UNUS SED LEO is a cryptocurrency token that has gained attention for its unique features within the digital asset realm. Investors exploring the world of cryptocurrencies may find it worthwhile to understand the potential advantages offered by UNUS SED LEO.

By delving into the specifics of this token, individuals can gain insights into how it may influence their investment strategies.

Exploring the intricacies of UNUS SED LEO could provide a deeper understanding of its impact on financial endeavors, offering a more nuanced perspective on its utility and potential benefits.

Key Takeaways

• UNUS SED LEO is a utility token designed for Bitfinex users, offering fee reductions and various benefits within the iFinex ecosystem.
• The token’s value and benefits are supported by mechanisms like buyback and burn, aiming to maintain token value and provide potential value appreciation.
• Investors should carefully evaluate the advantages and drawbacks of LEO, considering factors such as market fluctuations, buyback strategy effectiveness, and economic uncertainties.
• Acquiring LEO tokens involves purchasing them on platforms like Bitfinex, unlocking discounts and services within the iFinex ecosystem, but users must also prioritize secure storage and beware of potential scams.

What is UNUS SED LEO?

UNUS SED LEO is a cryptocurrency token designed by iFinex, offering Bitfinex users discounts and benefits.

How LEO operates, its advantages, and potential drawbacks are crucial points to consider.

Understanding the history, functionality, benefits, and risks of UNUS SED LEO is essential before deciding to invest.

A brief history of UNUS SED LEO

UNUS SED LEO, also known as LEO, was introduced in 2019 by iFinex, the parent company of Bitfinex and Tether. The token was launched through a private sale that raised $1 billion, indicating strong support from initial investors.

LEO tokens were primarily created to offer benefits and discounts to users of the Bitfinex platform, such as reduced fees and access to lending and borrowing services. The history of UNUS SED LEO showcases a strategic approach to improving the trading environment and building a comprehensive ecosystem for token holders.

How does LEO work

LEO was created as a strategic utility token within the iFinex ecosystem, primarily for Bitfinex users. It offers practical benefits and fee reductions to token holders. These perks include savings on Bitfinex commissions, monthly discounts based on token holdings, and fee reductions on withdrawals and deposits.

The token operates on a buyback and burn mechanism, which adds a deflationary aspect by iFinex purchasing LEO tokens monthly using a significant portion of company profits. This mechanism aims to sustain the token’s value over time.

Benefits of UNUS SED LEO

UNUS SED LEO (LEO) offers practical benefits within the iFinex ecosystem by providing fee reductions and lending services on Bitfinex. Holding LEO tokens can lead to reduced trading fees, discounts on lending fees, and potentially lower withdrawal and deposit fees. Token holders may also access tiered benefits based on their LEO holdings.

The company actively repurchases LEO tokens, which could contribute to potential value appreciation over time. These benefits could be advantageous for both active traders seeking fee savings and long-term investors looking for potential returns within the iFinex ecosystem.

Drawbacks of UNUS SED LEO

Investors should exercise caution when considering UNUS SED LEO (LEO) as an investment due to its vulnerability to market fluctuations and the possibility of diminishing utility over time. While LEO’s buyback and burn strategy aims to enhance scarcity and value, it may not always insulate the token from the effects of financial crises.

Transparency in the execution of the buyback process is crucial to maintaining investor trust, as inconsistencies could raise concerns about the long-term viability of LEO.

Economic uncertainties could also expose investors to risks associated with the reliance on LEO tokens, as fluctuations in demand and supply may impact the token’s value.

What is the LEO token?

LEO tokens are the utility tokens within the iFinex ecosystem, offering discounts on Bitfinex commissions and other benefits to its holders.

Wondering about tokenomics and how to acquire LEO tokens? Let’s explore these points further to deepen your understanding of this crypto asset.

Tokenomics

The UNUS SED LEO (LEO) token functions as a utility token within the iFinex ecosystem, offering users various benefits. iFinex conducts token burns on LEO tokens, with at least 27% of the company’s profits allocated for this purpose on a monthly basis. This strategy aims to manage the token supply effectively and potentially enhance its value over time.

