Crypto traders will take any edge they can get. From fundamental research on long-term prospects to short-term price pumps created by new exchange listings, the 24/7 digital asset market provides opportunities for investors and traders of all stripes.
But this week, those traders who incorporate the Cointelegraph Markets Pro VORTECS
LPT, the Ethereum-based native token of decentralized video streaming network Livepeer, has seen some extraordinary ups and downs over the last three months. Valued at less than $2.00 in mid-January, it soared on the news that Grayscale Investments, one of the blue chips of digital asset investment, had been poised to launch an LPT trust.
Another pump came on March 17, with the official validation of the news that saw the token to its then-ATH around $30. By early April, it was nearing $40 on the news of an OKEX listing.
The rest of April and early May were largely uneventful for Livepeer, before a series of bullish news items once more saw the token reach its current all-time high above $44 on May 11.
As the graph below rom Cointelegraph Markets Pro illustrates, that rally was strongly driven by two announcements, delivered to the platform’s users as instantaneous NewsQuake
And then, Bitcoin and the entire crypto market tumbled… with Livepeer a major casualty.
The outlook became bleak for the asset as LPT embarked on an almost uninterrupted downward run that took it from its all-time high around $44 to the low of $11, registered on May 24.
Finally, this week brought good news that spelled a reversal of the negative trend. The VORTECS
The score before the storm
in the chart above the coin’s VORTECS
This spike coincided with Livepeer’s tweet of a new weekly record high in terms of the length of unique video transcoded — a real-world development that could convince investors that the asset had been undervalued.
Several hours later, the price began climbing (first red box), eventually reaching $24 on May 26. While still on the way to this local peak, the VORTECS
Sure enough, Markets Pro members have been seated in the front row for both, thanks to lightning-fast NewsQuakes
Cointelegraph Markets Pro is available exclusively to members on a monthly basis at $99 per month, or annually with two free months included. It carries a 14-day money-back policy, to ensure that it fits the crypto trading and investing research needs of subscribers, and members can cancel anytime.
Cointelegraph is a publisher of financial information, not an investment adviser. We do not provide personalized or individualized investment advice. Cryptocurrencies are volatile investments and carry significant risk including the risk of permanent and total loss. Past performance is not indicative of future results. Figures and charts are correct at the time of writing or as otherwise specified. Live-tested strategies are not recommendations. Consult your financial advisor before making financial decisions. Full terms and conditions.