Golem Network Sells Millions in ETH, Holding Onto Even More

A project called Golem Network, which raised a huge amount of Ethereum back in 2016, recently sold off a big chunk of its holdings.

Golem Network: From ICO to Big Sale

Golem is a platform that lets people share their computer power with others. In 2016, when Ethereum was only worth $10, Golem raised a whopping 820,000 ETH through an ICO.

Recently, Golem sold 24,400 ETH, worth a cool $72 million, on exchanges like Binance, Coinbase, and Bitfinex. Even after the sale, they still hold onto a massive 127,634 ETH, worth over $381 million!

Ethereum’s Price Surge

Since that ICO, Ethereum’s price has skyrocketed over 29,000%! That’s a huge return for anyone who held onto their ETH.

Whale Moves Millions in PENDLE

While Golem was making headlines, a “whale” (someone with a huge amount of crypto) moved 1.1 million PENDLE tokens, worth $3.8 million, to Binance. This could mean they’re planning to sell on the open market.

This whale bought up a lot of PENDLE earlier this year, paying an average of just $0.32 per token. Now, with PENDLE trading at $3.42, they’re sitting on a pretty big profit!