LEO holders receive perks such as reduced trading fees on Bitfinex, monthly discounts based on their token holdings, and cost savings on withdrawals.

The value of the LEO token is closely linked to the performance and profitability of Bitfinex, emphasizing the importance for users to monitor both the exchange’s activities and market dynamics to optimize their advantages as LEO holders.

How to buy LEO tokens?

To acquire LEO tokens, also known as UNUS SED LEO and issued by iFinex, individuals can purchase them on platforms such as Bitfinex. These tokens are compatible with Ethereum and EOS blockchains, offering benefits such as reduced fees and access to lending/borrowing services.

To buy LEO tokens, users need to register on Bitfinex, deposit funds, locate the LEO trading pair (e.g., LEO/USD) on the trading page, and place a buy order.

Once the tokens are bought, users can take advantage of the discounts and services offered within the iFinex ecosystem, enhancing their trading activities on platforms like Bitfinex and EOSfinex.

Is LEO token a good investment?

UNUS SED LEO (LEO) token presents an interesting investment opportunity due to its role as a utility token within the iFinex ecosystem. LEO offers benefits such as fee reductions and advantages for Bitfinex users, acting as a marketplace token for transactions on Bitfinex and EOSfinex.

Its compatibility with Ethereum and EOS blockchains further enhances its utility as a bridge between these platforms. Additionally, LEO’s deflationary mechanism, achieved through token burns, aims to create scarcity and potentially increase its value over time.

Investors considering LEO should take into account its benefits like fee reductions, dual blockchain compatibility, and security features such as the buy-back option.

However, it’s essential to be aware of potential risks associated with market volatility and the evolving nature of its utility. While UNUS SED LEO demonstrates promise with its unique features and positive market trends, a cautious evaluation of its long-term sustainability is advised before making an investment in the LEO token.

Frequently Asked Questions

What Is the Price Prediction for Unus Sed Leo?

Conduct thorough research, seek advice, and analyze trends before investing. Balance potential gains with market risks. Your diligence shapes your success in navigating crypto seas.

Unus Leo Is Current price?

The current price of UNUS SED LEO is $5.71 with +3,78% in the last 24 hours.

Where Does Unus Sed Leo Come From?

Originating from iFinex, the parent company of Bitfinex and Tether, UNUS SED LEO (LEO) tokenizes with benefits for Bitfinex users. With a name meaning ‘one, but a lion,’ LEO roars with discounts, lending services, and compatibility with Ethereum and EOS blockchains.

What Does Leo Crypto Do?

Leo crypto offers fee discounts and benefits to Bitfinex users. It’s compatible with Ethereum and EOS blockchains, providing unique features like fee reductions and lending services. Consider market risks and benefits before investing.

Conclusion

UNUS SED LEO (LEO) is a cryptocurrency token that operates within the Bitfinex trading platform. LEO tokens offer users benefits such as reduced trading fees and access to lending services on Bitfinex.

Investors may find potential growth opportunities and rewards by holding LEO tokens. By utilizing LEO, users can optimize their trading experience and potentially enhance their investment strategies.

It’s important for individuals considering LEO to conduct thorough research and assess the token’s utility within the Bitfinex ecosystem before making investment decisions.

Other Cryptocurrencies to check

Byte Crypto, Metacade Crypto, Galaxy Fox Crypto, Birdies Crypto and Coreum Crypto.

Angel Marinov is the Managing Editor at Coinlabz. With extensive knowledge of crypto payments and blockchain use cases, Angel is a trusted source of accurate and timely information

In this article, we will analyze why Trump’s victory might be the most significant event in cryptocurrency history.

Two weeks after surviving an assassination attempt, Trump addressed a Bitcoin conference, declaring the U.S. would become the world’s cryptocurrency and Bitcoin capital. He announced that the U.S. government would never sell a single Bitcoin, that pro-crypto regulations would be implemented, and most notably, that the U.S. would establish strategic Bitcoin reserves, modeled after existing gold and oil reserves.

