I think the issue with LEO, especially for new traders/users is that there isn't much history with it and it is a very small market cap. The vast majority of these types of coins eventually become worthless. These new users haven't really dug into exactly what LEO has going for it and what it has coming down the pipeline in terms of growth plans. Then there is also the likelihood that they don't understand how they can use their LEO to earn more LEO in terms of voting and eventually as an LP. Once they really start to understand all of that, the start to become HODLers.
For the older users that are constantly sellers, well for them, perhaps they will just never fully buy into the LEO story no matter how great it looks. That or perhaps they just need the money in real life. :)