On the official website, the Golem factory calls itself an open-source and decentralized network where everyone can use and share each other’s computing power.
The platform aims to replace the centralized entities like cloud computing corporations that are the existing players in the domain. This will allow developers, researchers, and other users to harness the unused computing power in the world.
At the same time, the platform allows ordinary people like you and me to earn by renting the computational power of their computers.
The native utility token of the Golem ecosystem is known as GLM. It is the preferred mode of payment and also serves the staking and governance purposes of the platform.
This article is your go-to guide for understanding the Golem resource-sharing ecosystem, its features, and its upcoming plans.
We will also discuss its gas token, GLM, its past performance, and expected future prices. Let’s just dive in without any further ado.
Golem (GLM) Key Features
| Decentralized Computing | Golem Network is a decentralized platform that offers on-demand computational resources without a middleman. |
| Community Driven | Golem Factory, as they are called, encourages participation by fostering a thriving community and incentivizing them to contribute and benefit from the platform. |
| Golem Token | The Golem token ($GLM) acts as a medium of exchange and facilitates seamless transactions between, what they call, Providers and Requestors. |
| Highly Scalable | As a Requestor, one can gain access to scalable, cost-effective, and decentralized computing. |
| Monetize Computing Power | As a Provider, you can monetize your available computational power and get paid for it. |
| Open-Source | Golem is built to be flexible and open to contribution thereby democratizing the access to digital resources. |
| Lightweight Protocol | The platform uses a lightweight protocol for application development that offers anonymity and prevents censorship. |
| Micropayments | The ecosystem uses the GLM token on Ethereum’s Layer 2 for fast and cheap micropayments. |
Golem (GLM) Tokenomics
$GLM has a total supply of 1 billion tokens and all of it is already in circulation. Currently, the token possesses a market cap of over $480 million and a potential fully diluted market capitalization of $372 million.
82 percent of all Golem tokens are distributed through token sales. Another 12 percent was retained by the Golem Factory for team incentives and project development subjected to a six-month lock-up period.
The remaining 6 percent was allocated to early contributors and team members and had the same lock-up period.
Golem (GLM) Past Performance
The initial launch of the token commenced in November 2016 and $GLM debuted at $0.15.
In May 2017, the cryptocurrency joined the ongoing crypto bull run and crossed the 1-dollar barrier in January 2018. However, it was followed by a sharp correction.
In March 2021, it started to gain steam, riding along the bull rally catalyzed by the halving event of Bitcoin.
After briefly touching $0.6 late that year, its prices gradually declined until the end of 2023.
Starting with February 2024, $GLM has been on fire, breaking 2-year highs for a week in succession.
While I am penning these lines, $GLM is traded for $0.37.
Golem (GLM) Price Forecast 2024
Technical indicators suggest that the current market sentiment about Golem is Neutral and the Fear & Greed Index score stands at 72, still signaling Greed.
Over the past 30 days, Golem had 20 (67%) green days with a relatively low 4.65% price volatility.
According to our expert team’s analysis, GLM price is expected to be -5.29% less than the current price by February 22.
In 2024, $GLM is expected to hit a bottom of $0.16 and a peak of $0.25, averaging $0.35.
If the investor sells at the upper bound, he can cash in a tidy 25.4% return.
Golem (GLM) Price Forecast 2025
The yearly technical analysis of Golem prices suggests that the minimum price of Golem will be $0.72.
The maximum price is expected to be $0.84.
The average trading price forecast stands at $0.74 in 2025.
If an investor buys now and jumps the ship near the peak price in 2025, he can make a 143.4% return.
Golem (GLM) Price Forecast 2030
Though a little far-reached, our experts estimate that $GLM will be traded between $4.92 and $5.73 in the year 2030.
The average price forecast is $5.05 during this year.
This is based on the assumption that the crypto industry will continue its growth spurt throughout the decade and the major cryptocurrencies like Bitcoin and Ether will enter a phase of maturity during this period.
The upper-bound price prediction will translate into a 1564.2% return compared to today’s prices.
Where to Buy Golem (GLM)?
The popular options to buy $GLM include centralized exchanges (CEX) like Binance, Bithumb, OKX, Coinbase, KuCoin, Gate.io, Upbit, Tokocrypto, etc.
You can also get your Golem tokens from a decentralized exchange (DEX) like Uniswap V3 (Ethereum)
How to Buy Golem (GLM)?
If you care about trading charges, Binance is probably the best place where you can buy $GLM. Here’s how you can do that.
- Start with registering for a free Binance account on the smartphone app. If you are a desktop person, you can choose Binance’s website.
- Now, verify your identity by completing the KYC procedures.
- Load your account by transferring a fiat currency via a credit card or bank account transfer.
- Navigate to the trading section and search USDT. Click ‘buy’ and hit ‘confirm’.
- Now, type USDT/GLM in the search box. Choose a limited order.
- Once again, click ‘buy’ followed by ‘confirm’.
- Once the transaction is complete, your tokens will be reflected in your Binance wallet.
Conclusion
The Golem network offers a range of features that make it a next-generation open-source platform for building and running highly reliable services.
The ecosystem has a committed development community and a loyal user base. Though the platform was launched back in 2016, and had some beginner’s luck with investor interest, the momentum wore off into the 2020s.
However, the token is again entering similar conditions that led to its previous bull runs.
Our analysis shows that $GLM has excellent upside potential in the coming months and years.
To add some caution to that optimism, note that cryptocurrency markets are susceptible to extreme price fluctuations and can be impacted by market conditions apart from the underlying value.
The reader is highly suggested to do their independent research before putting money into crypto assets or, for the same reason, any such instruments.
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