Massive Rally: Livepeer and SingularityNET Explained
Livepeer, a decentralized live video streaming network protocol, and blockchain-powered AI platform SingularityNET on Friday massive rally with huge trading volumes, sparking buzz in the crypto community. What are the reasons behind the sudden upswing?
OpenAI’s Sora News Impact on LPT and AGIX
OpenAI announced its text-to-video artificial intelligence model Sora. It can generate videos that are realistic and imaginative. Sam Altman asked followers to suggest messages and used Sora to turn their X posts into one-minute videos. This has sparked renewed interest in AI tokens, with LPT and AGIX leading the rally.
While OpenAI Sora is a huge advancement in the AI field, SingularityNET as an AI marketplace is actively working to create decentralized benevolent Artificial General Intelligence (AGI). The AI decentralization will help people, coding, data, and processing.
LPT Price Rally Analysis
As per Coinglass liquidation data, Sam Altman’s Worldcoin (WLD) saw $3.30 million liquidated, while Livepeer (LPT) and SingularityNet (AGIX) recorded $2.77 million and $800k liquidated in the last 24 hours.
LPT price pares some gains after soaring over 60% in the past 24 hours, with the price currently trading at $12.23. The 24-hour low and high are $7.98 and $13.62, respectively. Furthermore, trading volume increased by more than 1250% in the last 24 hours, indicating a massive interest among traders.
The descending channel breakout in LPT caused a massive rally in the last 24 hours, providing traders with enough confidence for heavy buying.
AGIX Price Rally Analysis
Meanwhile, AGIX price also rising due to the breakout from cup-and-handle pattern. The price is currently trading at $0.381 after paring most gains in the last 24 hours soaring. The 24-hour low and high are $0.316 and $0.429, respectively. Furthermore, trading volume increased by 350%.
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