Golem (GNT) saw its value jump by 17% amid the downturn of bloody Thursday. The surge came swiftly within a six hour window, and restored the 15% losses incurred by GNT earlier in the same day.
The upturn comes just as a demo for Golem Unlimited is released to the public – a new tool which allows nodes to form private, trusted groups within which to operate.
The Golem project aims to provide a decentralized computing power marketplace, and the new feature is expected to make it easier for institutions and data-centers to operate within private arenas – complete with the ability to set their own network values independent of the mainchain.
GNT/USD in Flux
The GNT token sunk with the rest of the market early on Thursday morning, sinking 15% from $0.170831 down to $0.144511. However the plunge didn’t last for very long, and the token price immediately rebounded back up to $0.169249, making up 17% growth within the space of six hours.
Daily volumes were boosted by 405% as GNT trades rose from $1.8 million to $9.1 million – the largest volume of trades since late September. Over 35% of that figure has come from GNT/KRW trades on Upbit and Bithumb. That’s only a little less than the 39% made up by GNT/BTC trades, suggesting GNT’s coupling with Bitcoin is less severe than other altcoins.
Golem Unlimited Demo
According to the official Golem Medium blog, an analysis of the project’s user base revealed a hesitance to incorporate Golem into their existing infrastructure. The blog post states:
“Unlimited is aimed to supplement Golem’s functionality with the wide range of features that trusted environments offer. The product introduces the possibility of joining nodes into trusted groups and run any calculations within these groups,