Some altcoins have returned to posting double-digit gains as the cryptocurrency markets begin to recover. One of the best performing altcoin projects today has been Livepeer (LPT). LPT rose from $ 36.19 to $ 49.04 during the day.
Altcoin price rose as a result of partnership news from Livepeer
Launched in 2017, Livepeer is a Blockchain-based live streaming service that provides competitive rates for video encoding. It allows users to convert video using their GPU in exchange for ETH and LPT rewards. You can also stake LPT tokens to receive a reward. At the time of writing, there are 11.5 million LPTs connected to over 70,000 GPUs. LPT is the Proof-of-Stake ERC20 token that manages the Livepeer network.
cryptocoin.com As we reported, on December 2, Media Foundation, a peer-to-peer content distribution network, announced its integration with Livepeer. Their official announcement included the following statements:
Combining both protocols means that the video will be first converted by the Livepeer network and then served to users on demand via Media’s dCDN. Media-Edge nodes distributed worldwide cache content and ensure that the publisher node is not hit while serving users with video segments from a close location.
Media Network solves Livepeer’s content delivery problem with distributed Media Edge networks, which is useful for DAOs or DeFi teams looking to build Web3 applications. This partnership announcement could be the reason behind LPT’s recent price action. LPT is changing hands at $44.92, up 15 percent at the time of writing. Still, it is trading well below its record high of around $100.
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