According to blockchain analytics firm Arkham Intelligence, a multi-signature wallet associated with Golem has deposited approximately 4,000 ETH into deposit addresses on Binance and Coinbase. At the time of the transactions, this represented a value of over $10.42 million.

Why the Sell-Off?

The exact reasons behind these large-scale transfers remain unclear. ICOs were a popular fundraising method for cryptocurrency projects between 2016 and 2019, but regulatory pressures and waning investor interest have since diminished their prevalence.

Golem, which raised a staggering 820,000 ETH in its 2016 ICO, was a prominent player in this trend. Within minutes, the project had raised millions of dollars, marking a significant milestone in the ICO space.

Earlier this year, it was revealed that Golem had transferred over $100 million worth of ETH to various exchanges within a single month. The project has yet to provide a public explanation for these substantial sales.

Sales May Continue

Golem operates as a marketplace for computing power. Users can rent out their idle computing resources in exchange for GLM tokens, the project’s native cryptocurrency.

According to a roadmap shared in May, Golem has shifted its focus towards artificial intelligence, driven by growing industry demand.

Arkham data indicates that Golem still holds approximately 22,834 ETH, valued at $59.89 million, within its wallet, suggesting that further sales may be on the horizon.

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The post Golem, a Pioneer ICO Project, Dumps Millions in ETH appeared first on Coin Engineer.

GLM Coin Price Analysis:

GLM Coin almost doubled its price in just 1 day. Its been rising since two days and continues its journey. According to TradingView data its currently trading at $0.37 and up more than 5%.

Support level for GLM is $0.26 and resistance is at $0.47.

With Bitcoin exceeding $51,000 and money flowing into the market, altcoins are on the rise. However, a possible bad data in the market may also lead to declines in all cryptocurrencies, especially Bitcoin.

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The post GLM Rocketed to $0.43 What’s Next? appeared first on Coin Engineer.

In the announcement, the specified pairs for spot are:

UTC 08.00: ALICE/BUSD, AVA/BUSD, BICO/BUSD, CLV/BUSD, DEGO/BUSD, GLM/BUSD, KSM/BUSD, WAXP/BUSD

UTC 10.00: XTZ/BUSD, BNB/BIDR, DOGE/BIDR, SOL/BIDR, TKO/BIDR, XRP/BIDR

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In the announcement, it was underlined that the delisting of these trading pairs does not mean that the tokens will also be delisted. Therefore, it was stated that customers can continue to use the same tokens in other trading pairs.

Binance will also cease the Spot Trading Bot services applicable for the relevant trading pairs on the same date.

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The post Binance Delists 14 Crypto Pairs! appeared first on Coin Engineer.