😯🔥Livepeer (LPT) Rises 57% and Enters Investors' Radar: What's Next for the Altcoin?
#Livepeer (#LPT ) has shown a marked rise as a player playing an important role in the field of decentralized video streaming. The altcoin has reached $ 15 with an impressive increase of 57% in the last 24 hours. This increase is due to Livepeer's collaboration with OpenAI on the Sora generative video artificial intelligence model and showcases the improvements in the Livepeer network.
The community is actively working as part of Livepeer's broader initiative in the field of artificial intelligence video to create accessible entry points in the field of productive video for developers, creators and users.
Livepeer has achieved significant success in the past. in 2023, by partnering with Filecoin, it managed to turn miners into video nodes and collaborate with The Graph to become one of the top 10 main network migration partners using the indexing protocol.
Why Is the LPT Price Rising?
In a recent tweet, Crypto Panda expressed bullish sentiments about LPT over meme coins and other speculative altcoins.
Livepeer's optimism stems from the fact that it is recognized for its groundbreaking “Depin” edge computing solution in Messari research and positions the project as one experiencing increased developer activity around AI/OpenAI video models.
In addition, Crypto Panda points out the support of Grayscale's 5% stake, which could provide potential support. However, he also emphasizes that despite a modest market capitalization of $ 316 million, there has been significant funding of more than $ 50 million from the best vcs.
Crypto Panda also suggested that investors should continue to observe the LPT as the crypto market resets for the upcoming bull cycle.
LPT Price Analysis
Crypto analyst Team LAMBO Charts highlights a breakthrough with the altcoin breaking a key trend line that has been in place since September 2022. This move triggered a remarkable rise of 57% in the last 24 hours.
