In 2016, Golem achieved great success with its ICO, raising a total of 820,000 Ethereum (ETH). This was a substantial amount at the time and created high expectations for the project’s future. Golem set out with the goal of creating a decentralized supercomputer, which garnered significant interest among crypto investors.
Major Transfer in the Last 37 Days
Recently, Golem attracted attention with large ETH transfers to cryptocurrency exchanges. In the last 37 days, approximately $115 million worth of 36,000 ETH was transferred to leading exchanges like Binance, Coinbase, and Bitfinex.
Even after this large transfer, Golem still holds a reserve of 231,400 ETH. The total value of these ETHs is approximately $656 million. This asset is seen as an important resource for financing Golem’s projects and sustaining its operations.
Ethereum Staking Tests Announced
About 3 weeks ago, Golem Network announced the start of Ethereum (ETH) staking tests. Allocating a small but significant portion of its reserves to this initiative, Golem aims to support future growth and development. The returns from staking will be used for the network’s development and growth.
Golem Network plans to engage in solo staking to support Ethereum’s decentralization efforts. This move aims to reduce the dominance of large staking entities and create a more decentralized network. Golem aims to enhance the overall health and sustainability of the Ethereum ecosystem through solo staking.
Benefits of ETH Staking
Golem Network highlights several advantages related to its ETH staking initiative. According to Golem, the income from staking will support the development and growth of the Golem Network ecosystem. Solo staking will contribute to a more decentralized Ethereum network.
Additionally, staking will help diversify Ethereum validator clients, creating a healthier and more resilient ecosystem.
Golem Network will also inform the community about the progress of the ETH staking initiative. This step is seen as an important development aimed at enhancing the capabilities and sustainability of the Golem Network and the Ethereum ecosystem. This strategic move by Golem Network will contribute to its decentralization and growth goals. At the time of writing, ETH, the leader of altcoins in the crypto world, was at $2,909.
