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Golem has transferred a substantial amount of Ethereum (ETH) to various cryptocurrency exchanges over the past month. Golem is one of the most prominent Ethereum Initial Coin Offering (ICO) projects.

Key points:

According to blockchain data tracked by Arkham and reported by journalist Colin Wu, Golems main wallet has been consistently moving ETH to other wallets.

The funds were then moved to other crypto exchanges. These transactions happened almost every day, with the transactions mostly being under $10 million each.

Golem was one of the most successful ICOs during the 20162019 boom period. At the time of its ICO, Golem raised over 820,000 ETH, valued at $8.7 million.

Despite the large transfer of ETH to exchanges, Golem still holds 157,360 ETH according to Arkham data. The holdings are worth approximately $530 million at current market prices.

The timing of these transfers is particularly interesting given the current state of the cryptocurrency market and Golems recent focus on artificial intelligence (AI) tools. In May, Golem released a roadmap spotlight highlighting its work on AI-based projects.

The offloading of Ethereum also happens at a time when Ethereum is not in its best shape in terms of price. ETH is down almost 18% in the last 30 days. It is also happening at a time when the community is awaiting the launch of Ethereum ETFs.

Vignesh Karunanidhi

Vignesh has been a seasoned professional in the crypto space since 2017. He has been writing for over 6 years and specializes in writing and editing various types of crypto content, including news articles, long-form pieces, and blog posts, all focused on sharing the beauty of blockchain and crypto.

Milk Road Writer

Vignesh has been a seasoned professional in the crypto space since 2017. He has been writing for over 6 years and specializes in writing and editing various types of crypto content, including news articles, long-form pieces, and blog posts, all focused on sharing the beauty of blockchain and crypto.

Link:

Golem Moves 36,000 Ethereum to Binance And Coinbase Amidst Market Uncertainty - Milk Road