LPT: Is it a wise investment?

LPT coin

The video streaming market is projected to reach USD 972.31 billion by 2030. Many crypto investors – institutional and individuals – are bullish about the future of the decentralized live streaming network. That said, investors must keep the following factors in mind before investing in LPT:

Where to Buy Livepeer Coin 

The Livepeer (LPT) governance token powers the Livepeer Protocol, a decentralised video streaming network on the Ethereum blockchain that aims to power video streaming applications using the computational power and bandwidth of its connected nodes. The LPT price increased by 1000% between March and October 2021 thanks to its distinctive use case, which may cut video streaming expenses by 50%.

LPT saw a correction in 2022, like the majority of alternative coins. This article discusses the Livepeer project’s history, where to purchase Livepeer coin at the present low LPT price, and if it’s a wise investment.

How to buy Livepeer Coin (LPT) – Quick Guide

A brief guide to investing in Livepeer through a well-known FCA-regulated exchange is provided below:

Open an eToro account as the first step. Create a free account at eToro.com. Type in your name, email address, and any details. You’ll receive a prompt from eToro to upload your KYC documentation (forms of identification).

💳 Step 2: Deposit: After uploading your ID, deposit the amount you intend to use to purchase Livepeer coins. The bare minimum deposit for users in the US or the UK is merely $10.

Third Step: Look for Livepeer: In the search box, enter “Livepeer” or “LPT,” and then click the “Trade” button next to the first result that appears.

Step 4: Purchase Livepeer It will take you to the LPT order page. Put in the quantity of LPT you

Where to buy Livepeer (LPT)

Live streaming is a growing sector, but it may be expensive for new businesses. Due to the Livepeer protocol’s ability to reduce this cost, numerous cryptocurrency exchanges now offer LPT for purchase and trade

What is Livepeer?

Livepeer is a decentralised video streaming network that makes transcoding more affordable, efficient, and scalable by utilising the computational power of the linked nodes.

Eric Tang and Doug Petkanics founded the network. They both have almost ten years of experience working with startups as software engineers. After they entered the cryptocurrency industry in 2016, they became aware that Ethereum lacked a decentralised video platform, which inspired both of the company’s founders to create Livepeer.

According to the founder’s statement on the official website, Livepeer is the first open infrastructure in the entire planet. It was created to deal with transcoding, a pricey component of the video streaming process.

Transcoding is the process of transforming video footage so that it can be streamed on various devices.

Contrary to popular misconception, Livepeer is not a programme. It is a protocol that allows other video streaming programmes to take advantage of its core features and technology.

The goal was to build a decentralised streaming network that would enable new video-streaming services to broadcast content for a lot less money. Livepeer Inc., a New York-based for-profit software company, created the fully open-source Livepeer protocol.

Livepeer Inc. has its own paid platform that offers video storage and content sharing capabilities using the Livepeer protocol. It is the revenue-generating model used by Livepeer.

Crypto venture capitalists invested 11 million dollars in the system. Livepeer launched its mainnet in 2018 and collaborated with Filecoin to host video material produced by Livepeer. Cryptocurrency experts have said

How does Livepeer work

The orchestrator and the delegator are the two actors that make up Livepeer.

In order to offer transcoding services, orchestrators give computational power to the protocol. Fees are paid in the form of ETH and DAI by the individuals or organisations who push their streams to orchestrators for transcoding. Livepeer makes use of probabilistic micropayments to address the issues of high petrol prices. It keeps the costs of the services down for the broadcasters. An orchestrator must stake LPT tokens in order to become one.

By staking LPT on orchestrators who have a solid track record, delegators offer security. They use the Livepeer Explorer to accomplish this. The lock-up period for staking LPT is seven days, with no minimum requirement. Delegators receive a portion of their inflationary rewards and transcoding fees in exchange for transferring tokens.

The orchestrator will decide what portion of the transcoding charge and rewards to provide to delegators.

What is LPT?

LPT is an ERC 20 token that orchestrators and delegators stake for rewards. It serves as the Livepeer protocol’s governance token. LPT owners vote via Livepeer Explorer to determine how the project will progress. The community has one orchestrator node. Projects chosen by the community are developed using rewards provided by this node.

The original token supply for LPT was 10 million. 5% are held in a financial reserve, 12% are with the Livepeer team, and 19% are with individual investors (which raised 4 million dollars).

Before the mainnet launch, the remaining 63% of the LPT tokens were airdropped to ETH wallets holding a minimum of 0.1 ETH. 3.6 million wallets had 2.4 LPT each after the airdrop.

The way the token was obtained was unusual. That is, users may only claim the LPT that was airdropped to them for the first three months prior to the mainnet debut. Unclaimed LPT tokens were drained upon the introduction of the mainnet.

The creators of Livepeer did this for two reasons. One is to make sure that only live ETH wallets receive the fallen LPT tokens. Maintaining the annual inflation rate was the second justification. Depending on the proportion of staked tokens to the overall supply, the inflation rate drops a little bit each day. Staked to total supply is currently 48.8%, and inflation is 0.0263%.

