Livepeer is a protocol based on the Ethereum network. However, this protocol allocates video transcoding work in its decentralized network. Also, the protocol is focused on providing cheap, safe, and reliable infrastructure that can take care of today’s high demand for video streaming for its coin holders and users.
Hence, this article takes a detailed look at Livepeer price prediction. It will also focus on Livepeer’s technical analysis in the crypto market. Without further ado, let’s jump right in.
A year ago, a spike coincided with Livepeer’s tweet of a new weekly record high in terms of the length of unique video transcoded — a real-world development that could convince investors that the asset had been undervalued. Several hours later, the price began climbing (first red box), eventually reaching $24 on May 26. Can we expect the same spike this year? Let’s find out more about the network’s applications, technical analysis, and Livepeer price predictions.
Today’s Livepeer price is $10.34 with a 24-hour trading volume of $7,848,037. Livepeer is up 5.09% in the last 24 hours. The current CoinMarketCap ranking is #121, with a live market cap of $253,577,008. It has a circulating supply of 24,533,716 LPT coins and the max. supply is not available.
Introduction to Livepeer Protocol
Livepeer is a scalable protocol suitable for startups and companies that want to include live or on-demand video in their services. This protocol can be referred to as Platform-as-a-service (PaaS). The Livepeer protocol specifically transcodes videos, which helps to reformat videos to suit different bandwidths and devices. Livepeer also offers a scalable infrastructure for developers looking to meet today’s video infrastructure and streaming.
Currently, video streaming is extremely expensive on the computing side, mainly because video producers must first transcode videos before being broadcast. However, the end costs have resulted in many video streaming companies selling users’ information and subjecting them to unwanted adverts to earn revenues. Nonetheless, this is what Livepeer aims to stop by having a decentralized protocol that is incentivized.
It is essential to know that the native Livepeer cryptocurrency is the Livepeer Token (LPT), popularly referred to as Livepeer LPT.
The Livepeer (LPT)
The Livepeer (LPT) is created to be an incentive mechanism. The Liverpeer protocol is cost-effective, reliable, and secure. LPT also acts as a mechanism that incentivizes orchestrators to work somewhat to ensure the protocol is secure.
Furthermore, new LPT tokens are minted in rounds and distributed to Orchestrators according to their stakes. It is essential to know that this allows those who participate in Livepeer to have more ownership and stake LPT tokens in the network. You also need to understand that the LPT inflation rate depends on the number of LPT coins staked out of the total supply in circulation. This keeps participants on the network at a desirable level.
Furthermore, Livepeer offers video broadcasters an opportunity to tap into its decentralized and cost-effective infrastructure that is reliable. Video broadcasters aren’t the only ones that can benefit from Livepeer. However, Video streaming platforms also stand the chance of helping without selling users’ data and serving adverts.
In addition, Livepeer offers an essential decentralized solution for anyone to embed videos into decentralized applications.
|Coin||Symbol||Price||Marketcap||Change||Last 24h||Supply||Volume (24h)|
|LPT||$ 9.05||$ 237.61 M||1.99%||26.22 M||$ 6.95 M|
The Founders of Livepeer
Livepeer is also an open-source platform that allows developers to contribute freely to its underlying code. Livepeer Inc is the legal company behind the Livepeer platform. However, Livepeer was founded by Doug Petkanics and Eric tang.
Doug Petkanics studied computer science and graduated from the University of Pennsylvania in 2006. After he graduated, he joined Accenture as an analyst, and in 2010 he co-founded Hyperpublic. In 2016, he also co-founded Livepeer.
On the other hand, Eric Tang graduated from Carnegie Mellon University with electrical and computer engineering degrees. He joined Next Jump, in 2010, as a software developer. In 2010, he collaborated with Petkanics and co-founded Hyperpublic. Since then, they have both worked together to create Livepeer.
How Livepeer works
In Livepeer, Broadcasters often referred to as nodes, send video streams to the network to transcode them. Then the streams are received by Orchestrators, who contribute their computer GPU, CPU, and bandwidth to the network in exchange for ETH fees.
