Livepeer (LPT), the native token of the video streaming network, has seen a price surge over the past 24 hours. The token is currently trading at $24.53, up 17.01% in the last day. LPT’s price performance has been within a 24-hour low of $20.97 and a high of $26.16.
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Introduction of AI Video Subnet Sparks Speculation
The price pump can be attributed to the introduction of Livepeer’s new AI Video Subnet, which has generated excitement about the future of video and artificial intelligence (AI) integration. This capability allows content creators to generate videos from simple prompts, opening up a world of possibilities for content creation.
With the introduction of the AI Video Subnet, Livepeer is on the brink of seeing a new wave of apps and integrations that allow creators to experiment with generative media. Models like Sora are inspiring app builders to include generative video capabilities in their offerings, further driving the adoption of Livepeer’s technology.
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Show more +AI-Enhanced Video Workflows
In addition to generative AI, Livepeer’s AI Video Subnet also has the potential to improve existing video workflows. Some of the enhancements include:
- Upscaling: Transforming low-resolution videos into high-definition content
- Subtitles: Automatically generating subtitles from speech
- Interactivity: Recognizing objects in videos to make them interactive
Livepeer’s upcoming roadmap phase will support custom pipelines for generative and workflow-enhancing AI, enabling developers to meet all their video AI needs.
Analysts Predict Further Upside Potential
Analyst JAVON MARKS has noted that LPT is nearing new post-breakout highs and could be in the process of a run to the $64.706199 target. This would represent an additional 152% upside from current levels.
However, not all analysts are bullish on LPT’s short-term prospects. Traderfoxy expects the failure of the recent breakout attempt and suggests that LPT might test the range lows around $20.659 in the near future.
Read more: Ripple (XRP) Poised for Potential Vertical Rally as Retracement Nears Completion
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