The cryptocurrency market fell on Thursday, February 24, as Russia launched military action against Ukraine. However, the overall market seems to be recovering as the market cap has increased by 11.18% in the last 24 hours. At 9:00 am on the morning of February 25, the global market cap rose to $1.76 trillion, with major cryptocurrencies trading in the green. The bullish momentum is sustained by the last 24-hour gains that did not exceed 3% on Feb. 26, while a Web 3.0 coin gained 8,000% in volume. Let’s take a look at the reasons for this…
What is Web 3.0 coin Golem (GLM)?
According to its official website, Golem Network (GLM) is promoting a group of creators who want to develop software solutions by accessing computing resources in the protocol. GLM was launched in 2016 and the mainnet launched two years later. Golem creates a peer-to-peer (P2P) network and users can buy or sell the comp alike.
The native cryptocurrency used by the altcoin project for transactions is GLM and is used to pay for purchase calculations on the network. Notably, there was no particular reason for the price surge in Golem crypto, and it may be because of the overall crypto market recovery. The market capitalization of the Golem crypto is $518 million and registered ATH at $1.25 on January 8, 2018. Meanwhile, on December 12, 2016, its price was $0.008797.
As a result
According to CoinMarketCap, the sale of GLM tokens started on November 11, 2016 and reached the maximum cap with 1 billion tokens distributed within minutes. Since last year, the GLM has lost 20.8% as of February 25. The GLM token can be used for trading on many cryptocurrency exchanges, including Binance and Huobi Global. There are pros and cons to investing as the crypto market is highly volatile. For this reason, it is recommended to think and research well before investing.
The chart above shows the token price in the timeframe when GLM volume exceeded 8,000%. The current price range of the cryptocurrency is the 0.5 dollar zone. You can reach the list of the most rising memes and metaverse coins of the day, which we have transferred as Kriptokoin.com.