Pro-crypto politics significantly contributed to Trump’s victory, especially given that the crypto community is younger, tech-savvy, urban, and, by definition, has historically leaned toward Democrats. Key figures in his administration, including Elon Musk, Vivek Ramaswamy, J.D. Vance, Scott Besant (Treasury Secretary), Paul Atkins (SEC Chair), and RFK Jr., are pro-business and pro-crypto. 

With such monumental promises and even greater expectations, all the ingredients for a significant bull run in the cryptocurrency market seemed to be present. But when something appears too certain, is it always the case?

However, history teaches us that when market expectations are high, the actual outcome may not always meet those expectations. Many investors have already taken long positions, effectively betting on the anticipated outcome.

While short-term considerations like historical price movements and the time elapsed since the last Bitcoin halving are relevant, this analysis will explore a different perspective: that Trump’s victory ushered in a new era where existing market paradigms no longer fully apply.

1. Bitcoin ETFs

The approval of Bitcoin ETFs in January 2024 allowed Wall Street and institutional investors to enter the Bitcoin market, previously inaccessible. Bitcoin ETFs have become the fastest-growing ETFs in history. BlackRock’s Bitcoin ETF amassed more assets in less than a year than its Gold ETF did in two decades. Ethereum ETFs followed suit, and discussions regarding Solana and XRP ETFs gained traction.

2. Bitcoin in Corporate Treasury Strategies

An increasing number of companies are incorporating Bitcoin into their treasury strategies to preserve capital. These strategies aim to: Outpace inflation, measured by the Consumer Price Index (CPI). Outperform the S&P 500, which historically averages a 10% annual return. Bitcoin’s average annual growth of 100% over the past decade has made it a standout asset for capital preservation. No other asset has exhibited such rapid growth over this period.

3. Strategic Bitcoin Reserves

A key factor hinges on creating strategic Bitcoin reserves. Even after his election, Trump reiterated his commitment to this initiative. These reserves would serve two primary purposes for the U.S. government: To profit from Bitcoin’s value appreciation, driven by its capped supply and the increasing money supply. 

Historically, the value of Bitcoin tends to rise with the decline in the value of the dollar. For the maintenance of U.S. global dominance into a future where the digital economy is dominated by cryptocurrencies and CBDCs, drawing a parallel to the Bretton Woods Agreement of 1944, wherein the U.S. amassed huge stores of gold reserves before establishing the dollar as a global reserve currency, Bitcoin reserves could be the way toward a new global financial order.

If the U.S. creates Bitcoin reserves, other countries will also have to follow suit in order not to be left behind in the new digital economy. Much as countries keep gold reserves today, the reason would be as a hedge. 

4. Crypto Regulation

Then there’s the promise that the U.S. government is going to roll out friendly crypto regulation, particularly about stablecoins. While the broad EU Markets in Crypto Assets Directive has been an excessive drag, it prevents promising crypto projects. This leaves the door ajar for the U.S. to become the crypto capital of the world.

Conclusion

Trump’s victory likely catalyzed the largest bull run in cryptocurrency history. This marks a whole new era for the industry. Cryptocurrencies have become part of national strategic reserves, corporate treasury strategies, and a globally accepted asset class.

But the greater danger lies in Trump’s potential inability to deliver. He might deliver in a manner that the market did not expect. Even with anticipated delays or broken promises, the longer-term direction for cryptocurrencies seems firm. This trajectory appears independent of American leadership. Other countries, such as BRICS nations, might take leading roles in the evolving financial system.

BitconeMine simplifies cryptocurrency mining with AI-driven cloud solutions, offering secure, hassle-free passive income opportunities.

