Cointelegraph.com

Grayscale listing ‘bump’ emerges as Livepeer (LPT) soars to a record high

Livepeer price quickly rallied to a new all-time high shortly after Grayscale Investments revealed a new product offering.
Every bull market is marked by a particular trend which which catalyzes and sustains the uptrend in asset prices. In late 2020 Ether (ETH) led the way as the network saw a surge in activity due to the growing popularity of the decentralized finance (DeFi) sector and the expectation that the altcoin would rally into the Eth2 launch. As further signs of institutional money entering the cryptocurrency sector increase, the ‘Grayscale bump’ has emerged as the newest ‘trend’ which may trigger rallies in assets that are listed for addition to Grayscale’s family of products. This is exactly what happened with Livepeer (LPT), a decentralized video streaming network built on the Ethereum (ETH),  that was recently included in a new Grayscale trust. LPT/USD 6-hour chart. Source: TradingViewData from Cointelegraph Markets and TradingView shows that the price of Livepeer has catapulted more than 1,000% since it was first revealed as a token of interest for Grayscale Investments and the price has rallied from $1.77 on Jan. 21 to a new all-time high of $34 on March 20.Grayscale forms an LPT trustThe price rally for LPT kicked of on Jan. 21 when it was revealed that Livepeer was one of the projects that Grayscale had formed trusts for as the firm explored potential product offerings. On March 17, Grayscale Investments CEO Michael Sonnenshein helped ignite another rally for LPT after posting the following tweet which announced the official launch of new …
Story continues on Cointelegraph

Related posts
Bitcoin miningBusinessCointelegraph.comMiningNasdaq

Mining firm aims to go public through merger with Nasdaq-listed company

Support.com and Greenidge Generation are expected to complete the merger in the third quarter of 2021. Greenidge Generation, a New-York based Bitcoin mining company that owns its own power plant, aims to go public through a merger with technical support…
BlockchainCointelegraph.comNFTWilliam Shatner

William Shatner-backed firm teams up with Mattereum for NFT provenance tracking

Mattereum and William Shatner’s Third Millenia are collaborating to combat counterfeiting in the expanding nonfungible token space. Blockchain authentication outfit Third Millenia — founded by science fiction icon William Shatner — has partnered with Mattereum, a London-based “digital twin” trading…
BitcoinCointelegraph.comFederal Reservegoldjerome powell

Bitcoin is 'more a substitute for gold than the dollar' — Fed Chair Powell

Jerome Powell reiterates his opinion about Bitcoin as a gold substitute, but a sell-off accompanies his other criticisms. While Bitcoin (BTC) is too volatile to be money and “backed by nothing,” it could be a “substitute for gold,” says the…