Golem Crypto Overview – GNT Signals New Bullish Momentum: Today I’m taking a look back at the Golem crypto and its token GNT. Ranked number 46 in terms of coin market cap, Golem coin has been one of my favorites in top 50 because of their focus on fast rendering and machine learning.
Warsaw-based Golem is a decentralized, distributed super-computer established on the Ethereum platform, tapping into the global network. When you want to use Golem’s technology to do something for you, like rendering your complex images, it can do it for you in a fraction of the time of your normal computer. It automatically finds the best computer to do the job and pays that power provider for the task. Since Golem is distributed, anyone can use it for tasks, or offer their computer power to get paid by the blockchain. Even though it’s based on Ethereum blockchain, you can also use Golem’s platform to build your own projects.
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Now let’s take a look at the Golem Network Token, or GNT. According to their white paper, GNT coin is designed to ensure flexibility and control over the future evolution of the Golem project. Its market cap stands at around $165 million with a total supply of 1 billion GNT.
Looking at GNT’s price action on the daily chart, Tuesday marked an interesting point on its value versus Bitcoin. The GNT/BTC pair broke above the daily Ichimoku cloud as Golem gained over 5% by the end of the New York trading session. The future cloud appears bullish. If confirmed, the pair could start a new saucer bottom bullish reversal pattern with profit targets set at 0.000034 and 0.000044. With that, the confirmation could be a medium-term signal for future gains in the cryptocurrency.
What do you think about the Golem project and its cryptocurrency value? Will you consider adding the coin to your crypto portfolio, even though it’s ranked relatively low based on market cap? Let me know in the comments, and subscribe for more updates!
Don’t forget to complete your risk management due-diligence before developing your investment strategy.