Cryptocurrency mining is one of the most popular trends in 2025. BitconeMine simplifies the entire cumbersome mining process and adopts a mining package contract model to achieve mutual benefit and win-win for users. Unlike traditional mining, users do not need to invest in expensive equipment and professional technology to manage and operate mining machines in advance. They only need an electronic device to remotely control and participate in mining. BitconeMine provider provides a safe, reliable, and transparent simple platform that makes it easy for everyone to understand and focus more on returns.

Current cryptocurrency mining is usually costly and requires technology, expertise, advanced equipment, and high electricity consumption to support the operation of current mines. BitconeMine integrates ASIC mining equipment through an AI intelligent system to improve performance and efficiency, reduce hardware costs, and greatly improve output benefits. It lets each participant get more benefits from the system.

For those looking for ways to earn passive income from the cryptocurrency market and keep it stable, BitconeMine is a smart choice, with a fixed income of $700-30,000 per day

BitconeMine advantages

BitconeMine has changed the rules of the game. Participants only need to register as BitconeMine users to get $10 for free mining without any handling fees. BitconeMine has advanced algorithms and superb mining technology, which can guarantee profitability even in the volatile cryptocurrency market.

BitconeMine features

Before purchasing a mining contract, users can clearly see each contract cycle and income, such as:

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Why BitconeMine

BitconeMine shines thanks to its AI-driven cloud mining model, which operates in a hassle-free business manner and has attracted more than 3,000,000 active users worldwide.

“BitconeMine enables people to participate in the cryptocurrency revolution without any restrictions,” said John Smith, CTO of BitconeMine. “Our support is to enable users to maintain long-term stable returns in a simpler and more efficient way to make money.”

Transparency and security at the core 

BitconeMine takes user security very seriously by employing a multi-layered identity authentication process and advanced encryption technology. The platform guarantees full transparency and precise terms of each mining contract. The real-time dashboard provides comprehensive insights into mining activities, payment schedules, and performance data, which users can easily access to increase confidence in every transaction. 

In a nutshell 

BitconeMine is committed to staying at the forefront of the cryptocurrency business as it continues to gain recognition as a mainstream asset class. With its low initial cost and huge profit potential, now is the best time to explore the world of cloud mining.

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TL;DR

• Analysts predict XRP could rise to a new all-time high if key support levels hold, with possible pullbacks to $2.80 or $2.50 seen as buying opportunities.
• A favorable resolution in the Ripple v. SEC case and the potential approval of an XRP ETF in the U.S. could drive the asset’s price higher, with optimism fueled by the changes in the SEC leadership.

Is $10 Possible?

Ripple’s XRP has been flying high ever since Donald Trump’s victory in the US presidential elections. Prior to the vote, the asset’s price hovered around $0.50, but currently, it is worth $3.20 (per CoinGecko’s data). This represents a whopping 540% increase, with many analysts expecting further gains in the following months. 

One of the people touching upon the matter is the popular X user Michael van de Poppe. He told his over 750,000 followers on the social media platform that a potential price plunge to $2.80 might serve as an optimal entry point. He also claimed that an eventual rise to $10 per coin is not out of the question. 

EGRAG CRYPTO chipped in, too. The analyst envisioned a possible retest of $2.83 and a drop to $2.50, “which is normal.” In general, though, the trader remains bullish, predicting the price to reach new dimensions if it breaks above $3.40. 

Recall that XRP almost hit that target on January 16. As CryptoPotato reported, it spiked to as high as $3.39, standing just 1% away from its all-time high registered at the beginning of 2018. 

The Bulls Are Waiting for These Developments

One of the most important factors that could positively impact the price of XRP is the final resolution of the Ripple v. SEC lawsuit (assuming it benefits the firm). Just a few days ago, the agency’s former Chairman, Gary Gensler (considered a huge enemy of the digital asset sector), resigned and was succeeded by the pro-crypto Mark Uyeda. 

This has infused enthusiasm across the XRP Army that the case might conclude with a favorable resolution for Ripple soon. The popular American lawyer John Deaton also shares that thesis. 

