A crypto project that initially raised 820,000 ETH in a 2016 ICO has sold a substantial amount of ETH on major exchanges.
Golem Network (GLM), an open-source platform facilitating decentralized computing power access, raised its Ethereum holdings when ETH was priced at $10.20 during its ICO in November 2016.
Golem aims to democratize access to censorship resistant computing power. This is facilitated by a cutting-edge protocol that allows users to supply and lease providers’ idle hardware in a peer-to-peer (P2P) manner.
According to Lookonchain, Golem recently sold 24,400 ETH valued at $72 million across Binance, Coinbase, and Bitfinex over a span of three days.
Despite these sales, the project retains 127,634 ETH valued over $381 million at current ETH prices around $3,000, marking an astronomical increase of over 29,000% since its ICO.
Louisiana has become the latest U.S. state to accept cryptocurrency payments for state services.
According to Spot On Chain analysts, the Ethereum Foundation is consistently selling off large quantities of Ethereum.
Franklin Templeton, the asset management giant with $1.5 trillion in assets, is set to launch a mutual fund on the Solana blockchain.
In 2024, Cardano (ADA) has seen impressive growth in its smart contract sector, particularly with Plutus V2.