Is LPT a good investment?

By 2030, it is expected that the market for streaming video would be worth USD 972.31 billion. Both institutional and individual cryptocurrency investors are optimistic about the decentralised live streaming network’s future. However, before making an LPT investment, investors should bear the following things in mind:

Growth potential

The market for live streaming is expanding quickly. However, only the OTC market’s present players, like Amazon, Disney, Hulu, etc., are responsible for that expansion at the moment. A decentralised video streaming protocol will enable video streaming entrepreneurs to enter the market and benefit from this expansion.

Dual mining for Miners

Proof-of-Work miners are being recruited by Livepeer to serve as orchestrators. In order to provide better transcoding services, Livepeer will be able to utilise the GPU cards used for Bitcoin mining. This is so because the GPU’s video-card component is not necessary for Bitcoin mining. Miners can mine Bitcoin after becoming orchestrators and use the Livepeer network to gain ETH and DAI as broadcasting fees. In other words, they can benefit from Livepeer’s dual mining.

Plans for Complete Decentralization

LPT intends to become entirely decentralised. It may support the blockchain economy going forward.

Competition with Theta

With its content distribution network, Theta, Livepeer already has a competitor that is one step ahead (THETA). Services for video transcoding have just been added to the Theta platform. Theta has worked with both Google and Amazon, in contrast to Livepeer, which aims to continue being totally decentralised. It might have quicker access to technology and development tools thanks to that cooperation.

Fewer use cases for LPT

On the Livepeer protocol, services are paid for using LPT tokens. Orchestrators and delegators, who wish to stake LPT to access inflationary benefits, are the only demand generators for LPT.

The governance process is expensive

Livepeer’s governance procedure is pricey. Users must first deposit 100 LPT before they may submit a Livepeer improvement request. Then, these tokens are burned. Voting requires 33% of the LPT supply, and in order for the proposal to pass, 50% of the participants must vote in favour.

Livepeer Price

Compared to most other altcoins, Livepeer (LPTprice )’s movement was unique. LPT accumulated for a very long period before it started to increase significantly. Between the beginning and the middle of 2021, it only increased by 5x. There were three factors at play:

Only afterwards did the token holders recognise they should sell LPT.

At the start of 2021, exchange support was minimal.

No day-one listing pump for Binance

The introduction of Grayscale Livepeer Trust, which allowed LPT to attract institutional investors, was the main factor in this period’s growth.

When LPT’s price hit its all-time high (ATH) of $75 in November 2021, it had its greatest pump. That was the outcome of the bull cycle that took place in the latter half of 2021, when numerous altcoins exploded after BTC achieved its all-time high of $69k. LPT even reached a price of $101.80 on Binance when compared to Tether.

2022 saw LPT start at $41. On June 18, 2022, when Bitcoin likewise reached its 2022 low of $17.600, it fell below $10. On Binance, the 2022 LPT low was $6.45.

The Livepeer price is now ranging in the $8–10 range. With a circulating quantity of 24 million Livepeer coins, the market valuation of Livepeer is little over $200 million (ranked #127 on CoinMarketCap).

Livepeer Price Prediction

From its peak, the price of LPT has fallen 88% since then. This year, there were two quick falls in the cryptocurrency industry.

While it is challenging to anticipate the long-term price of LPT given the current bear market, a prognosis for the near future can be made.

After hitting bottom, the LPT coin immediately bounced. There is an increasing tendency in the pricing.

The LPT price might bottom out at $10 and rise to test $11, which could serve as a resistance level, if daily candles begin to close above the 0.236 Fib level.

Regarding a long-term price prediction for Livepeer, the roadmap contains two optimistic updates. The Livepeer Grant Program is the first. Developers of video applications, live streaming services, and creator apps hoping to take advantage of the Web3 ecosystem have received a total of $410k in funding from the creators.

The Livepeer Explorer update is the second. It has new filters for orchestrators, a redesigned interface, and a view of the live running list of network transactions.

The price action for Livepeer may be enhanced by future developments. They consist of the creation of a layer 2 blockchain, a peer-to-peer content distribution network, and software for stream content recognition for orchestrators. The Livepeer team also intends to collaborate with other blockchains that use smart contracts.

The cost may get even higher if Livepeer is successful in achieving its goal of becoming totally decentralised and gains wider support. LPT would need to increase by 700% in order to retest its ATH, which would take some time.

Best ways to Buy Livepeer

There are several ways to purchase LPT on cryptocurrency trading platforms. The top ways to invest in Livepeer are as follows:

Buy LPT using a Debit/Credit card

When purchasing LPT on eToro using a debit or credit card, a 1% fee is the only fee applied. While Crypto.com costs 2.99%, Coinbase charges 3.99%.

Buy LPT using PayPal

Visit our buying cryptocurrency on Paypal instructions. Although the purchase of LPT is not yet supported, any cryptocurrency exchange that has Livepeer listed can accept transfers of BTC, ETH, or LTC. PayPal deposits are also accepted by eToro.