Livepeer (LPT) has emerged as the top performer among the top 100 cryptocurrencies, experiencing a significant rally in its price recently. However, heightened profit-taking activities suggest potential volatility ahead.

In the past 24 hours, LPT has surged by 17.7%, currently trading at $24.5 with a peak intraday high of $26.16. This rally has propelled Livepeer's market capitalization past the $800 million mark, securing its position within the top 100 cryptocurrencies, currently ranked 95th.

The trading volume for Livepeer has also seen a substantial increase, soaring by 108% to $140 million, reflecting heightened investor interest and trading activity.

Livepeer, launched in 2017, stands as the pioneer decentralized and open-source platform for live video streaming. The journey of its native token has been marked by significant milestones, plummeting to an all-time low of $0.42 in March 2020, followed by a remarkable surge to an all-time high of $100.24 during the bull run of 2021.

Recent data from Santiment highlights a notable increase in LPT exchange inflows, rising by 115% over the past 24 hours, from 60,638 tokens to 130,250 LPT coins. This influx indicates that certain investors, including whales, are capitalizing on short-term profit opportunities.

Conversely, Livepeer has also witnessed a 42% increase in exchange outflows during the same period, climbing from 74,984 coins to 106,630 tokens. This movement suggests that some holders are opting for long-term investment strategies amidst the price surge.

According to Santiment's data, the relative strength index (RSI) for LPT has risen from 48 to 61 in the past day, signaling that Livepeer may be slightly overbought at its current levels. This uptick in RSI, coupled with increased trading volumes and exchange activities, could potentially lead to heightened price volatility in the near term.

As Livepeer navigates through these dynamics, market observers are keenly monitoring its price movements amidst the evolving cryptocurrency landscape, anticipating both short-term corrections and potential continuation of its bullish momentum.