In the Livepeer network, Orchestrators help to coordinate and ensure that videos are correctly transcoded. Also, the Orchestrators help send videos to the transcoder hardware that reformats videos known as GPU. In addition, tasks are distributed among Orchestrators according to the amount of LPT crypto they stake.
However, before we go into Livepeer price predictions and future Livepeer prices, let’s look at its current price in the crypto market.
How to Acquire LPT
- How to BUY LPT
- Sign up for a Kraken account. Enter an email address, username and a strong password to protect your account.
- Verify your account. …
- Add funds or a payment method to your account. …
- Purchase LPT!
2. How to Mine LPT
- Log in to Web 3 Wallet. You will need a Web3 wallet such as MetaMask with enough Ethereum to pay for the Gas cost of executing the smart contracts that generate LPT tokens.
- Set Mining Parameters. Select your gas price.
- Earn LPT tokens.
Livepeer Technical Analysis
Recent Livepeer price analysis indicates that LPT prices are currently in a descending trendline since the fourth week of August towards the $10.00 level. The LPT/USD pair has been following a descending channel since the all-time high of $100.0 on November 2021, and the price is currently testing the lower boundary of the channel. The price has been alternating between a high of $14.57 and a low of $9.42 in the last month.
Looking at the current price level, the nearest support levels are $10.0 and $9.42. The nearest resistance level is $14.57.The finnobacci retracement tool indicates that the 61.8% retracement level is at $12.30, which is also coinciding with the 100-day simple moving average (SMA).
The bears seem to be however exhausted, as indicated by the Relative Strength Index (RSI), which is currently at 37.80, which is well below the 50 levels, indicating that the prices may rebound soon.
The Bollinger bands are currently wide apart, indicating that the market is currently volatile. The price is just below the upper bands, indicating that the prices may rise in the near future.
MACD is also in the bearish zone and is losing momentum. The MACD is in a neutral position, slightly below the red signal line. We can expect the prices to rebound from the current levels, with the nearest target being $12.30, and further upside targets being $14.57 and $16.0 in the short term.
The 200-day SMA is at $15.40, which is well above the current price level, indicating that the path of least resistance is to the downside. The EMA ribbon is also placed below the current price level, indicating that the prices may continue to move lower in the short term.
Overall, the technical indicators are sending mixed signals, with the RSI and MACD showing signs of bearish exhaustion, while the 200-day SMA suggests that the prices may continue to move lower in the short term.
Livepeer Price Prediction by Authority Sites
At Wallet Investor, they term Livepeer as a bad long-term investment. Their one-year price forecast for 2022 is $0.892 which represents a decline of 91.0629%. The site believes by 2027 the coin will have devalued and may not recover again.
DigitalCoinPrice uses data from different exchanges to come up with an average price prediction. Their LPT price forecast for the year 2022 is LPT to reach a maximum price of $14.07 and an average of $13.34. The site is giving a quite conservative approach to the price of Livepeer. The site believes by 2027 the digital currency will be trading at an average price of 22.35 and by 2031 LPT could potentially attain an average price value of $46.57.
Technewleader is another website that has a bullish Livepeer price forecast. The site believes that LPT could potentially reach an average price of $29.49 by the end of 2022. Their predictions are based on market trends and deep technical analysis. The site is giving a quite optimistic approach to the price of LPT as they have predicted by 2017 LPT could be trading at $89.58.In the long term, the site believes that LPT could potentially attain an average price of $511.28 by 2030.
Livepeer Price Prediction 2022
According to the current market trend, LPT is trading sideways and we expect it to remain in the same range for some time. However, According to our LPT forecast, Livepeer is projected to attain a maximum price value of $12.96 and an average price of $12.18.The least price forecast for the year 2022 is $11.76.
Livepeer Price Prediction 2023
In 2023, LPT is predicted to attain a maximum trading price of $23.53 and an average price of $20.16.Moreover, the minimum price forecast is $19.46.
