Here Is Why the LPT Price Is Surging Today, & Skyrocket By 57%

The post Here Is Why the LPT Price Is Surging Today, & Skyrocket By 57% appeared first on Coinpedia Fintech News

Livepeer (LPT), a major player in decentralized video streaming, has surged by an impressive 57% in the last 24 hours, hitting $15. This surge is fueled by Livepeer’s groundbreaking collaboration with OpenAI on the Sora generative video AI model, aiming to showcase advancements on the Livepeer network.

As part of Livepeer’s broader initiative in AI video, the community actively works to create accessible entry points for developers, creators, and users in the generative video space. 

In 2023, Livepeer achieved notable milestones by partnering with Filecoin to transform miners into video nodes and collaborating with The Graph as one of the first 10 mainnet migration partners, utilizing their indexing protocol.

Why LPT Price Is Surging 

In a recent tweet, Crypto Panda expressed bullish sentiments about LPT over meme coins and other speculative altcoins. 

The #OpenAI buzz with AI video models #SORA is heating up, spotlighting $LPT!#Livepeer, the decentralized video powerhouse on Ethereum, is revolutionizing streaming for devs with its live and on-demand solutions.

Here's why I'm bullish on #LPT:

1. Highlighted in #Messari's… pic.twitter.com/bh4xX7vrvp

— Crypto Panda (@cryptopanda68) February 16, 2024

Their optimism stems from Livepeer’s recognition in Messari research for its groundbreaking “Depin” edge computing solution, positioning the project as a beneficiary of the buzz around AI/OpenAI video models and experiencing increased developer activity.

Additionally, Crypto Panda pointed out the backing from Grayscale’s 5% stake, which could provide potential support. He also highlights the substantial funding of over $50 million from top VCs against a modest $316 million market cap.

Meanwhile, Crypto Panda agrees, suggesting investors keep an eye on LPT as the crypto market resets for the upcoming bull cycle.

LPT Price Analysis 

The crypto analyst Team LAMBO Charts highlights a breakthrough as LPT breaks a significant trendline in place since September 2022. This move triggers a notable 57% surge in the last 24 hours.

$LPT Major breakout is done off the trendline and downtrend is over!

The profit potential is upto 100$ here. Smaller targets are 20$ and 50$ for short and mid term!#LPT #LPTUSDT #Crypto #Altseason pic.twitter.com/r2ohQ7amVr

— Team LAMBO Charts (@TehLamboXcharts) February 16, 2024

Setting ambitious targets, Team LAMBO Charts forecast a long-term goal of $100, indicating a potential 700% increase. Additionally, achievable shorter-term objectives of $20 and $50 are well within reach.

What’s Next for LPT?

With all this excitement, the future for Livepeer looks pretty good. More people are interested, and the price keeps going up. Livepeer is becoming more important in the world of videos on the internet.