He claimed there are three possible scenarios for the case after Gensler’s departure. The most likely includes dismissing the SEC’s appeal of the 2023 verdict set by Judge Analisa Torres. Back then, the magistrate ruled that XRP sales on public exchanges to retail investors did not constitute securities transactions.

However, Deaton thinks Ripple will have to pay the previously ordered $125 million penalty for violating certain rules. The fine shouldn’t be a problem for the company since some execs already promised to abide by the rules. It also represents just a fraction of the $2 billion the securities regulator initially requested. 

The potential launch of an XRP ETF in the United States may also trigger upward pressure on the price of the underlying asset. A few weeks ago, Monica Long (Ripple’s president) said that such a product was “likely to be next in line.” According to Polymarket, there is a 64% chance that the investment vehicle will see the light of day before the end of 2025.

The XRP price is in the spotlight again, as a crypto analyst has shared his short—to long-term prediction for the third-largest altcoin. While the asset has experienced a series of bullish events that have driven its price to its current level, the analyst strongly believes that the cryptocurrency can jump even higher to reach $20. 

XRP Long To Short Term Price Prediction

According to a crypto analyst identified as ‘XRP Meesku’ on X (formerly Twitter), the XRP price is gearing up to skyrocket to a new long-term ATH target of $20. The analyst’s bullish outlook for the token stems from its innovative potential, as advanced developments and technological advancements tend to drive price surges in a cryptocurrency.

Related Reading

Notably, the analyst revealed that there has been ongoing speculation that XRP could be pivotal in national banking. He highlighted that many discussions have arisen suggesting that the altcoin could be used as a potential base layer for the United States (US) banking system. If this happens, it could fuel significant growth and adoption for XRP, potentially positioning it as a “global asset that is gaining traction.” Moreover, it could trigger a price increase of $20 ATH for the altcoin. 

In the mid-term time frame, XRP Meeksu predicts that the altcoin could potentially hit $8 first before attempting to break past its cycle top. He reveals that his optimistic outlook for XRP was influenced by factors such as new financial products like futures and the ongoing legal challenges with the US Securities and Exchange Commission (SEC). Based on his analysis, the crypto expert suggests that resolving these issues could spark a price rally.  

Finally, the analyst shared a short-term price forecast for XRP, highlighting that altcoin is expected to experience significant volatility, leading to price fluctuations. Due to its sharp growth potential, he predicts a surge to $3.6 or higher was possible. Moreover, the X market expert mentioned the increase in significant liquidation trends, underscoring that traders may take a long position after being forced to close due to market fluctuations.

Bullish Factors Driving The Price Surge

While the XRP Meeksu shares his long- to short-term bullish prediction for the XRP price, the analyst also outlines several bullish activities that could drive a potential surge in the cryptocurrency. According to the crypto expert, the XRP market has seen a lot of activity lately, with the price stabilizing despite spikes in whale activity. 

Related Reading

Looking at the asset’s past performances, the analyst mentions a notable transfer of $62 million to various crypto exchanges — a movement that could potentially be seen as a sell signal for strategic whale repositioning. Moreover, the CME Group has hinted at launching XRP futures, paving the way for institutional adoption and engagement in the cryptocurrency. 

Furthermore, the analyst delved deeper into the lawsuit between Ripple and the SEC, highlighting discussions about potential settlements and the conclusion of the almost four-year legal battle. Despite the lawsuit drama, the crypto expert disclosed that XRP’s overall sentiment remains bullish as analysts project more growth in the future. 

He revealed that XRP is showing signs of a price recovery and could soon hit new ATHs. Moreover, its community remains vibrant and active, sharing updates about ongoing scam threats, key events, and more.

Featured image from Adobe Stock, chart from Tradingview.com

Many participants in industry hackathons are just looking to make some quick prize money and move on to the next contest — Dominic Kwok calls them “bounty hunters.”

