LPT (Livepeer) rose 23.42% in the last 24 hours.

Gate News Bot news, on August 28, according to CoinMarketCap data, as of the time of writing, LPT (Livepeer) is currently quoted at $8.45, with a 23.42% rise in the last 24 hours, peaking at $8.67 and dropping to a low of $5.77, with a 24-hour volume of $685 million. The current market capitalization is approximately $370 million, an increase of $70.2 million compared to yesterday.

Important news about LPT recently:

1️⃣ Livepeer participation rate breaks 50.4% The participation rate of the Livepeer network has exceeded 50.4%, and the achievement of this important milestone will trigger the protocol’s inflation reduction mechanism. The decrease in the inflation rate is expected to enhance the tokenomics model of LPT while maintaining the consistency of incentives for network participants. This development provides strong upward momentum for the price of LPT.

2️⃣ volume significantly rise The 24-hour volume of LPT surged from $145 million the previous day to $685 million, an increase of over 370%. The significant rise in trading activity reflects the strong interest in LPT in the market, providing ample liquidity support for its price pump.

3️⃣ Market Capitalization Rapid Expansion LPT market capitalization rose from 301 million USD to 370 million USD in just one day, an increase of 23%. The rapid expansion of market capitalization not only reflects the growing confidence of investors in the Livepeer project but also enhances LPT’s position and influence in the cryptocurrency market.

From a technical standpoint, the LPT price continues to rise strongly after breaking through the key resistance level of 7 dollars, and is currently close to the short-term high of 8.7 dollars. However, considering the significant rise in a short period, investors should remain vigilant about the potential risk of a pullback.

This message is not intended as investment advice, and investors should be aware of market volatility risks.