The Altcoin Project That Gathered Huge Ethereum in 2016 Doesn't Stop: They're Selling Again!

Golem Foundation, which has millions of dollars worth of Ethereum (ETH), continues sales.

According to the data provided by the on-chain analysis platform Lookonchain, Golem has rolled up its sleeves for resale. On July 9, the Golem front transferred 4,600 ETH worth $14.1 million to the cryptocurrency exchanges Binance, Coinbase, and Bitfinex.

It is thought that these transfers are a pre-sale preparation process. There was no official statement from the company regarding the reason for these transactions.

Golem managed to attract attention by sending 29,000 ETH worth $88.9 million to Binance, Coinbase and Bitfinex in just the last 5 days.

They bought Ethereum in 2016

The company joined Ethereum at the IPO stage and raised 820 thousand Ethereum in November 2016. Thanks to this investment, they achieved profits of hundreds of millions of dollars.

Golem is a blockchain-based software where users can buy and sell computing power for various purposes such as artificial intelligence, cryptocurrency mining, and more. Golem Foundation was established to support projects in the Golem ecosystem.