- Livepeer is all about decentralized live streaming of videos by harnessing blockchain powers
- LPT is the native token, which can be staked to earn rewards in Ether and new LPT coins
- Year-to-date (YTD) return of LPT coin is better than Bitcoin for the year 2021
The cryptocurrency investment space differs from the traditional stock market. In stocks, it is usually the high market cap, blue-chip stocks that are closely tracked, but in cryptos, a low market cap asset is closely watched by investors as it can return more than top cryptos like Bitcoin or Ether.
Shiba Inu (SHIB) was among the most popular cryptos of 2021, and this reflects the mood of investors that want to bet on altcoins. Having joined the list lately is Livepeer crypto or LPT coin, which as of now is not in the billion-dollar market cap crypto club.
What is Livepeer blockchain network?
Livepeer, just like any other blockchain project, is a decentralization initiative for a particular sector. In Livepeer, it is the video streaming services, which the project wants to move to blockchain and its peer-to-peer architecture.
The project claims to have something for everyone. To developers, Livepeer provides API access for building new streaming platforms, besides scaling the existing ones. For users, it claims to be a place where the native token can be staked, and rewards be earned.
What is LPT token?
LPT crypto is the native cryptocurrency of Livepeer’s decentralized ecosystem.
The token holders can participate in the staking process of the network. As a reward for this, users can earn new LPT cryptos as well as the Ether cryptocurrency. LPT’s video streaming platform is based on Ethereum, and this makes Ether a close watch in 2022 for its ever-increasing utility.
LPT crypto price
LPT is trading at nearly US$40 as of now, and its market cap is US$890 million.
Data provided by CoinMarketCap.com
LPT crypto price prediction
LPT began 2021 with a price tag of US$1.5. The price crossed US$40 by early April, but it lost almost half its value by mid-May. The price crossed US$80 in early November before dropping sharply to as low as US$33.
Also read: Top cryptos by market cap that ruled in 2021
Data suggests LPT crypto is extremely volatile. In the near-term, the price can breach US$50, but only if the project can find backers for its decentralized live video streaming services.
Is LPT crypto a good investment?
It is important to note that outside of the Livepeer project, there is little use of LPT coin.
In the medium and long term, the project’s adoptability by developers to build new decentralized apps and by video viewers, to whom Livepeer promises rewards for watching videos, will be the key drivers of LPT price. One exciting feature of the project is what it has termed ‘uncensorable live journalism’, but only time will tell its feasibility in the real world.
What is Livepeer crypto? Is it a good investment?
Altcoins like DOGE and SHIB, and then gaming cryptos like AXS and MANA provided better returns in 2021 as compared with Bitcoin. Here, it is important to note that timing of investment and withdrawal matters a lot in cryptos. Livepeer’s decentralized video streaming makes LPT coin an interesting watch.