Golem (GNT) Leads Alts with 13% Gains; One of Most Active Ethereum Projects

Golem (GNT) led the altcoins charts on Tuesday after recording 13% growth over the day. The surge once again originates from Korean exchange Upbit – a trend we’ve seen often recently among other coins.

Regardless of what’s going on in Korea, Golem has reason to gloat this week after two independent research firms listed it among the most actively developed projects on Github. Among the top twenty projects, 17 of them are based on Ethereum – good news for the King of the dApps, and a reminder of where most blockchain building is taking place for the time being.

Golem Leads Price Pump – GNT/USD

From the daily low of $0.093282, the value of GNT climbed to $0.105963 by Tuesday morning – 13.5% growth. Despite a pullback to the $0.102 range, GNT was still the largest gainer among the top hundred coins.

Golem charts

Of Golem’s $7.5 million trade volume, the largest concentration came from the Korean Upbit exchange. GNT/KRW (Korean won) was the most traded pair, with GNT/BTC lagging a long way behind.

This is a continuation of a trend which has seen numerous altcoins get picked up by Korean traders. Vertcoin, Ardor, and WAX all went on surges which were instigated on Upbit this past week.

Golem Busy on Github

According to data from blockchain analysts Santiment, Golem is the 8th most actively developed blockchain project when measured by developer activity. Santiment measures only ERC-20 tokens on this occasion (those built on Ethereum), and takes data from the past 30 days.

An excerpt from Santiment’s analysis cites a recently announced partnership from the Golem team, quoting:

Golem and Hoard just announced their partnership! The first use case that will be developed by Hoard — in cooperation with the Golem Unlimited team — is a code compiler built on Golem Unlimited, which is designed to unburden developers from typical distributed computing hassles: provisioning nodes, work distribution, load balancing, data transfer…”

Golem’s updates tend to be more tech/developer focused than most. That’s a reflection of the project itself, which is aiming to become a ‘computer of computers’, rather than a standard cryptocurrency or dApp platform.

Also mentioned is the progress being made on Graphene – a technology being developed by Golem which has garnered interest from Intel in the past. Read more in this rundown.

State of the dApps

Another blockchain activity ranking site, State of the dApps, ranks Golem as 18th among the top 20 most actively developed projects. Measuring coins and tokens from all platforms, 17 of the top 20 most active projects are being built on Ethereum.

Of the other 3, one is built on EOS, another on Tendermint, and one is the Aelf (ELF) project. According to State of the dApps, Golem racked up 1,372 commits on Github in the past month. That’s notable work, yet still some way off the number one ranked project, Status (SNT), which recorded 7,133 commits in the same month.

Disclaimer: The author owns Bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock. Chart via CoinMarketCap.

Author:
Greg Thomson is a freelance writer who contributes to leading cryptocurrency and blockchain publications like CCN, Hacked, and others.