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Why LEO Token Is Plummeting Today

TheMotleyFool

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Bitfinex's UNUS SED LEO Token (CRYPTO: LEO) is giving up some ground today after posting huge gains Tuesday. The cryptocurrency's token price was down roughly 9.3% over the previous 24-hour period as of 3:15 p.m. ET Wednesday. Meanwhile, Bitcoin (CRYPTO: BTC) was up roughly 3.3%, and Ethereum's ether token was up roughly 6.3%.

LEO Token posted huge gains Tuesday following news that the U.S. government had seized roughly $3.6 billion worth of Bitcoin that had been stolen from the Bitfinex exchange in 2016, but the token is now seeing some sell-offs. Even with today's pullback, LEO is up roughly 62.5% over the last week of trading.

Image source: Getty Images.

Source Fool.com

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