Inaugurated in 2017, Livepeer stands out as the pioneering decentralized live video streaming network protocol, offering a blockchain-based and economically efficient alternative to centralized broadcasting solutions for both new and existing broadcaster companies.
The transformative impact of Artificial Intelligence (AI) in the past decade cannot be overstated. Particularly in the realm of video, AI significantly lowers barriers to content creation, fostering a more level playing field for individuals compared to high-end production houses.
In a recent update during its Ecosystem Call, Livepeer unveiled plans to integrate AI-based video computing onto its GPU-rich network within the next four months. This forward-looking initiative aims to enhance the platform’s capabilities and further democratize the video content creation landscape.
On today's @Livepeer Ecosystem Call we talked about the path to bring AI based video compute onto the GPU-rich network in the next 4 months. As is consistent with Livepeer's journey over the last 7 years, we'll work to show real, usable, functional, open source software and…
— Doug Petkanics (@petkanics) December 19, 2023
Notably, following the announcement of this future integration, there has been a discernible accumulation of Livepeer’s native token, $LPT, by savvy investors. Lookonchain reports that a significant smart money move involved the accumulation of 166,789 $LPT, amounting to $1.69 million, indicating strategic positioning ahead of anticipated developments.
The price of $LPT increased by 44% today.
A smart money accumulated 166,789 $LPT($1.69M) before rising.
The smart money traded a total of 4 tokens, each of which was profitable, with a total profit of ~$1.39M. pic.twitter.com/PMDrh0l5He
— Lookonchain (@lookonchain) December 20, 2023
The impact of this strategic move is reflected in $LPT’s impressive performance today, witnessing a remarkable 40% surge in both price and market cap. Currently valued at $10.23 with a market cap of $306.37 million, Livepeer’s native token is making waves in the crypto market.
The surge in interest and strategic positioning is further evident in the 293% increase in 24-hour trading volume, showcasing heightened activity and enthusiasm surrounding Livepeer’s recent developments.
As Livepeer’s $LPT continues its upward trajectory, the integration of AI-based video computing adds a layer of excitement to the platform’s future, solidifying its position as a dynamic player in the decentralized video streaming space.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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