Golem (GNT)Tests Above Ichimoku Cloud While The Rest Of Cryptocurrency Market Slides
Golem (GNT)Tests Above Ichimoku Cloud While the Rest of Cryptocurrency Market Slides: 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.
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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.
Its 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.