Glm Crypto: Is It A Smart Investment Move?

Golem (GLM) is a peer-to-peer network that enables users to exchange unused computing power. It is based on the Ethereum blockchain and has a maximum supply of one billion tokens, all of which are currently in circulation. Golem has a market capitalisation of around $415.6 million as of September 2022, making it the 94th largest cryptocurrency by that metric.

Golem has been described as a risky investment due to its price volatility. However, it has been predicted to have a higher probability of increasing in value than decreasing due to its good use case, well-designed tokenomics, active community, and solid team.

As with any investment, it is essential to do your own research and only invest what you can afford to lose.

Golem's price volatility

Golems Price Volatility

Golem (GLM) is a utility token based on the Ethereum blockchain. It is used to access the Golem Network, a decentralised platform for sharing computing power. It is also the currency used in peer-to-peer transactions for renting idle digital resources, including spare computing power. Golem markets itself as a flexible, open-source network for the peer-to-peer sharing of digital resources.

GLM is a highly volatile cryptocurrency. It started trading in November 2016 at $0.015 and spiked to $0.726 in June 2017. The price reached its all-time high of $1.09 in January 2018, joining the broader cryptocurrency market rally, before retreating to $0.194 in April 2018 as the market crashed.

The price of GLM spiked again to $0.911 in May 2018 but fell back to around $0.10 until the end of 2020. As the markets rallied in early 2021, GLM spiked to $0.69 at the end of March, only to drop back to $0.167 on 22 June as the markets collapsed. The price peaked again at $0.934 on 28 November 2021, but it was unable to hold on to the gains and ended 2021 at $0.456.

In January 2022, GLM traded between $0.40 and $0.50. A sudden explosion of trading drove it up to $0.6243 on 26 February 2022, but it subsequently went down, with the trend exacerbated by the depegging of the UST stablecoin and the collapse of the associated LUNA cryptocurrency. On 12 May, it sank to a low of $0.164.

Since then, there has been a slow and halting recovery. As of 12 September 2022, GLM was worth about $0.417, with a market cap of around $415.6 million, making it the 94th largest cryptocurrency by that metric.

The Golem Network Token's value trend is the prevailing direction of the price over a defined period. Golem Network volatility indicators enable investors to predict price movements based on how different True Range indicators change over time. High ATR values indicate high volatility, and low values indicate low volatility.

Cryptocurrency ratings for the Golem Network Token are calculated daily. As of 1 June 2024, the token was trading at 0.51, down 1.92% since the beginning of the trading day. The Golem Network has a 59% chance of experiencing financial distress in the next two years of operation and did not perform well during the last 90 trading days.

Advantages and disadvantages of Golem

Golem (GLM) is a peer-to-peer digital currency and open-source, decentralised platform that facilitates the sharing of digital resources, including idle computing power. Golem markets itself as a flexible network for peer-to-peer sharing of digital resources, including rendering graphics, scientific research, and machine learning. Golem was founded in 2016 and was one of the first blockchain projects to raise money from crowdfunding.

Advantages of Golem

• Golem is based on a decentralised network that promotes the sharing of digital resources, allowing users to access additional resources as needed and fostering a community where everyone can contribute and benefit.
• Golem's decentralised platform democratises access to digital capabilities and computing resources, making it more accessible and cost-effective for users.
• Golem's peer-to-peer network allows for the efficient utilisation of idle computing power, making it a powerful tool for undertaking complex computing tasks.
• Golem's payment system, built on Ethereum's layer-2, enables fast, cheap micropayments and eliminates gas fees, onboarding costs, and network congestion issues.
• Golem's ERC-20 token format provides compatibility with the Ethereum layer-2 transaction framework, allowing for seamless transactions and a wider reach.
• Golem's decentralised physical infrastructure networks (DePIN) can accelerate and power projects in diverse fields, including scientific research and the cinema industry's need for rendering effects.
• Golem's supercomputer network technology helps solve the problem of expensive calculations, making it a more affordable option for users.
• Golem's P2P system offers cheap, secure, and fast transaction abilities, applicable for a wide range of purposes.

