GNT, the token of the Golem decentralized computing network, became the 13th most valuable digital currency by market capitalization on March 20, 2017. Data from CoinMarketCap shows GNT’s market cap rising close to $50 million at the height of yesterday’s rally.
While there was no breaking news coming from Golem's 14-person development team, the price of GNT was pushed to an all-time high of $0.059 on Monday as Swiss-based digital currency exchange, ShapeShift, announced support for Golem’s token on Twitter.
On the Poloniex exchange, where a large portion of investors buy and sell Golem tokens, the GNT/BTC exchange rate hit a record high of 0.000059:
Golem’s token, along with majority of top alternative cryptocurrencies like Ethereum, have experienced tremendous growth since mid-March due to fears surrounding the Bitcoin scaling debacle, which could potentially split Bitcoin into two competing digital currencies.
Rising investor appetite for altcoins, coupled with ShapeShift’s decision to support GNT, has placed Golem’s token among other major altcoin projects like ZCash, MaidSafeCoin, Augur and NEM.
