Tracking The Price Of Leofinance Token (Leo) With Respect To Price Of Avalanche (Avax)

In the era where crypto currency would be widely used for trading will call for econometric analysis in order to answer some questions of investors.

In this guide, I will attempt to predict the price of Leo using avax.

The following shall be considered as subheading in this study.

A brief about leofinance and Avalanche

Conditions for tracking price of leo using avax

Estimated Model for tracking Leo price using avax.

Conclusion

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A brief about Leofinance and Avalanche

Leofinance
Leofinance is a blogging platform that supports crypto currency. Its native token is leo and blogs must be in relation to leo contents as well. Leofinance is been hosted on the hive block chain. To learn more about leofinance, visit the link below
https://leofinance.io

Avalanche
Avalanche is one of the low cost and user friendly crypto blockchain with the fastest contract as measured by time to finality. The native token of the avalanche blockchain is avax. To learn more about avax, visit the link below. https://avax.network.

Conditions for tracking price of Leo using Avax

To track the price of leo using avax, the following conditions must be fulfilled.

Model summary
The summary of this model shows that the price of avax will be used for predicting leo and the result can be trusted 75%.

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Correlation
Analysis of relationship between leo and avax shows a high degree of strong positive relationship ( r = 0.867).

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this indicates that as the price of avax is in a bull that of leo will experience a bull, if it’s in a dip, the price of leo will also be in a dip at same rate.
Details of this is explained in the anova section

Anova
Anova in prediction is used to check for relationship between the variables. Especially if they are multiple variables. It can be seen that the result of anova rejects its hypothesis that there is no relationship.

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There seem to be an obvious relationship between the price of leo and that of avax.

Normality
Normality test becomes robust when there are enough data. It can also be seen below that our data is normal.

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Estimated Model for tracking Leo price

To track the price of leo token using avax coin, it essential to make use of the B coefficient.

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Price of leo = 0.006 + 0.003 * price of avax

I will test this formular using the price of avax on 31st of august, the price was $19.76.

Price of leo = 0.006 + 0.003 * 19.76

Price of leo = $0.065

Due to the estimation in our data, it can be estimated as $0.7 but when considering the price of leo at that same data in variable view mode, the price was $ 0.0718.
However, a difference of $0.0018.

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Data view

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Variable view

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Maximum and minimum price of leo and avax.

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