Golem moves $100 million worth of ETH to exchanges

Golem, a pioneer in Ethereum-based (CRYPTO:ETH) decentralised computing, has recently transferred over $100 million worth of Ethereum to major centralised exchanges like Binance and Coinbase.

This move has raised concerns within the crypto community, given ongoing market volatility and significant Bitcoin (CRYPTO:BTC) sell-offs.

Despite holding 126,034 ETH in its treasury, Golem's actions have drawn comparisons to past controversial moves by other blockchain projects.

While Golem claims the transfers are for solo staking purposes to support the Ethereum ecosystem, scepticism persists about potential selling pressures and their impact on ETH prices.

This development highlights the delicate balance between blockchain project operations and market stability in the cryptocurrency sector.