Livepeer Price Prediction 2024
According to our LPT future predictions, the digital currency is expected to gain substantial traction and attain a maximum price of $34.10 and an average price of $28.18 in 2024. The minimum price value for 2024 could be $27.37.
Livepeer Price Prediction 2025
Livepeer price forecast for the year 2025 suggests that the digital asset might potentially reach an average price value of $40.94.The maximum price forecast is $47.40 while the minimum price is projected to be $39.53.
Livepeer Price Prediction 2026
As per the LPT price forecast, by 2026 the digital currency might reach higher levels and the maximum trading value might be $70.08 while the average price level could be $60.65.The minimum price value is anticipated to be $58.60.
Livepeer Price Prediction 2027
In 2027, LPT is anticipated to attain a maximum price level of $101.77 and an average price of $88.12.The minimum forecast value is $85.70.
Livepeer Price Prediction 2028
For the year 2028, the LPT future price prediction suggests that the digital currency might attain a maximum trading value of $146.70 and an average value of $125.57.The minimum price forecast is $122.05.
Livepeer Price Prediction 2029
In 2029, Livepeer is projected to attain a maximum trading price of $212.83 and an average price of $186.02.The minimum price predicted for the year is $179.74.
Livepeer Price Prediction 2030
As per the LPT price prediction for 2030, the digital currency might reach a maximum value of $311.61 and an average trading value of $259.97.The digital asset is expected to fall to a minimum value of $252.53.
Livepeer Price Prediction 2031
By 2031, crypto adoptions will have taken over and LPT might potentially reach an all-time high price of $438.54.The average price is predicted to be $381.58 while the minimum forecast value is $370.98.
Livepeer Price Prediction by Market Experts
Livepeer has been fairing well since its launch despite the recent market turmoil. Popular market analysts have made predictions on LPT’s future price and most of them are bullish on the digital currency.
For instance, “Cilinix Crypto” a Youtuber with over 11.1k subscribers stated in one of his videos that LPT could potentially enter a bullish rally by the end of 2022 and the digital could attain a maximum price of $15 level which is the current major resistance level.
Cilinix Crypto goes through the basics of Livepeer and gives its price prediction. He argues the project is undervalued and could offer good returns to its users this year.
Crypto with Wolf goes through LPT on his Youtube channel. He comments that the cryptocurrency is in a bear market and is an excellent time to buy. He adds that LPT could go lower short term.
Crypto Reveals goes through the basics of Livepeer and gives its price prediction. He argues the project is undervalued and could offer good returns to its users this year.
Livepeer streaming service is rewriting the way streaming services are done. It rewrites the whole economics of streaming. Users are incentivized to access content, while the community plays the role of maintaining the network.
Livepeer has been on a bear trend since January 2022. From 2023, LPT will be on an upward trend. Any negative news could derail LPT. Otherwise, LPT is a profitable investment.
The coin may have done well over the past year and seems to have actual utility, both of which might contribute to its popular acceptance. However, it is always important to remember that the cryptocurrency market is quite volatile and that the value of all tokens and coins can fluctuate up and down. Investing is a very private matter. Do your own research and try to stay informed of any developments that could improve Livepeer’s chances.
Based on the current market trend and our LPT price analysis, we believe that Livepeer has a lot of potential and could potentially attain new all-time highs in the future. The digital currency is expected to gain mainstream adoption in the coming years which could lead to an increase in its price.
The project’s web page claims that “crypto-economic incentives for bootstrapping and participation” can produce a better system than the one currently in place. The company’s mission, as stated on its website is to ” liberate communications, economic opportunity and entertainment for society”.
However, it is important to note that cryptocurrency prices are highly volatile and completely dependent on market conditions. Thus, it is always advisable to do your own research before investing in any digital asset as the predictions are not investment advice despite the fact that the coin may have done well over the past year and seems to have actual utility, both of which might contribute to its popular acceptance.
The coin has done exceptionally well in the last year, and it appears to be useful, which could assist in making it more mainstream.
You should never invest more money than you can afford to lose since investing can be dangerous.