At the time of writing, Livepeer (LPT) Price was up 70% within the final 24 hours to commerce at $63.22 after hitting a new all-time excessive of $64.85 earlier at present.
Livepeer unleashed a monster bull run on sixth this month, which it has maintained for 3 days to date.
What is Livepeer?
Livepeer is a decentralized stay streaming community that permits customers to transcode video utilizing their GPUs in trade for ETH and LPT rewards.
Livepeer community was launched in 2017 with proof- of -StakeERC20 token governing this community.
According to Livepeer whitepaper:
“Users who would love to transcode video can submit a job to the community at a worth they decide to be acceptable, be assigned a transcoder, have the video transcoding carried out with economically secured ensures of accuracy.”
There have been 12M LPT tokens staked with over $233K in charges paid out on the time of writing. Moreover, one also can stake LTP tokens to obtain rewards with GPU mining.
Livepeer streaming platform is the perfect since anybody can begin stay streaming in minutes through streamlabs OBS with no points.
When you go stay , there isn’t any listing or chat like in YouTube and Twitch, nonetheless, the streaming choices are extra helpful to broadcasters involved about the price of transcoding their video.
Livepeer via blockchain expertise is ready lower down the associated fee for transcoding stay streams which is a enormous saving to broadcasters.
Why is Livepeer (LPT) on the rise?
Last month, Livepeer made MistServer their first firm acquisition.
MistServer is a full-featured and the next-generation streaming media bundle for web streaming.
The acquisition permits MistServer customers to reap the benefits of Livepeer’s platform for video transcoding. It can also be a clear indication that Livepeer’s product and ecosystem is maturing.
LPT’s earlier bearish market started reversing a few days after the announcement, and the bullish momentum is now gaining momentum by the day.
Livepeer introduced on twitter earlier at present that they are going to be attending ETHGlobal’s Web3 Jam this Friday.
Join us for the Web3 Jam! Starting this Friday. https://t.co/YMABR9t65j
— Livepeer (@LivepeerOrg) November 8, 2021
In the previous, a number of cryptocurrencies have proven appreciable worth positive aspects due to related bulletins of attending upcoming occasions and LPT can also be anticipated to additionally rise.
Chia Networking gained over 35% and Rarible’s worth elevated 18% when their groups introduced their Financial Innovation summit attendance and NFT.LDN respectively.
Investors’ confidence ranges rise considerably as they’re ready to see and work together with the mission’s crew in individual even when there isn’t any similarity between the convention attendance and worth fluctuations.
It’s clear that Livepeer’s tech goal is to hamper Web 2.0 stay streaming economies and reinstate them with extra clear, censorship-resistant and most significantly consumer owned platforms with out direct point out of LPT.