• Tue. Jun 18th, 2024

Coin Bureau Says Deep-Pocketed Crypto Investors Are Quietly Purchasing This Cryptocurrency

Phillip Seefeldt

ByPhillip Seefeldt

Jun 8, 2021

Coin Bureau’s host and well-renowned cryptocurrency influencer, who simply goes by the name ‘Guy,’ has stated that numerous investors have been quietly buying a specific altcoin and have been doing so under the radar.

Guy had informed him over 1 million subscribers to be on the lookout for Livepeer (LPT), mainly because the influencer had noticed a significant influx of capital being poured into the altcoin via Grayscale’s (a digital asset management company) Livepeer Trust. As of the time of this writing, LPT is trading at a price of $28.49, which is a 2% increase since yesterday.

What is Livepeer?

Livepeer may be understood as a blockchain-powered and decentralized platform meant primarily for video streaming purposes. It is currently on the ETH network. The goal of Livepeer is to be able to introduce and subsequently implement decentralization as well as blockchain onto the ever-growing live broadcasting and streaming industry. This objective is similar to the one exhibited by Livepeer’s chief competitor, Theta Network (THETA). LPT is the official protocol token for Livepeer; however, it is not the medium of exchange for the platform, as per the information provided via its whitepaper.

Furthermore, Guy had acknowledged the fact that despite throwing a substantial amount of money at it, LPT is still relatively unknown to the cryptocurrency community. Nevertheless, the influencer has continuously reminded his followers that the altcoin is definitely one to watch going forward.

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LPT might have serious potential

Guy had noted that despite Livepeer not being ranked higher, it is still generating a considerable amount of demand in a general sense for LPT. LPT had ascended by over 1,000% since last year and continues to show improvement to this day. The influencer, therefore, concluded that we could be on the verge of a huge LPT rally in the not-so-distant future.

The analyst went on to say that the overall trend for the metrics can be observed right now, and we can therefore see that LPT is definitely taking the best and most logical steps. The guy even went as far as to claim that LPT might just pull a 10x with regards to the current price, mainly because of the lack of whales and the relatively smaller market cap. Still, cryptocurrencies are nothing if not volatile, and time will tell whether the crypto influencer’s prediction shall come to fruition or not.

Phillip Seefeldt

Phillip Seefeldt

Phillip Seefeldt is a skilled and perceptive news writer known for his comprehensive analysis and engaging writing style. With a commitment to accuracy and a deep understanding of current affairs, his articles provide readers with insightful perspectives and thought-provoking insights.

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