Golem (GNT) is up by over 15% and the momentum is increasing. This pump comes after it was listed on Binance, one of the largest cryptocurrency exchanges in the world. Naturally, this listing means that trading volumes will increase, which has a serious bearing on the price. It also sends the message that Golem is a legitimate project, and with that, new investors are likely to add Golem to their crypto portfolio. That’s great for its long-term value growth.
However, there is more to the rise of GNT than just the listing on Binance. For instance, Golem happens to solve an existing problem. You may have noticed that there are more than 1000 crypto projects in the market right now. Unfortunately, a good chunk of them don’t solve any real problems. They are trying hard to find/create problems that can be solved using blockchain technology. Golem like a few others, is a solution to a serious problem.
One of Golem (GNT) biggest possible use cases is in the movie industry. For instance, there are animation and sci-fi movies that Pixar has spent millions of CPU power to render, and get a quality product to the audience. That’s a major opportunity for Golem because it makes use a decentralized computer power.
That’s way cheaper than what such movie makers would get from conventional rendering companies, or even doing it in-house. Given that the movie industry is a multi-billion dollar industry, it’s not hard to see that there is a serious room for Golem to take a good chunk of the revenues that this industry generates. Golem also has a strong use case in scientific research. There are many scientists out there who would like to run their simulations on supercomputers, but just can’t afford them. Golem offers a perfect opportunity for them to test out their hypothesis on a decentralized super computer, and at a fraction of the cost that it would takes when done using conventional supercomputers.
Another fundamental strength to GNT is the fact that it has a massive room to grow. That’s because it practically allows anyone with some extra computer power to share it, and make some money off it. There are so many people out there who have excess hard drive space that they aren’t using. As more of them sign up to the Golem project, the size and capacity of GNT will continue to grow. This will draw in more users looking to run complex computer programs to Golem, thus adding to its use case.
With such a strong use case, scaling potential and now the Binance listing, it’s not hard to see why Golem is pumping. All it will take is for more people to learn about Golem and it will be headed to the moon. I recently came across a post, where someone was arguing that Golem needs a documentary on its use case in rendering animations. If such a documentary is made and it goes viral, Golem will instantly take over not just the movie industry, but also the video game industry, and that will be a game changer for the Golem project.
There is no doubt that Golem (GNT) is headed to $1 soon, and might close the year at $2 and above! I am HODLing this!