Disadvantages of Golem

• Golem, as a cryptocurrency, is subject to market volatility and the risks associated with investing in digital assets, such as tax regulations, exchange rate volatility, and infrastructure vulnerabilities.
• Golem's beta software version may have security vulnerabilities, and users are advised to inform the development team of any security problems encountered.
• Golem has relatively low interest from big companies, which prefer more conservative methods of treatment.
• Golem's price history has been volatile, with spikes and retreats, and it is difficult to predict future price movements with accuracy.
• Golem's correlation with its parent currency, Ethereum, means that when ETH's capitalization reduces, Golem's tokens will also decrease in value, impacting investors and traders.

Golem's use case

Golems Use Case

Golem is a peer-to-peer network that enables users to exchange unused computing power and hardware capabilities. It is a decentralised marketplace for IT resources, essentially providing a public and user-controlled cloud computing system. Golem is built on Ethereum's Layer 2, which requires ERC-20 tokens, and it uses the GLM token as its native currency.

The Golem Network promotes a global community of creators who can leverage the platform's computing power to develop innovative software solutions. The open-source technology is adaptable, customisable, and encourages innovation. The network's settlement layer, built on Ethereum's Layer 2, enables more affordable transactions.

Golem's peer-to-peer network allows users to engage on equal footing, trading computational power and dividing complex tasks into manageable subtasks. It incorporates an Ethereum-based transaction system, facilitating direct payments among requestors, providers, and software developers.

The Golem (GLM) token is central to transactions within the platform. Requestors use GLM to pay for computing power, and providers are compensated in the same token. With a maximum supply of one billion GLM tokens currently in circulation, Golem has a market capitalisation of around $415.6 million as of 2022.

How to buy and store GLM

GLM is the Golem token, a utility token and currency used to access the Golem Network. Golem is an open-source and decentralised platform that allows users to share each other's computing power.

Step 1: Buy Bitcoin (BTC) or Ethereum (ETH)

You will first need to buy your first shares of Bitcoin or Ethereum. To do this, you will need to create an account on a site such as Coinbase, where you will be asked for some basic information. You will also need to verify your identity and email address.

Step 2: Choose a Cryptocurrency Exchange

After you have bought your Bitcoin or Ethereum, you will need to choose a cryptocurrency exchange to make your deals. You will then need to transfer your BTC or ETH from your Coinbase wallet to the exchange. There are many options, including Gate.io, Kucoin, Bitget, Coinbase Exchange and Bitunix.

Step 3: Buy Golem (GLM)

Find a crypto exchange that supports the GOLEM currency and exchange your Ethereum or Bitcoin for GOLEM.

Step 4: Store Your GOLEM in a Secure Wallet

As your crypto assets expand, you will need to have a crypto wallet to keep your goods safe. You can install a wallet on your hardware, such as your desktop or laptop, or use an online wallet. There are also mobile wallet options, and paper wallet options, which are official documents that state the content of your wallet and the keys to gain access to it.

For securing your GOLEM (GLM), it is recommended to use a hardware wallet that supports many cryptocurrencies, such as Ledger or Trezor.

Golem's future trajectory

Secondly, Golem's native token, GLM, is built on the Ethereum blockchain and plays a crucial role in transactions within the platform. The maximum supply of one billion GLM tokens are currently in circulation, giving Golem a substantial market capitalisation. This market presence, along with Golem's ability to provide a flexible, scalable, and affordable peer-to-peer sharing network, could contribute to its future success. Golem also benefits from being one of the first networks to implement layer-2 payments, reducing transaction fees and finalisation times.

Thirdly, Golem has a dedicated and skilled team with a history of successful developments, including the launch of Brass Golem on Ethereum's mainnet in 2018. The team is focused on technological advancements and practical applications, which could enhance the network's functionality and user experience. Their ongoing projects, such as the development of Yagna 0.12 and the migration from GNT to GLM, demonstrate their commitment to improvement.

However, Golem's future trajectory also faces potential challenges. The price volatility of the Golem Coin has erased previous gains, and the upside potential of the GLM coin may be restricted until real-world use cases validate its solution against top-tier cloud service providers. Additionally, crypto projects can fail due to various reasons, including regulatory interventions, lack of media attention, successful competitors, or a lack of marketing and community support.

In conclusion, Golem's future trajectory depends on several factors, including its innovative technology, the utility of its native token, and the dedication of its development team. While there are positive indicators for its long-term growth, the volatile nature of the cryptocurrency market and potential challenges must be considered when evaluating Golem's prospects.

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