Livepeer’s Token Soars 150% Following Upbit Listing
The price of Livepeer’s native token, LPT, surged by 150% to reach $14.20 following its listing on the Korean exchange Upbit. This rally occurred amidst a decline in the broader cryptocurrency market, where Bitcoin decreased by 2% and the CoinDesk 20 Index fell by 3.5%.
Key Insights:
- The surge in LPT’s price comes after Grayscale included it in their newly formed Artificial Intelligence Crypto Sector, which positively influenced the token’s momentum, as noted by a crypto analyst.
- Additionally, Livepeer Foundation initiated a community survey to explore the platform’s strategic direction.
Despite the general downturn affecting many AI-related cryptocurrencies, LPT’s performance stands out on Friday, reaching its highest value in four months, according to CoinDesk data.
The price increase coincided with Upbit beginning to offer trading for LPT against KRW and Tether’s USDT earlier in the day, highlighting its growing presence in the crypto market.
This development indicates increasing interest in Livepeer as a decentralized AI video processing protocol, potentially signaling future growth opportunities for the token.
