LBRY Credits surges settling with over 100% gain in a day

LBRY Credits surges settling with over 100% gain in a day

By ircrp | ircrp | 12 Dec 2020


 

LBRY Credits the token fueling decentralized media sharing platforms such as lbry.tv and odysee competing with the likes of youtube, appears to have surged by few hundred percent in the early hours of December 11th 2020 despite any breaking news, later throughout the day facing some selling pressure and finding a local support with current gains well over 100%.

 

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Source: tradingview

  • The LBRY Credits token available under LBC ticker has suddenly surged around 11th December 02:00 on BITTREX exchange temporarily gaining over 330% increase of price within 30 minute time period to then later settle well over 100% of gains throughout the day, with no public news nor any significant spike in hype around the token currently ongoing.
  • With that the sudden spike may suggest some big player(s) investing into the space, or in the worst case we may be observing some significant price manipulation which some report as allegedly observing the price being artificially inflated in the past.
  • Despite the lack of information about the significant price increase there were somewhat significant news preceding the spike which could've been the motivator for some big player(s) entering the space for instance:
    • Few hours prior there was a popular publication over at reddit getting a lot of attention in terms of youtube's guidelines changes which are essentially striking all videos related to Hacking and IT-Security (including Tutorials)
    • With that there appears to be an uptake in youtubers already sharing on social media their frustrations and the that they are currently in the process of finding new homes, and LBRY quick to reassure the community that such restrictions will never be applied on its platforms.

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Source: twitter

  • There appears to be a stir of positivity among the existing lbry.tv and odysee community members with its users appreciating the price increase currently doubling the rewards they have been accumulating for watching, publishing and interacting with the content in the past.

 

 

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