👀👀Huge Transaction from Altcoin Project That Collected 820 Thousand Ethereum: Is It On Sale? 👀👀

After collecting millions of dollars worth of Ethereum, the Golem Foundation may have started selling some of these assets.

According to Etherscan records, Golem Foundation sent 36,000 Ethereum to centralized cryptocurrency exchanges such as Binance, Coinbase, Bitfinex.

The value of Ethereum sent at the time of these transactions was approximately $115 million.

According to Arkham Intelligence founder Miguel Morel, coins are often sent to centralized cryptocurrency exchanges for the purpose of selling.

Selling pressure on Bitcoin and Ethereum has begun to increase in recent weeks. The German government in particular sold tens of millions of dollars worth of Bitcoin in the past week.

CoinGecko data shows how Bitcoin and Ethereum prices are affected by these sales. Over the past seven days, Bitcoin has lost 12.1% and Ethereum has lost 16.1%.

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

Golem collected 820,000 Ethereum during its initial coin offering (ICO) in November 2016.

Last year, with Ethereum's transition to proof-of-stake (PoS) mechanism, Golem Foundation staking 98,016 ETH.

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