During this stressful week, LEO, the native token of the Bitfinex cryptocurrency exchange-has been doing well. As per CoinMarketcap’s statistics, it is up 22.28% in the last week while the rest of the crypto market struggles.
The majority of coins are still unsteady after suffering from heavy losses last week. However, UNUS SED LEO, the 18th largest currency by market cap, is also displaying an almost 2.79% gain in the previous 24 hours.
A rival cryptocurrency exchange, FTX liquidity issues led to LEO strong surge in value. After FTX declared bankruptcy, many investors demanded that exchanges reveal their proof of reserves.
Some individuals even went so far as to demand that they release information about the size of their cold wallets. Most prominent cryptocurrency exchanges, including Bitfinex, revealed their cold wallet storage in response to this demand for transparency.
The chief technical officer of Bitfinex, Paolo Ardoino, provided a list of the most popular Bitfinex wallets as proof of his commitment. The Bitfinex proof of reserves post on GitHub by Ardoino included information about 135 cold and hot wallet addresses altogether.
He spared consumers the bother of searching through the addresses by providing a list of the company’s significant assets, including 204338.17967717 Bitcoin and 1225600 Ether.
After LEO, the native token of the OKX Exchange, OKB, came in second place as a weekly gainer and has experienced significant growth in a bearish cryptocurrency market.
On the weekly chart, the price of the utility token increased by 11%, but the 24 hours chart shows a decrease of about 4%. The token is currently trading at $19.84.
The price increased when the exchange announced the availability of $100 million in recovery funds to assist ventures facing liquidity issues just one day after Binance CEO “CZ” suggested a similar industry recovery fund.
LEO Lags Behind The Most Popular Coin
Cronos (CRO), the native coin of Crypto.com, has suffered a substantial loss of about 9% over the past day and 7% over the past week. The catastrophe at FTX has now switched attention to competitor Crypto.com.
Alarm among cryptocurrency experts was raised by the revelation that the exchange sent $405 million to the incorrect receiver. Up until the CEO had a YouTube session to address the problems, the FUD (Fear, Uncertainty, and Doubt) damaged Crypto.com’s reputation and its token, CRO.
Moreover, the past week has seen unprecedented price increases for Trust Wallet Token, and the coin has accumulated over 90% gains on a week-to-week chart. But unfortunately, all of TWT’s significant gains were erased before the week’s end.
According to Coinmarketcap’s data, TWT is currently trading at $2.03 with losses of about 1% in both weekly and daily charts. The data also reveals a number of the most popular currencies are experiencing large losses on the weekly charts, including Ethereum with an 11% decrease, Dogecoin at 13%, MATIC at 15%, and Solana in the lead with a 20% loss.
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