Golem Makes Large ETH Transfers, Initiates Ethereum Staking Tests

Author: Nidhi Kolhapur

Nidhi Kolhapur

Author

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

Jul 8, 2024 11:12

Golem has attracted attention with the large ETH transfers to crypto exchanges. In the last 37 days, approximately $115 million worth of 36,000 ETH was transferred to leading exchanges like Binance, Coinbase, and Bitfinex. Despite the large transfers, Golem still holds a reserve of 231,400 ETH, valued at approximately $656 million. Recently, Golem Network announced the start of Ethereum (ETH) staking tests. Allocating a small but significant portion of its reserves to this initiative, Golem aims to support future growth and development.