Livepeer (LPT) has made a significant rise as a major player in the decentralized video streaming space. altcoin It reached $15, an impressive 57% increase in the last 24 hours. This increase stems from Livepeer’s collaboration with OpenAI on the Sora generative video AI model and showcases advances in the Livepeer network.
The community is actively working as part of Livepeer’s broader initiative in AI video to create accessible entry points into generative video for developers, creators, and users.
Koinfinans.com As we have reported, Livepeer has achieved significant success in the past. In 2023, it managed to turn miners into video nodes by partnering with Filecoin and became one of the top 10 mainnet migration partners using its indexing protocol by collaborating with The Graph.
Why Is LPT Price Rising?
Crypto Panda expressed bullish sentiments on LPT over meme coins and other speculative altcoins in a recent tweet. brought.
the #OpenAI buzz with AI video models #SORA is heating up, spotlighting $LPT!#livepeerthe 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:
NEWS CONTINUES BELOW1. Highlighted in #Messari‘s… pic.twitter.com/bh4xX7vrvp
— Crypto Panda 🚀🚀🚀 (@cryptopanda68) February 16, 2024
livepeer‘s optimism stems from its recognition in Messari research for its groundbreaking “Depin” edge computing solution, positioning the project as one experiencing increased developer activity around AI/OpenAI video models.
Additionally, Crypto Panda points to support from Grayscale’s 5% stake, which could provide potential support. However, it also highlights significant funding of over $50 million from top VCs, despite a modest market cap of $316 million.
Crypto Panda also, crypto- He suggested that investors continue to monitor LPT as the market resets for the upcoming bull cycle.
LPT Price Analysis
Crypto analyst Team LAMBO Charts is highlighting a breakthrough as the altcoin broke a key trend line that has been in place since September 2022. This move triggered a significant rise of 57% in the last 24 hours.
$LPT Major breakout is done off the trendline and downtrend is over!🚀
The profit potential is up to $100 here. Smaller targets are 20$ and 50$ for short and mid term!📈#LPT #LPTUSDT #Crypto #altseason pic.twitter.com/r2ohQ7amVr
— Team LAMBO Charts (@TehLamboXcharts) February 16, 2024
Setting ambitious goals, Team LAMBO Charts projects a long-term target of $100, indicating a potential upside of 700%. Additionally, achievable short-term goals of $20 and $50 are also achievable.
