Livepeer Token (LPT) experienced a sharp decline of 8.69% in the past 24 hours, reaching a current price of $5.85**. The total trading volume surged to **$16 million, while its market capitalization stands at $239 million, ranking it 81st among cryptocurrencies.
Key Metrics
- 24-Hour High/Low: $6.60 / $5.75
- Circulating Supply: 40,868,494 LPT
- All-Time Supply Cap: 23,682,198 LPT
About Livepeer Token (LPT)
LPT powers the Livepeer network, an Ethereum-based decentralized video streaming platform. Token holders can stake LPT to earn rewards by supporting video transcoding operations. Launched in December 2018 at $8.84, LPT enables decentralized content delivery and creator monetization.
Historical Performance
- 1 Week: +5.68%
- 1 Month: +7.62%
- 3 Months: +17.21%
- 6 Months: -63.71%
- YTD: -61.47%
Market Context
The drop aligns with broader crypto market trends, where altcoins often face heightened volatility. LPT’s utility in decentralized media infrastructure positions it as a long-term player despite short-term fluctuations.
👉 Explore real-time crypto trading strategies to navigate volatile markets.
FAQs
1. What caused LPT’s price drop?
The decline likely reflects profit-taking after recent gains or broader market sentiment shifts.
2. How does staking LPT work?
Users delegate LPT to network transcoders, earning inflation rewards and fees proportional to their stake.
3. Is Livepeer competing with centralized video platforms?
Yes, Livepeer aims to disrupt traditional streaming services by offering cost-efficient, censorship-resistant alternatives.
👉 Discover how to stake LPT for passive income with step-by-step guides.
Key Takeaways
- LPT’s 8.69% drop highlights crypto market volatility.
- The token’s utility in decentralized video remains its core value proposition.
- Staking offers a way to earn rewards during price dips.
Data sourced from live market feeds. Always conduct independent research before investing.
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