Post author:admin Post published:July 26, 2024 Post category:Ethereum News Key Insights Performance Analysis The usage of the Livepeer transcoding network decreased 22% QoQ. Nearly 31 million minutes of video were transcoded in Q2’24, down from the all-time high of 39 million in Q1’24, but on par with the 30 million mark set in Q4’23. Livepeer demand-side revenue from transcoding fees decreased 38% QoQ in USD terms. As usage of the Livepeer transcoding network decreased 22% QoQ, the price per minute transcoded dropped 21% QoQ from an average of $0.0021/min in Q1’24 to an average of $0.0017/min in Q2’24. Staking rewards grew 64% QoQ in USD terms, as the LPT issuance grew 12% QoQ and reached its highest level since the Arbitrum migration in Q1’22. This increase in LPT issuance corresponded to the staking participation staying below the 50% equilibrium threshold. The high level of staking rewards relative to fees earned via transcoding indicates that the Livepeer node operators rely heavily on staking rewards to sustain their day-to-day operations and offer competitive transcoding prices. Daily LPT issuance steadily increased from 0.020% in January 2023 to above 0.049% by the end of June 2024, in line with the staking participation rate staying below the 50% equilibrium threshold. For context, the dynamic LPT issuance in absolute terms follows the staking participation rate as below: No part of this report may be (a) copied, photocopied, duplicated in any form by any means or (b) redistributed without the prior written consent of Messari®. Tags: Ethereum News Please Share This Share this content Opens in a new window Opens in a new window Opens in a new window Opens in a new window Opens in a new window Opens in a new window Opens in a new window Opens in a new window Opens in a new window Opens in a new window Read more articles Previous PostUnderstanding the Composable Foundation: A Comprehensive Overview Next PostHead in the $CLOUD(s) You Might Also Like $ADA: Cardano Founder on the ‘Hardest Product’ IOG Has ‘Ever Worked On’ December 12, 2022 ETH Price Up As Merge Successfully Executed on Goerli Testnet August 15, 2022 Solana: InvestAnswers Explains How $SOL Price Could Go Up by Over 1000% September 21, 2022