Golem (GNT)Tests Above Ichimoku Cloud While the Rest of Cryptocurrency Market Slides [Video]
|Golem coin, not to be confused with the beast of Jewish folklore, was among one of the only cryptocurrencies that continued seeing gains on Wednesday after Tuesday’s bullish market. With a market cap of $5.19 million, Golem is ranked 35 of the cryptocurrency list. Also known as the “AirBnB of computing,” Golem is a global, open-source, decentralized supercomputer that can be accessed by anyone. In other words, it provides a market for putting your computer's excess CPU power to use for other people. That way, you could arguably make money while browsing your computer. Their ecosystem enables users and applications to rent out cycles of other users’ machines. Any user, from a single PC owner to a large data center can share resources through Golem and get paid in Golem Network Tokens, or GNT. Golem utilizes an Ethereum-based transaction system to settle payments. In fact, Golem CEO, Julian Zawistowski, believes Ethereum is by far the most promising blockchain platform, and that Golem could only be possible thanks to Ethereum. Golem itself is often talked about as one of the most ambitious projects ever built on the Ethereum blockchain. It’s token, GNT, is tradable on popular exchanges such as Poloniex, Bitfinex or Bittrex. Calculated by TradingView charting platform, GNT/USD tested above the daily Ichimoku cloud on Wednesday as it approached the $0.65 level. If a break is confirmed, we could see further gains towards the 50% Fibonacci retracement level of $0.77 in June. Thanks for watching, invest responsibly, and I’ll see you with more updates next time.
For more from Invest Diva, click here
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.