{"id":346248,"date":"2022-09-16T00:58:41","date_gmt":"2022-09-16T04:58:41","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=346248"},"modified":"2022-09-16T06:20:40","modified_gmt":"2022-09-16T10:20:40","slug":"tug-of-war-in-play-golem-network-spikes-65-before-giving-up-gains","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/tug-of-war-in-play-golem-network-spikes-65-before-giving-up-gains","title":{"rendered":"Tug of War In-Play: Golem Network Spikes 65% Before Giving Up Gains"},"content":{"rendered":"

The Golem Network<\/a><\/span><\/span>\u00a0<\/span><\/span>is flipping between profit and loss, gaining 65% in seven days and losing it all in the same week. The tug of war between bulls and bears continues as both try to decide which direction to trade. GLM is a utility token to gain access to the Golem Network and pay for idle digital resources such as extra computing power in peer-to-peer transactions.<\/span><\/span><\/p>\n

Moreover, it is the native token of the Golem ecosystem and outperforms the overall cryptocurrency market. However, there is no apparent reason driving this surge. Furthermore, there isn’t much happening in the Golem ecosystem anytime soon.<\/span><\/span><\/p>\n

More on Golems: What’s Driving the Price Increase?<\/h2>\n

The Golem team is working on a resource exchange platform to provide software developers with an alternative to established centralized cloud service providers. The network functions as a peer-to-peer marketplace for surplus computing resources. According to the project’s website, its payment system, based on layer 2 of Ethereum (ETH), enables quick, inexpensive micropayments for easily scalable services while eliminating gas fees, onboarding fees, and other network fees congestion issues.<\/p>\n

As an Ethereum-based project, Golem aims to create a decentralized network that allows people to share and aggregate computing resources to build a global supercomputer. As a result, the upcoming Ethereum merger could cause a rising GLM\/USD price.<\/p>\n

Golem Network recently announced on Twitter that they are looking for new developers to join their team. Hiring is an indicator of a company’s growth, so this could be one of the reasons for such a massive increase in GMT.<\/p>\n

We\u2019re always looking for new developers to join us at <\/span>#Golem<\/a><\/span> and we understand that talent knows talent. That\u2019s why we offer existing employees +$4,500 for bringing a new superhero developer into the fold via our generous Team Member Referral Program <\/span>#DiscoverYourSuperpower<\/a><\/span> today<\/span><\/p><\/blockquote>\n

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We\u2019re always looking for new developers to join us at #Golem<\/a> and we understand that talent knows talent. That\u2019s why we offer existing employees +$4,500 for bringing a new superhero developer into the fold via our generous Team Member Referral Program #DiscoverYourSuperpower<\/a> today pic.twitter.com\/h8szU36qLh<\/a><\/p>\n

— Golem Network (@golemproject) September 8, 2022<\/a><\/p><\/blockquote>\n