Cycle Capital: Livepeer (LPT), new narrative of full circulation

Author: Cycle Capital Source: Medium

1. Basic development

Since we have re -paid attention to Livepeer in 2023, it has gradually moved from a decentralized video stream network to the leader of the decentralized AI video track.More than 21 dollars.

After the release of OPENAI on February 16th in 2024, Livepeer announced that the community was working hard to introduce these features into the Livepeer network in the next few months. It has been part of the artificial intelligence video plan. Since thenEssence

On May 21, Livepeer issued an announcement on launching AI subnets, marking that its plan to decentralize AI videos is gradually landing.AI subnet is a split branch of the Livepeer video infrastructure network, providing a sandbox for the security development and testing of the new decentralized AI media processing market and tools.The architecture of AI subnet aims to organize different AI reasoning tasks into discrete operations, and to send, receive and return job requests through specific pipes.Ziwang also allows Livepeer Orchestrator node operators to earn ETH and LPT revenue by deploying GPU resources for AI processing tasks.The launch of AI subnet is expected to make Livepeer the world’s first decentralized video processing network with AI computing power.The thousands of GPU open networks of Livepeer will provide low -cost, high -performance processing to solve the structural problems of centralized AI computing.

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It is divided into three development phases in the roadmap in the direction of Livepeer AI:

The first stage: AI subnet design and stability (completed)

The first phase of the sub -network concept verification design and the initial entry of the existing LivePeer Orchestrator node operator ended on May 1st. More than 20 high -performance AI orchestrator nodes are already active.

The second stage: AI subnet optimization (in progress)

At this stage, it focuses on improving the service quality provided by the AI ​​Orchestrator and AI Gateway node operators.The goal is to enhance network supply by expanding the scope of compatible GPU (low VRAM GPU and server GPU), reducing the loading time and processing edge of the container.At this stage, the work also includes the entry experience of application developers through the new artificial intelligence video startup plan to cooperate with the selected design partners.

Third stage: Livepeer’s main network and AI network extension (the third quarter of 2024)

It is expected to launch the main network in the third quarter of 2024 to provide AI developers with a high -quality experience and equipped with tools and software development tool packages.Network expansion will allow efficiently implement custom models and workflows, safely run custom container code, and achieve flexible reasoning requests to reduce the cost of developers, and establish a method of verifying the authenticity of coordinator and ensuring the source of content.

In addition, Livepeer has introduced pledge function and will launch pledge and related data instrument panels in June.

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Second, tokens update

The current market value of LPT is 720 million, and the tokens are circulating. The main trading venues are Binance. The current two-week transaction volume/mc is between 10%and 20%

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After the high point of March has fallen, new support has been formed. The first dense transaction area is 14.5, followed by 17–19; the technical form is in line with the key point of Fibonacci.

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In the 4 -hour volume and price relationship, the increase with the volume of green columns, the red column volume fell less, and the buyer’s power was strong.

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In the past 30 days, the data on the chain newly appeared a large amount of currency flow. According to ScpoPescan data, a large amount of $ 108W is 5.14 days, and the CEX net outflow of about 50W.With reference to NANSEN data, the first 20 positions have been added to the three large households in the past 30 days, with a total of about 95W. Except for the junior and third party hosting address, the other non -exchanges address chains have less.

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Source: ScopeScan

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Source: nansen

3. Summary

1. At the large level of the month, the bottom of the LPT is absorbed for more than one year. The current self -rising opening has gone through 3 months, the price increases by 3-14 times, and the long -term chips need to be continuously distributed.

2. In the recent daily level, there are obvious chains on the chips to build positions. The price form is in line with the key location of Fibonacci. The buyer is stronger than the seller in terms of volume and price relationship.

3. The project opens the new narrative of AI. The full circulation of tokens is fully replaced. The market value is moderate relative to other AI targets. The fundamentals have foreseeable favorable and waiting to be released.

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