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

Published 03/22/2021, 12:02 PM
Updated 03/22/2021, 01:40 PM
Grayscale listing ‘bump’ emerges as Livepeer (LPT) soars to a record high
ETH/USD
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Every bull market is marked by a particular trend that catalyzes and sustains the uptrend in asset prices. In late 2020, Ether (ETH) led the way as the Ethereum 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 Ethereum 2.0 launch.

As further signs of institutional money entering the cryptocurrency sector increase, the "Grayscale bump" has emerged as the newest trend that may trigger rallies in assets that are listed to be added to Grayscale's family of products. This is exactly what happened with Livepeer (LPT), a decentralized video streaming network and associated token built on Ethereum that was recently included in a new Grayscale trust.

LPT/USD 6-hour chart. Source: TradingView
Seven-day estimated use and fee volume on Livepeer. Source: Livepeer

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