Binance Transaction of Altcoin Project Collecting 820 Thousand Ethereum Draws Attention

The deposit of more than 4 thousand Ethereum into cryptocurrency exchanges by the Golem team attracted attention.

The Golem project continues to hold some of the 820,000 ETH it collected in the ICO it held in 2016. Important transfers and investments made in recent days attract attention.

Is he sending it to sell?

On July 15, address 0x7d…6CF9 belonging to Golem transferred 4,049,998 ETH (worth approximately $12.93 million) to the Coinbase and Binance exchanges. With this transfer, Golem still has 66,327 ETH, the value of which is calculated as approximately 211 million dollars.

The Golem Foundation attracted attention by depositing 98,016 ETH (approximately $183 million) into Ethereum's Proof of Stake (PoS) system. This move accounts for a significant portion of the 820,000 ETH that Golem raised during the ICO.

Golem Network is described as “a global group of creators developing software solutions that will shape the technological environment of future generations.”

Golem, a decentralized computing power market, is considered one of the pioneering projects in the field of blockchain. With its crowdfunding in 2016, it launched its first application, Brass Golem, which became operational in 2018. The main purpose of the project is to provide resources for projects that require computing power, without the intervention of central authorities.

Experts examining this project find it remarkable that Golem still retains a large portion of the ETH amount it collected during the ICO and uses these resources with strategic moves. Of the 820,000 ETH, 721,984 (worth approximately $524 million) is still under Golem's control.

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