LEO and PAL updates from a trader's perspective: LEO going strong and PAL finding support at lower level.

in #steemleolast year (edited)

LEO and PAL is a story of two polar opposite coins. LEO is a token for niche that serves the investing community. On the other hand, PAL token serves all kinds of content creators. PAL along with NEOXAG, MARILIANS are vying for Steem's criteria, jack of all trades which is hard to compete.

Earlier, Palnet.io had a serge on optimism due to having better trending page without the influence of BidBots.

Since EIP in HF21 and HF22, Steemit's trending page got better and better. It may have dampen the demand for common interface like Palnet or Marilians.

Among the common interfaces, Neoxian.city arguably performing better due to better economics compared to Palent and others Nitrous instants.

PAL went as high as 0.78 Steem in its heydays and had a support at 0.45 Steem for a long time.

Yesterday it went down 93% to mere 0.03 Steem from its peak. Then PAL bounced from the low of 0.03 to 0.042 Steem. There is a huge support around 0.03 to 0.04 Steem level. Order of 100K PAL buy wall have spurred a strong support around 0.04. However, current economics and sell pressure do not bode well for PAL's future.

Great_demise_of_PAL.png

Any bounce can be sold off due to fall of confidence.

On its crash to 0.03 Steem, PAL's marketcap crashed from $1M to mere $62K which is almost half of CreativeCoin and LEO.

However, long term appreciation does not look bright for PAL. It could be that nobody wants to hold PAL since its price is ever declining. It could be also that large number of content creators are treating PAL as just another free lunch.

PAL_great_wall.png

Moreover, there is no incentive for big fish to stake in PAL, considering PAL curators are rewarded handsomely which may dilute their stake.

Rewarding the curators is misaligned since they already have large stake and could have earned large curation reward. Moreover, the PAL curators already got large airdrops of LEO, and other other tokens, which should compensate their windfalls.

Moreover, PalNet updates are scarce and sinks like Ad Profit are not large enough to hold PAL from decline. PAL held at 0.25 and 0.11 Steem for some time with the help of buy walls from a PAL whale. However, economics caused the enough sell pressure to ensure eventual decline of PAL to a lower level.

PAL_marketcap.png

On the other hand, LEO has 55% upswing yesterday. It went from 0.16 to 0.248 Steem. LEO's markecap has been doubled that of PAL. It could be due to the recent upgrades. However, LEO already has highest number of sinks that inspire investors to take more stakes. It looks like LEO's economy is working. Moreover, LEO is really feel like deflationary due to all the sinks.

Moreover, there are few whales who are in a big race to buy up LEO at any cost as high as 0.25 to 2 Steem. It also make sense to have a specific niche to discover proper contents for the consumers.
PAL_vs_LEO.png

However, looking into the pending unstake, it looks like LEO is going to have HUGE sell pressure. in near future

Most beneficiaries of airdrops have been already exited. But there are still few LEO holders who may see this LEO uptrend as opportunity to dump their tokens which is quite healthy for the trading volume.

It has to be seen whether LEO can survive this upcoming sell pressure.

However, at this moment journey for both PAL and LEO looks polar opposite. However, things may change in future due to the future actions of founders, curators and stakeholders. In Cryptos, nothing is certain!

Disclaimer: This opinion is not a financial advice, it my personal perspective and opinion. Please seek professionals for financial decisions.

steem_speed.jpg

Image sources: Most images are open sourced (e.g. Pixabay, Wikimedia etc.) with Creative common license. Some images are used with due courtesy to respected owners.

Thanks for reading.
@dtrade
Cryptominer , occasional trader and tech blogger since 2013

Sort:  
 last year (edited)

Its interesting to see how the small thinga can contribute a lot. A change in the sentiment that creates big difderence.

About the possible sell of the PAL beneficiaries I'm putting buy orders for a week now and cant get any LEO :) ....Moving it higher and higher each day .... so I wouldn mind some sell of atm :D

It is game of patience: last night 1500 LEO got dumped from 0.0171 to 0.1607, where Ask was 0.22.

With the new sink and upgrade on the Leo condenser I think Leo and sports is the best tribe to invest in at the moment because they both have a die hard user base that are prepared to hold and see their community flourish. Although we are still building ours token it's not a tribe just and exchange token for traders in our exchange on instant messenger

Wow! Pal Really crashed! How low will it go.

0.03-0.04 has heavy buy support. If selling continues it will take months to break down. It could be 0.01 Steem when PAL founders have to take action or will run out money to maintain the site.

I guess I managed to buy some Pal before it tanked. :( I might have lost 1 Steem on the deal? I dunno.

I did put in a bid on Pal today and then I saw I had some Pal to sell and then I tried to sell it and I have now cancelled my bid. lol

Do you have 18.95921 of Sttemp laying around? If so maybe I would rambo trade some TROLL. LMAO.
https://steem-engine.com/?p=market&t=TROLL

I'm surprised TROLL isn't more popular. I think the creator of the token missed out on an opportunity to make TROLL the Dogecoin of Steemit.

I gave away thousands of TROLL in my previous giveaways.

Awesome post, well written with great analysis and details. We are so early in the game for Steemleo, that the potential sell off will just be a pull back as their is a whole frontier or people that have yet to discover Steemleo.

Thanks, definitely, it will also provide opportunity buyers who are in sideline waiting to enter at certain price point.

Thank you for posting from the https://steemleo.com interface 🦁

Congratulations @dtrade! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

You published more than 70 posts. Your next target is to reach 80 posts.

You can view your badges on your Steem Board and compare to others on the Steem Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

To support your work, I also upvoted your post!

Do not miss the last post from @steemitboard:

The new SteemFest⁴ badge is ready
Vote for @Steemitboard as a witness to get one more award and increased upvotes!