Decentralized network protocol Livepeer (LPT) and blockchain-powered artificial intelligence platform SingularityNET (AGIX) have sparked excitement in the crypto community with significant trading volumes and a serious rally throughout the day. What are the reasons behind this sudden surge?
Reasons Behind Livepeer’s Rise
Today, Livepeer highlighted its efforts to bring affordable and open access to the community’s capabilities to the Livepeer network in the coming months as part of the Livepeer AI video initiative. Although OpenAI’s Sora represents a significant advancement in artificial intelligence, SingularityNET is actively working to create a decentralized network for Artificial General Intelligence (AGI).
The introduction of OpenAI’s Sora has renewed interest in artificial intelligence and led to a rally in AI tokens, with LPT and AGIX currently on the rise. According to Coinglass liquidation data, Sam Altman’s Worldcoin (WLD) liquidated $3.30 million in the last 24 hours, while Livepeer (LPT) and SingularityNet (AGIX) liquidated $2.77 million and $800 thousand, respectively.
Increased Trading Volume for LPT
LPT‘s price has retraced some of its gains after rising over 60% in the last 24 hours, currently trading at $12.23. The 24-hour low and high values are $7.98 and $13.62, respectively. Additionally, a more than 1250% increase in trading volume over the last 24 hours could indicate significant investor interest. The break of the descending channel in the cryptocurrency has led to a significant rise in the last 24 hours, providing traders with confidence for purchases.
Moreover, experts suggest that the price of AGIX is also rising due to the breakout of a cup and handle formation. The altcoin’s price, after retracing most of its gains from the last 24-hour surge, is currently trading at $0.381. The 24-hour low and high values are $0.316 and $0.429, respectively. The trading volume has also increased by 350%.
