You can also find out more about the following: Golem Network ETH has been the biggest attraction of the cryptocurrency landscape. This was a combination of ETH staking rewards and a massive Ethereum (ETH), liquidation.
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What will Golem’s strategy do to the ecosystem?
Golem Network recently made ETH sales
Golem Network began selling 3000 Ethereum daily. This is an impressive amount. One recent transaction was worth $9.37million. A segmented, gradual liquidation plan has resulted in a huge transfer of funds from the exchanges.
Editors of The Block said:
“The Golem Network has sent over $100 million in ETH to exchanges in the last month, a significant portion of its overall reserves.”
Golem has sold over 45.000 ETH during the past 40 days. The total value of this is $142,39,000,000. Transactions were made on Binance Coibase Bitfinex and other major crypto exchanges.
Ethereum Staking: The Development of the Golem Network
Golem Network has pledged 40,000 ETC to staking as part of its overall sales strategy. The move is in line with the other ETF stake incentives.
“In the past 40 days, they have sold 45,000 ETH (approximately $142.39 million). In addition, they also pledged 40,000 ETH today, and it is suspected that 75% of the pledge earnings will be used to incentivize the development of the Golem network and ecosystem.” – BitGet
The project also wants to use 75% of its stake income as an incentive to encourage the growth of Golem Network, and the ecosystem that surrounds it. The goal of this method is to encourage growth and innovation in the Golem Framework.
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What are the market reactions and investor sentiment?
Different market participants responded to Golem Network’s sale and stake strategy.
“The Golem team is shifting funds from its treasury into top centralized exchanges. The project’s treasury is now larger than the market cap of the GLM token, leaving investors angry.” – Cryptopolitan
Future Plans and the Golem’s Reasoning
Golem’s team decided to answer the concerns of investors. The Golem team has decided to respond to the investors’ concerns.
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“The Golem team explained the treasury moves are part of a staking experiment that should conclude in August.”
The Golem Network’s ETH sale initiative and stake-out experiment could provide greater insight on the Golem network long-term strategies.
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Source: watcher.guru