Gitcoin
Gitcoin (GTC) Metrics
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Gitcoin (GTC)
What is Gitcoin?
Gitcoin (GTC) is a governance token associated with the Gitcoin platform, a blockchain project designed to support open-source software development through funding and collaboration. As a cryptocurrency, the Gitcoin token enables users to participate in governance decisions, allowing holders to vote on proposals that shape the future of the platform. Gitcoin runs on the Ethereum blockchain, facilitating a decentralized ecosystem where developers can connect with funders to sustain and enhance their projects. The core purpose of Gitcoin is to incentivize contributions to the open-source community, making it a vital tool for fostering innovation in decentralized applications.
When and how did Gitcoin start?
Gitcoin (GTC) was launched in 2021 as a platform aimed at funding open-source software development through a decentralized model. Created by Kevin Owocki and his team, Gitcoin facilitates collaboration between developers and funders, enabling projects to secure financial support via grants and bounties. The platform gained significant traction with its innovative quadratic funding model, which amplifies contributions to projects based on community engagement. Gitcoin was initially listed on various exchanges shortly after its launch, enhancing its visibility and accessibility within the crypto ecosystem.
What’s coming up for Gitcoin?
Gitcoin (GTC) is poised for exciting developments as it continues to enhance its platform for funding open-source projects. The upcoming roadmap includes the launch of new features aimed at improving user engagement and streamlining the grant funding process. Community goals emphasize expanding partnerships and integrating with additional blockchain ecosystems, which will broaden the use cases for GTC tokens. As Gitcoin evolves, it aims to foster a more robust decentralized funding landscape, empowering developers and contributors worldwide. Keep an eye on these advancements as they unfold in the near future.
What makes Gitcoin stand out?
Gitcoin (GTC) is unique compared to other cryptocurrencies due to its focus on funding open-source software development through a decentralized platform that connects developers with project sponsors. Its standout technology includes a quadratic funding mechanism, which amplifies contributions to projects based on community support, ensuring that funding is directed towards the most valued initiatives. This real-world use case not only incentivizes innovation but also fosters a collaborative ecosystem that empowers developers and enhances the sustainability of open-source projects.
What can you do with Gitcoin?
Gitcoin (GTC) is primarily used for governance within the Gitcoin ecosystem, allowing holders to vote on proposals and influence project funding. Additionally, it serves as a utility token for payments in various DeFi apps and can be utilized for staking to earn rewards. Gitcoin also supports NFTs, enhancing community engagement and incentivizing contributions to open-source projects.
Is Gitcoin still active or relevant?
Gitcoin (GTC) is currently active and still traded on various exchanges, reflecting ongoing interest in the project. Development updates continue to be released, showcasing the team's commitment to enhancing the platform. The active community presence further supports Gitcoin's status as a thriving project rather than an inactive or abandoned one.
Who is Gitcoin designed for?
Gitcoin (GTC) is built for developers and open-source contributors seeking to fund and support their projects through decentralized funding mechanisms. Its target audience includes a community of innovators, freelancers, and tech enthusiasts who engage in Web3 development and are interested in collaborative funding solutions. Gitcoin is ideal for those looking to participate in the growth of the decentralized ecosystem while rewarding creators and developers for their contributions.
How is Gitcoin secured?
Gitcoin (GTC) utilizes a unique governance model rather than a traditional consensus mechanism like Proof of Work or Proof of Stake. Its network security is maintained through community-driven decision-making, where validators play a crucial role in proposing and voting on funding initiatives, thereby ensuring blockchain protection and the integrity of the ecosystem. This decentralized approach fosters a secure environment for developers and funders alike.
Has Gitcoin faced any controversy or risks?
Gitcoin (GTC) has faced challenges related to volatility, with significant price fluctuations impacting investor confidence. Additionally, the platform has experienced security incidents, raising concerns about potential hacks that could compromise user funds. While Gitcoin aims to support open-source development, it must navigate the risks associated with the evolving regulatory landscape and potential legal issues.
Gitcoin (GTC) FAQ – Key Metrics & Market Insights
Where can I buy Gitcoin (GTC)?
Gitcoin (GTC) is widely available on centralized cryptocurrency exchanges. The most active platform is Binance Futures, where the GTC/USDT trading pair recorded a 24-hour volume of over $2,904,654.00. Other exchanges include Binance and Bithumb.