But EasyA, the start-up for developers that he and his brother Phil started four years ago, is looking for a different type of competitor — those who are looking to build companies that can have a significant impact on Web3. It’s an approach that has proved fruitful, with the companies coming out of EasyA’s app community and monthly in-person hackathons having raised money at a collective valuation of over $3 billion from top VC firms such as a16z crypto and CMT Digital. And EasyA’s mobile app, which helps developers easily start building their own Web3 projects, has over a million users worldwide.

At the first EasyA Consensus hackathon in Austin last May, more than 700 participants launched 100 different crypto projects, and the Kwoks are expecting similar numbers for upcoming events at Consensus Hong Kong and Consensus Toronto (if you’d like to apply for the EasyA Hackathon at Consensus Hong Kong 2025, please go here).

Here they discuss why their unique approach to hackathons, how they expect Consensus Hong Kong will differ from hackathons in other parts of the world and how Donald Trump’s election could affect the types of projects crypto developers focus on.

This series is brought to you by Consensus Hong Kong. Come and experience the most influential event in Web3 and Digital Assets, Feb.18-20. Register today and save 15% with the code CoinDesk15.

This interview has been condensed and lightly edited for clarity.

How did EasyA get started?

Dominic: So we originally launched EasyA about four years ago as the go to place for anyone to learn about the world’s best blockchains. Anyone can use the EasyA app on iOS and Android to learn about the top Layer Ones out there, like Solana, Polkadot, Stellar and Ripple’s XRP Ledger. And people can learn how to not only develop, but also launch their own projects. We also host a lot of big hackathons in person all around the world, in which hundreds of people come in person and launch projects on our blockchain partners. And the goal is to get these people not just launching, but then also founding and building startups that go on to get funded by the ecosystem and VCs.

How do you approach hackathons differently than other companies that run these?

Dominic: Two things. The first is that EasyA is very focused on founders who want to start their own companies, versus hackathon “bounty hunters.” We really want to make sure that our participants actually stick around and build their projects because that’s where we see the future of Web3 really being built from. And the second thing is most of our hackathons are single chain, so participants focus on one piece of tech and they actually launch on that one, as opposed to focusing on 50 different chains. We want to put people in front of the best ecosystems that have the most support for developers.

How do you think the Consensus hackathon in Hong Kong will be different from those you hold in other parts of the world?

Dominic: The scale is just going to be super big. We’ve already had a record number of people apply for the seats in the arena. We’ll obviously have people from Hong Kong, but then also from other Asian countries like India, Indonesia, Vietnam, Malaysia, Singapore and China. And we’re also seeing huge numbers of people from the West want to come. For many of those people, it’ll be the first time they’ve actually been to Asia.

Do you expect there to be differences in the types of projects that developers in Asia pursue, as opposed to those in other parts of the world?

Phil: There’s a geographical element and then there’s also a thematic one. A huge theme that we’ve seen come up over the past couple of weeks is AI x Web3, and a lot of developers are excited about that intersection. We’ve also seen protocols like virtuals really kick off and become very successful, so I think we’ll see a lot of that. Geographically, in Asia there are obviously so many different currencies, and we’re seeing that developers there actually understand those cross-border use cases a lot better. If you’re a U.S.-based developer, you don’t necessarily see those friction points a ton. So I think that we’re going to see a lot more of the cross border payment solutions start to flesh themselves out.

How do you think Donald Trump’s presidency will affect the kinds of projects you see at your hackathons?

Phil: Obviously DeFi has always been one of the biggest areas of product market fit in crypto — arguably one of the few that actually has that fit. But so far because of, frankly, how scared a lot of developers were in the States, a lot of people just weren’t building nor launching in the U.S. And so you’d often go on to a decentralized app and it’ll say “Oh, you’re in the States, you can’t use this.” So that’s a very visible area where we’re going to start seeing changes. Another area where you can’t participate if you’re from the U.S. is airdrops. So if you are an end user, you couldn’t really access a lot of crypto. And if you wanted to target this demographic, which of course is the wealthiest in the world, you couldn’t. So I think DeFi is really going to explode, especially in the States.

