{"id":1582,"date":"2021-10-19T09:46:08","date_gmt":"2021-10-19T08:46:08","guid":{"rendered":"https:\/\/tradersofcrypto.com\/news\/?p=1582"},"modified":"2021-10-19T09:46:09","modified_gmt":"2021-10-19T08:46:09","slug":"livepeer-lpt-trying-for-a-comeback-above-30","status":"publish","type":"post","link":"https:\/\/tradersofcrypto.com\/news\/livepeer-lpt-trying-for-a-comeback-above-30\/","title":{"rendered":"Livepeer (LPT) Trying for a Comeback Above $30"},"content":{"rendered":"\n<p>Livepeer (LPT), an asset that made its price moves in relative obscurity, is making a comeback with another rapid price rally. LPT ranked in the top 100 of crypto coins and tokens after its most recent rally.&nbsp;<\/p>\n\n\n\n<p>LPT gained more than 44% overnight in dollar terms, reaching $29.64, on record trading volumes. LPT is up 45% against <a href=\"https:\/\/tradersofcrypto.com\/news\/ethereum-picks-pace-along-with-bitcoin-approaches-4000\/\">ETH prices<\/a>, and 44% up against BTC, marking another round of organic performance. Later in the day, LPT continued its trek to $30.33, with a slight discount on the Bithumb exchange.\u00a0<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"500\" height=\"500\" src=\"https:\/\/tradersofcrypto.com\/news\/wp-content\/uploads\/2021\/10\/LPTchart-500x500.png\" alt=\"\" class=\"wp-image-1583\" srcset=\"https:\/\/tradersofcrypto.com\/news\/wp-content\/uploads\/2021\/10\/LPTchart-500x500.png 500w, https:\/\/tradersofcrypto.com\/news\/wp-content\/uploads\/2021\/10\/LPTchart-200x200.png 200w, https:\/\/tradersofcrypto.com\/news\/wp-content\/uploads\/2021\/10\/LPTchart-768x768.png 768w, https:\/\/tradersofcrypto.com\/news\/wp-content\/uploads\/2021\/10\/LPTchart.png 1200w\" sizes=\"auto, (max-width: 500px) 100vw, 500px\" \/><\/figure>\n\n\n\n<p>Trading volumes were above $360M in the past 24 hours, with LPT still one of the low-activity assets yet to return to prominence. LPT is still far from its all-time high above $43 reached during the latest peak in the second quarter of 2021.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Why Livepeer is Back in the Spotlight<\/strong><\/h3>\n\n\n\n<p>Livepeer intended to build a live streaming video network on the Ethereum blockchain. LPT appeared first as an ICO token in 2018, with a sell price of $2.25. Since then, LPT has hovered below $5 until March 2021, which brought a series of rallies.&nbsp;<\/p>\n\n\n\n<p>Livepeer attempted to become a content platform with the added value of blockchain-based voting mechanisms. Additionally, Livepeer added \u201cvideo mining\u201d, a form of shared computing where users connect and lend their GPU resources for video encoding purposes.&nbsp;<\/p>\n\n\n\n<p>Livepeer plans to continue building its video network, while adding AI functionalities and content moderation.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Is LPT Accessible<\/strong><\/h3>\n\n\n\n<p>LPT has stayed out of the spotlight, but not for lack of access. The token is available to both international and US-based traders, through Binance.com as well as through Coinbase.&nbsp;<\/p>\n\n\n\n<p>Based on Etherscan data, Livepeer has more than 2.5M token owners, as the project\u2019s goal is maximum decentralization. More than 52% of all LPT is locked within a single address. LPT has a relatively limited supply of 22M tokens, copying the <a href=\"https:\/\/tradersofcrypto.com\/news\/bitcoin-technical-analysis-the-calm-before-the-storm\/\">Bitcoin (BTC) supply<\/a> decision. As of October 2021, around 21M tokens are in circulation.\u00a0<\/p>\n\n\n\n<p>LPT exists as an Ethereum-based token and is available for multiple Ethereum-compatible wallets. For price discovery, LPT depends on its highly active <a href=\"https:\/\/tradersofcrypto.com\/exchanges\/binance\/\">Binance trading pairs<\/a>, with more than 32% of all activity concentrated in the LPT\/USDT trading pair.\u00a0<\/p>\n\n\n\n<p>Because of its relatively early launch in 2018, Livepeer managed to get listed to some of the key centralized exchanges. LPT is trading for EU-based buyers through <a href=\"https:\/\/tradersofcrypto.com\/exchanges\/kraken\/\">fiat and crypto pairs on the Kraken exchange<\/a>. The US-based Gemini exchange also supports the asset.\u00a0<\/p>\n\n\n\n<p>LPT is also one of the rare Ethereum-based assets that has stuck to its original idea of a video ecosystem. For that reason, LPT is not available through DeFi projects and decentralized exchanges such as Uniswap. LPT is available in an almost inactive pair on the 0x protocol, where price discovery set prices around $27.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Livepeer Expands NFT Opportunities<\/strong><\/h3>\n\n\n\n<p>Livepeer has integrated non-fungible tokens into its video creation process for a few months already. Video creators now have the chance to restrict videos and allow viewing only after NFT ownership.