Hardly massive. There are about 720m a day being mined so its all relative to total coin production and block halving.
Finally someone points out an important aspect, which I also pointed out: the big mine whales are not even on the market yet, and a few millions, maybe a few ten millions are already pushing down the price so hard... they will appear immediately as it gets listed on Cryptsy. It would be GREAT if it wouldn't be listed on Cryptsy for a while in my humble opinion, to save this coin.
Can you imagine what will happen when they will show up on the market and they'll throw out hundreds of millions of LEAF out there?
Can you point at least ONE coin which do not have a "whales" on the board ??
No. Can you point out at least ONE altcoin which didn't lost it's value within a few days being listed on Cryptsy? This is a general problem with altcoins. Unfortunately, no matter how good they are (and as I told I really think LEAF is very very good, and devs made everything they could, didn't just let it hang around), this is what happens with them. Whales don't mine them because they like the coin, they mine because with the easy difficulty level they make 100.000.000 coins/day, which they can sell at a few satoshis, and they make still a lot more money than mining a coin which already has a big difficulty level.
They don't care about the potential, and don't look at it as an investment. For them it's only a quicker, more profitable way for making BTC. They have very large amounts, and they will not risk to wait while their value decrease a lot. If you have 5-10 million of LEAFs, then you probably say: "what the hell, I am going to take my chance, put a sell order at 40 satoshi, and if it hits there it hits, if not then that's it". If you would have on the other hand hundreds of millions, then there is a completely different issue, and you will not play that game. You will start selling, if you have a little brain in smaller chunks, so you don't devalue too much your own coins, but with every sell you just add the new set of coins you want to sell, and so on.