are creating value and I strongly believe it has the potential to become the next Twitter of web3 and bring insane returns to its investors in long run. However, it is just my personal thoughts and I am not a financial advisor so please do your own research DYOR before investing in any crypto assets.
That’s it for today guys and I hope you all liked reading my post above. If you have anything to share, please let me know your thoughts and feelings in the comments below as I will be very happy reading and replying to them. I will be seeing you all in my next post, until then take care and keep hustling!