&nbsp;<\/p>\n\n\n\n<p>Recently, the Livepeer project opened a grant to boost NFT creation and adoption on the network.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Calling video nft artists! Livepeer Grants is offering 50 LPT to design our <a href=\"https:\/\/t.co\/eR0jINCVfU\">https:\/\/t.co\/eR0jINCVfU<\/a> NFT <a href=\"https:\/\/t.co\/BCyAn7UEe5\">https:\/\/t.co\/BCyAn7UEe5<\/a><\/p>&mdash; Livepeer (@LivepeerOrg) <a href=\"https:\/\/twitter.com\/LivepeerOrg\/status\/1448309420258115584?ref_src=twsrc%5Etfw\">October 13, 2021<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>Livepeer also boosts the NFT industry by allowing video streaming for minting events and new collection launches. So far, there is little reliable information on actual NFTs built through the Livepeer protocol.&nbsp;<\/p>\n\n\n\n<p>The Livepeer network remains highly dependent on Ethereum, and is still building solutions and updates to avoid high gas fees for transfers and participation.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>How High Can LPT Go<\/strong><\/h3>\n\n\n\n<p>LPT has shown significant volatility in its price moves, a result of the relative centralization of its trading pairs. A total of 73% of all LPT activity is spread through multiple Binance trading pairs.&nbsp;<\/p>\n\n\n\n<p>LPT is viewed as ready for a larger breakout after reaching the $30 tier. LPT attracted attention by becoming one of the biggest daily gainers, following a period of relative stagnation for altcoins. LPT is one of the rare assets not immediately affiliated to DeFi or the NFT space to go through a price pump and re-establish its presence as a promising growth token.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Top 5 Biggest Gain in Value in the last 24 hours<a href=\"https:\/\/twitter.com\/search?q=%24MONSTA&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$MONSTA<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24BYTZ&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BYTZ<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24ARPA&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ARPA<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24LPT&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$LPT<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24ELON&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ELON<\/a> <a href=\"https:\/\/t.co\/aB8F4gpm6i\">pic.twitter.com\/aB8F4gpm6i<\/a><\/p>&mdash; CoinTrendz.com (@CoinTrendz) <a href=\"https:\/\/twitter.com\/CoinTrendz\/status\/1450356048741683201?ref_src=twsrc%5Etfw\">October 19, 2021<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>Bullish short-term predictions see LPT at $50 in another parabolic rise. In the past, LPT has also shown it can be volatile on the downside as well, dipping to a mid-year low under $12 just weeks after an all-time high.&nbsp;<\/p>\n\n\n\n<p>LPT also receives a boost from exposure to Grayscale Capital. LPT is one of the early tokens to be added to the collection of Grayscale trusts.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24LPT&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$LPT<\/a> crypto &#8211; more bullishness: Greyscale owns $5.7M in LPT as of Sept. A plan for an exchange traded note is reportedly in the works.<\/p>&mdash; Socrates the Trader (@SocratesTrader) <a href=\"https:\/\/twitter.com\/SocratesTrader\/status\/1450221952736522242?ref_src=twsrc%5Etfw\">October 18, 2021<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>Grayscale holds about $12.6M in its Livepeer fund, a relatively small share compared to other digital assets. Based on Grayscale\u2019s OTC share price, LPT trades at a discount, at a price equivalent of $20.62.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Livepeer (LPT) re-entered the top 100 of coins after a rapid daily appreciation. LPT regained attention as a potentially growing token to revisit its all-time high.<\/p>\n","protected":false},"author":3,"featured_media":1584,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[51,407,408,20],"class_list":["post-1582","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorised","tag-kraken","tag-livepeer","tag-lpt","tag-nft","entry"],"_links":{"self":[{"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/posts\/1582","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/comments?post=1582"}],"version-history":[{"count":0,"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/posts\/1582\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/media\/1584"}],"wp:attachment":[{"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/media?parent=1582"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/categories?post=1582"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradersofcrypto.com\/news\/wp-json\/wp\/v2\/tags?post=1582"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}