Show

Sherlock

Captain

Livepeer

The cryptocurrency market is always buzzing with new trends and coins that capture the attention of traders and investors alike. One such coin that has been making waves recently is the LPT coin. 
This coin has seen a significant surge in its price, making it one of the trending coins in the industry today. Currently trading at $5.63, the LPT coin has witnessed a whopping 40% price increase in the last 24 hours. 
But what’s causing this surge? 
<blockquote class="wp-block-quote"> 
 <a href="https://twitter.com/CryptoFaibik/status/1688416334961672192?s=20" target="_blank" rel="noopener noreferrer nofollow">According</a> to the famous Twitter analyst, Captain Faibik (@CryptoFaibik), “$LPT is on the verge of Falling Wedge Breakout following an extended period of Consolidation.” He further advises his followers to “Keep an eye on it.” 
</blockquote> 
In a recent tweet, renowned DeFi researcher and famous Twitter analyst, Sherlock (@Sherlockwhale), <a href="https://twitter.com/Sherlockwhale/status/1688470117019992064?s=20" target="_blank" rel="noopener noreferrer nofollow">provided a short call</a> on the $LPT coin. With specified entry points ranging from $5.272 to $5.609, Sherlock advises a stop loss on a 4-hour candle close above $5.709. 
<figure class="wp-block-image size-large"> 
 <img decoding="async" loading="lazy" width="1024" height="518" src="https://captainaltcoin.com/wp-content/uploads/2023/08/image-194-1024x518.png" alt="" class="wp-image-306507" srcset="https://captainaltcoin.com/wp-content/uploads/2023/08/image-194-1024x518.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-194-300x152.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-194-767x388.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-194-1536x777.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-194-2048x1036.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-194-297x150.png 297w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-194-100x51.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-194-692x350.png 692w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-194-788x398.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-194.png 1366w" sizes="(max-width: 1024px) 100vw, 1024px"> 
</figure> 
The final target for this short position is set at $3.994. Sherlock’s rationale behind this move is the observation that $LPT, upon hitting its daily resistance, has minimal chances of reverting to its entry points. As always, traders are advised to proceed with caution and conduct their own research. 
However, the buzz doesn’t stop there. Tory Green (@MTorygreen), a well-known trader and technical analysis expert, <a href="https://twitter.com/MTorygreen/status/1687870906599706624?s=20" target="_blank" rel="noopener noreferrer nofollow">has shed light</a> on the significance of LPT, especially in the realm of video transcoding. In a detailed thread, Green explains that video, which constitutes over 80% of total internet traffic, requires transcoding to be viewable across various devices. This process, though essential, is expensive and can cost companies millions. 
Centralized cloud providers like AWS, Google, and Microsoft dominate the transcoding market, leading to high competition, unreliable delivery, and potential censorship. Enter LPT, a decentralized solution offering a marketplace for transcoding services. Not only is it more affordable and scalable, but it also aligns with the ethos of #Web3, making it resistant to shutdowns or censorship. 
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:"> 
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"> 
 <div class="rh-colortitle-inbox-label"> 
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"> Unibot: Trading Intelligence that Makes You 7x More Successful! 
 </div> 
 </div> 
 <div class="rh-colortitlebox-text"> 
 <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px"> 
 <div class="rh-toggler-wrapper" style="height:100px"> 
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4a5.png" alt="💥" class="wp-smiley" style="height: 1em; max-height: 1em;"> Discover the edge in crypto trading with <a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="Unibot" href="https://captainaltcoin.com/go/unibot/" data-shortcode="true">Unibot</a> – a user-friendly Telegram bot that boasts a 35% profitability rate amongst users, seven times higher than the average trader (only 5% of traders are profitable)! Experience top-notch features like decentralized copytrading, DEX-based limit orders, and protection against MEV bots. <a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="Unibot" href="https://captainaltcoin.com/go/unibot/" data-shortcode="true"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"> Click to connect with Unibot <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"></a>! 
 Show more +Show less – 
 </div> 
 </div> 
 </div> 
</div> 
The LPT network boasts over 70K independent GPUs, having processed a staggering 186 million minutes of video. This is equivalent to the real-time video streaming of giants like Twitch, Facebook, and YouTube combined. The potential applications of Livepeer are vast, ranging from pay-as-you-go content consumption to uncensorable live journalism and video-enabled DApps. 
But the vision for LPT doesn’t stop at video transcoding. With a decentralized network of 70K GPUs, the coin has potential applications in AI, rendering, gaming, and more. As Green points out, the potential value of these use cases could be in the tens of trillions. For instance, AI alone is projected to be worth $80T. If LPT successfully taps into any of these sectors, its value could skyrocket exponentially. 
In conclusion, as Green aptly puts it, “$LPT is establishing a beachhead as a key technology provider in the large and growing video streaming market.” With its eyes set on the future, LPT could very well become a pivotal infrastructure provider in the estimated $10T to $30T metaverse. As always, the crypto market is unpredictable, but with insights from top-notch analysts like Captain Faibik and Tory Green, one can make informed decisions. 
The LPT coin is experiencing a significant surge today, driven by a combination of factors. Recent endorsements and analyses from top-notch cryptocurrency analysts and traders on platforms like Twitter have highlighted the coin’s potential, especially in the realm of decentralized video transcoding. Additionally, the broader market’s growing interest in decentralized solutions and the recognition of LPT’s innovative approach to addressing the challenges of video streaming costs have contributed to its bullish momentum. Furthermore, with the increasing adoption of decentralized platforms and the metaverse, LPT’s vision of becoming a key infrastructure provider has garnered significant investor attention, fueling its price rally. 
The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/why-is-lpt-price-pumping-today-top-analyst-shows-ideal-entry-levels/">Why is LPT Price Pumping Today? Top Analyst Shows Ideal Entry Levels</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.

Why is LPT Price Pumping Today? Top Analyst Shows Ideal Entry Levels

CaptainAltcoin

Other articles published on Aug 7, 2023

Crypto Whales are to meet at Blockchain Life 2023 in Dubai

NFT theft decreased 20% in July: report

Free Bets and Bitcoin bonuses at Juicy Stakes Casino!

XRP 12% Reversal More Than Possible, Elon Musk Says 'X' Will Never Launch Native Token, SHIB Lead...

Flare Networks Founder Says He Expected Massive XRP Dump After Lawsuit

PayPal introduces PYUSD Stablecoin For Payments

Join our free newsletter for daily crypto updates!