What’s the current daily trading volume of Gitcoin?
As of the last 24 hours, Gitcoin's trading volume stands at $2,186,993.00 , showing a 55.12% increase compared to the previous day. This suggests a short-term increase in trading activity.
What’s Gitcoin’s price range history?
All-Time High (ATH): $28.36
All-Time Low (ATL): $0.194591
Gitcoin is currently trading ~99.02% below its ATH
and has appreciated +43% from its ATL.
What’s Gitcoin’s current market capitalization?
Gitcoin’s market cap is approximately $26,837,047.00, ranking it #895 globally by market size. This figure is calculated based on its circulating supply of 96 384 728 GTC tokens.
How is Gitcoin performing compared to the broader crypto market?
Over the past 7 days, Gitcoin has declined by 1.80%, underperforming the overall crypto market which posted a 0.25% decline. This indicates a temporary lag in GTC's price action relative to the broader market momentum.
GTC Markets
| # | Exchange | Pair | Volume (24h) | Price | Volume (%) | Category | Fee Type | Updated |
|---|---|---|---|---|---|---|---|---|
| 1 |  C | $2,904,654.00 | $0.278120 | 132.810000% | Derivatives | Percentage | 1 minute ago | |
| 2 |  C | $782,558.00 | $0.278120 | 35.780000% | Spot | Percentage | 2 minutes ago | |
| 3 |  C | $170,639.00 | $0.282666 | 7.800000% | Spot | Percentage | 2 minutes ago | |
| 4 |  C | $157,281.00 | $0.279121 | 7.190000% | Spot | Percentage | 2 minutes ago | |
| 5 |  C | $63,317.97 | $0.277000 | 2.900000% | Spot | Percentage | 2 minutes ago |
Trends Market Overview
#105
81.21%
#150
-13.49%
#5
-0.31%
#9354
-25.26%
News All News
Gitcoin Basics
| Development status | Working product |
|---|---|
| Org. Structure | Semi-centralized |
| Consensus Mechanism | Not mineable |
| Algorithm | None |
| Started |
25 May 2021
over 4 years ago |
|---|
| Website | gitcoin.co |
|---|---|
| Wallet | Coins Mobile App |
| Asset type | Token |
|---|---|
| Contract Address |
| Explorers (2) | etherscan.io polygonscan.com |
|---|
| Tags |
|
|---|
| reddit.com |
Frequently Asked Questions
Similar Coins
Gitcoin Exchanges
Gitcoin Markets
Other coins worth interest - similar to Gitcoin
| # | Name | MarketCap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 4 |  | Tether USDT | $177,475,641,166.00 | $1.000312 | $117,455,648,783.00 | 177,420,277,588 |  - | |
| 7 |  | USDC USDC | $75,677,663,283.00 | $1.000004 | $19,333,863,716.00 | 75,677,333,290 |  +0.02% | |
| 8 |  | Lido Staked Ether STETH | $43,580,766,019.00 | $4,449.56 | $32,329,024.00 | 9,794,399 |  +1.21% | |
| 12 |  | Wrapped Liquid Staked Ether 2.0 WSTETH | $19,241,780,454.00 | $5,411.48 | $21,504,308.00 | 3,555,731 |  +1.31% | |
| 13 |  | WETH WETH | $16,764,984,480.00 | $4,451.79 | $756,665,841.00 | 3,765,896 |  +1.24% |
Gitcoin Liquidity
| GTC Price | $0.278437 2.39% |
|---|---|
| 24h Volume | $2,186,993.00 55.12% |
| Combined Orders | $2,398,721.00 13.70% |
|---|
What is Market depth?
Market depth is a metric, which is showing the real liquidity of the markets. Due to rampant wash-trading and fake activity - volume currently isn't the most reliable indicator in the crypto space.
What is it measuring?
It's measuring 1% or 10% section of the order book from the midpoint price (1%/10% of the buy orders, and 1%/10% of the sell orders).
Why it is important to use only 1% or 10%?
It's important, because measurement of the whole order book is going to give false results due to extreme values, which can make false illusion of liquidity for a given market.
What is showing Historical Market Depth?
Historical Market Depth is showing the history of liquidity from the markets for a given asset. It’s a measure of combined liquidity from all integrated markets on the coinpaprika’s market depth module.