AUS
NZ
UK
CA
USA
IND
.png)
Highlights
- Livepeer offers a decentralized infrastructure (DeFi) for video streaming, and it aims to become a viable option for users.
- LPT crypto is soaring to new highs and is gaining massive momentum due to the increased numbers of crypto enthusiasts exploring the cryptocurrency.
- The LPT crypto is the native token of Livepeer protocol, and it keeps the network cost-effective through coordination and incentive mechanisms.
Ethereum-based live streaming protocol Livepeer (LPT) has witnessed many firsts in the recent past and on Tuesday, November 9, the LPT crypto soared to new highs and achieve an all-time high of US$ 62.9 per token.
LPT crypto set to explode in 2021? Know Livepeer's price prediction
According to CoinMarketCap data, LPT crypto's price was up by 64 per cent in the last 24 hours and it was trading at US$ 62.12 apiece at 3 AM EST. In addition, the one-day volume skyrocketed by 600 per cent to $531.6 million.
Also Read: EverGrow crypto set to explode in 2022? Know price prediction
As the cryptocurrency is gaining momentum, let's take a closer look to find more about the Livepeer protocol and why it is attracting investors' attention:
What is Livepeer (LPT)?
The Ethereum-based protocol offers a decentralized infrastructure (DeFi) for video streaming. It aims to become a viable option for users looking for an economically efficient alternative to centralized broadcasters.
Livepeer is designed to make streaming cost-efficient and reliable. As it is an open-source platform, Livepeer allows users and developers to freely engage and participate in the improvement of the platform.
© 2021 Kalkine Media Inc.
The protocol aims to provide video developers free media software and pay lesser fees to decentralized networks to scale their applications, instead of paying heavy fees for cloud infrastructure and software licenses.
Established in February 2017, Livepeer has grown rapidly, and it has more than 70,000 GPUs accessible to the network. In addition, 12 million LPT tokens have been staked.
The LPT crypto is the native token of Livepeer protocol, and it keeps the network cost-effective through coordination and incentive mechanisms. LPT tokens incentivize Orchestrators to act honestly and secure the network.
Bottom line
The LPT crypto is gaining investors’ attention as it is progressing rapidly. Last month, Livepeer acquired MistServer, a media streaming toolkit and used US$ 20 million raised in a Series B funding round in July 2021.
The protocol believes that the future of video is Web 3.0, and this acquisition will give momentum to the platform's open video infrastructure.
Also Read: SLP crypto makes massive gains. What is its price prediction?
The platform also commissioned its first-ever non-fungible token (NFT) in October 2021. According to CoinGecko, the LPT crypto catapulted by 3598 per cent in the last 12 months and as the cryptocurrency is in a bullish zone, it will likely set a new all-time high in near future.