Both of you are also speakers at Consensus Hong Kong. What will you be talking about?

Dominic: Our keynote will be about why it’s so hard right now for Web3 ecosystems to attract developers now. And we’re going to be giving some of our tips on how they can attract developers more easily and at a bigger scale. Right now, Web3 firms are competing over the same developers, and the growth of Web3 devs has pretty much stagnated. And obviously at EasyA, our whole mission is actually to bring way more developers into the space. That starts with making it easy. But we’re also making several big tech upgrades that will allow developers to build much more easily on-chain. And we’re going to be revealing those on stage.

With rising costs and Government policies adding pressure, retailers and consumers throughout Britain brace for a challenging start to 2025.

Consumer confidence in Britain has fallen sharply to -34 in January, down from -27 in December, as economic concerns deepen across the nation, new research has shown.

Consumer confidence in the economy is dropping

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Consumer confidence in Britain has fallen sharply to -34 in January, down from -27 in December, especially as unemployment rates have risen.

Retailers are facing an estimated £7billion surge in operational costs due to Budget changes including higher employer national insurance contributions and a new packaging levy.

Many businesses are now considering implementing price increases and potential job reductions in response to these rising costs.

As a result of this, the unemployment rate increased to 4.4 per cent in the three months to November, up from 4.3 per cent in the three months to October. The number of workers on payrolls dropped by the most since the peak of the pandemic, too – according to the ONS.

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According to Robinhood UK analyst Dan Lane: “There’s a real worry that slowing growth in UK disposable incomes could have an outsized impact on lower-income households.”

The financial strain comes at a particularly challenging time, with retailers already grappling with reduced consumer spending due to high inflation and increased monthly budgets.

These mounting costs are putting pressure on already tight margins across the retail sector as Britons have less money to spend and save.

Consumer confidence is dropping, especially in stores that sell non-food items, which are facing lower spending and bad weather. Primark’s parent company, Associated British Foods, has lowered its sales growth prediction for 2025 after seeing a four per cent drop in UK sales from mid-September to January 4.

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In the UK and Ireland, which make up 45 per cent of Primark’s total sales, sales fell by 6.4 per cent whereas US sales were up by 17 per cent and growth in parts of Europe.

Although sales were a bit better in December, the fall season was weak due to mild weather and low consumer confidence, ABF said.

LATEST DEVELOPMENTS:

Britain is also projected to face more frequent recessions in the coming years, with downturns potentially occurring every five years instead of the historical eight-year pattern.

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Bloomberg Economics’ analysis reveals the UK’s trend growth rate has halved from 2.5 per cent to just 1.2 per cent, making the economy more vulnerable to shocks.

Dan Hanson, the chief UK economist said: “There are good reasons to think technical recessions will be more frequent in coming years than in the past.”

However, Hanson noted these more frequent technical recessions are unlikely to result in major economic downturns with surging unemployment.

GfK’s Consumer Confidence Index fell by five points to minus 22 in January, with all measures that make up the overall score down on last month.

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UK economy faces threat of ‘stagflation’ after bumpy 2024GETTY

Neil Bellamy, consumer insights director at GfK, said: “These figures underline that consumers are losing confidence in the UK’s economic prospects.”

She warned the sharp increase is “unwelcome because it’s another sign that people see dark days ahead and are therefore thinking of putting money aside for safety.”

Helen Dickinson, BRC Chief Executive noted the public mood, stating: “As the Government warns of tough times ahead, it is little surprise that the public has caught the January blues.”

The pessimism is most pronounced among older generations, with two-thirds of Boomers (ages 60-78) expecting an economic downturn.

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Labour Chancellor Rachel Reeves, speaking at Davos, emphasised the need to “turbocharge the economy” through infrastructure projects and planning decisions.

Reeves highlighted historical issues, noting: “That’s been the problem in Britain for a long time. That when there was a choice between something that would grow the economy and sort of anything else, anything else always won.”