Each beef market has a specific direction that stimulates and supports the increase in asset prices. At the end of 2020, Ether (ETH) was at the forefront when the Ethereum network experienced an increase in activity due to the growing popularity of the decentralized financial sector (DeFi) and the expectations that altcoins would merge with the launch of Ethereum 2.0.
As evidence grows that institutional money is flowing into the cryptocurrency sector, the gray rally is the latest trend to boost listed assets to add to Grayscale’s product portfolio. This happened exactly with Livepeer (LPT), a decentralized video streaming and related token network built on Ethereum that was recently incorporated into the new Grayscale Box.
Data from Cointelegraph Markets and TradingView shows that the Livepeer price has jumped more than 1000% since it was first introduced as an important symbol for grayscale investments, and the price has risen from $ 1.77 on January 21 to a new full time. … $ 34 March 20th.
Gray shades constitute confidence in LPT
The LPT price hike began on January 21 when it was revealed that Livepeer was one of the projects Grayscale set up to build trust while the company investigated potential product offerings.
On March 17, Michael Sonnenshin, CEO of Grayscale Investments, helped launch a new LPT rally following the release of the following tweet announcing the official launch of new product offerings, including the Grayscale Livepeer Trust:
The announcement triggered a new 500% jump in the LPT price over the next four days, helping to lift the token to a new all-time high.
Network activity shows signs of acceptance
While the announcement of Grayscale may have started LPT growth, data from Livepeer explorer shows that online activity has grown significantly since August 2020, which is a testament to the platform’s estimated use and fees.
The LPT token offers many features beyond being used to transfer value, including the ability to participate to generate passive income or vote on governance to control the future of the ecosystem.
Community members also have the ability to run a Livepeer node and convert video for the web using their GPUs in exchange for paid rewards in the form of ETH and LPT.
As global internet connection continues to grow and telework becomes the new standard, video streaming is becoming a focal point in both professional and leisure activities. Livepeer can offer a convenient decentralized video streaming and viewing solution that can increase LPT prices.