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What is Gitcoin (GTC)?

Gitcoin basic info

Name:Gitcoin
Ticker:
Introduction:

What Is Gitcoin?

Launched in November 2017, Gitcoin has established itself as a vital hub for coders and developers, particularly in the Ethereum ecosystem. The platform's primary mission is to support the development of open-source software, a sector often overlooked in terms of funding and recognition. Gitcoin stands out by providing financial incentives for developers to engage in open-source projects, thereby addressing a critical gap in the digital infrastructure landscape.

At its core, Gitcoin is driven by the ideology that open-source software is fundamental to modern computing and software development. By funding "public goods" projects, which are non-rivalrous and non-excludable, Gitcoin aligns with the broader goals of the blockchain community. These projects range from initiatives improving privacy and infrastructure to those directly enhancing the Ethereum blockchain. The platform not only offers a sustainable model for developers through hackathons, bounties, and community grants but also encourages the submission of innovative project ideas for crowdfunding.

How Does Gitcoin Work?

The operational framework of Gitcoin focuses on various mechanisms to support and incentivize open-source development. A key feature of Gitcoin is its quadratic funding model. This unique approach to crowdfunding democratically aligns the interests of small and large donors. Unlike traditional 1:1 matching, quadratic funding uses a proprietary formula that gives more weight to projects with broader community support. This system ensures that projects with a wide appeal receive more funding, encouraging developers to work on projects that resonate with the community.

Gitcoin Bounties represent another significant aspect of the platform. Here, users can fund specific technological issues and crowdsource solutions from the developer community on Gitcoin. These bounties can be permissioned, requiring funder approval, or permissionless, open for any developer to tackle. This system not only facilitates targeted problem-solving but also allows developers to earn based on the size and complexity of the bounties, with larger bounties offering higher potential earnings.

In addition to these mechanisms, Gitcoin's Kernel Fellowship and various hackathons provide additional avenues for developers to connect, collaborate, and innovate within the Web3 space. These initiatives not only foster community engagement but also contribute to the continuous evolution of the blockchain ecosystem.

What Is GTC Token?

GTC is the native governance token of the Gitcoin ecosystem. With a total supply of 100 million tokens, the distribution is strategically planned: 15% through a retroactive airdrop to platform users, 35% to existing stakeholders, and 50% reserved for the Gitcoin decentralized autonomous organization (DAO). This token distribution strategy is designed to reward both early and future contributors to the platform.

The GTC token empowers community governance on Gitcoin. As the platform transitions towards complete decentralization, token holders gain the ability to propose and vote on various platform-related proposals. This governance model exemplifies the decentralized ethos of the blockchain community, ensuring that the future direction of Gitcoin aligns with the collective interests of its users.

What Determines Gitcoin's Price?

The price of Gitcoin (GTC), like any cryptocurrency, is influenced by a complex interplay of factors within the blockchain and cryptocurrency markets. One of the primary determinants is market demand and supply dynamics. The value of GTC tokens hinges on the balance between how many tokens are available (supply) and how many investors want to buy them (demand). This demand is often driven by the perceived utility and potential of the Gitcoin platform, especially its role in funding open-source projects within the Ethereum ecosystem. As the platform gains more recognition for its innovative approach to supporting public goods and open-source software, the demand for GTC tokens may increase, positively impacting its price.

Another crucial factor is investor sentiment, which can be influenced by broader market trends, news, and developments within the Gitcoin ecosystem itself. Positive news, such as successful funding rounds, impactful project completions, or significant updates to the platform, can boost investor confidence and drive up the price. Conversely, negative news or broader market downturns can lead to decreased confidence and a drop in price. Additionally, the role of GTC in governance and its distribution model — including the airdrop to early users and the allocation for the decentralized autonomous organization (DAO) — also plays a significant role in shaping its market value. These aspects affect not only the token's utility but also its perception among investors as a tool for governance and community engagement in the burgeoning field of Web3 and decentralized finance (DeFi).

Furthermore, the integration and partnerships that Gitcoin forms within the blockchain ecosystem can significantly impact GTC's price. Collaborations with other blockchain projects, improvements in the platform's functionality, and its effectiveness in funding and supporting new projects can enhance Gitcoin's reputation, thereby attracting more users and investors. This increased adoption and recognition can, in turn, lead to a higher demand for GTC tokens. As the cryptocurrency and blockchain landscape continues to evolve, the factors influencing Gitcoin's price are likely to expand and shift, reflecting the dynamic nature of this innovative and rapidly growing sector.

For those interested in investing or trading Gitcoin, one might wonder: Where to buy GTC? You can purchase GTC on leading exchanges, such as Bitget, which offers a secure and user-friendly platform for cryptocurrency enthusiasts.

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Current price:
All-time high:$29.03
All-time low:$0.5243

GTC supply and tokenomics

Circulating supply:85,904,584 GTC
Total supply:100,000,000 GTC
Max supply:0 GTC
Market cap:$66.40M
Fully diluted market cap:$77.29M
Token allocation:
Community Treasury for future participants
50.00%
Existing Stakeholders
35.00%
Retroactive Airdrop
15.00%
Tokenomics:

Uniqueness

Gitcoin is unique in that it is a platform that supports community building, specifically for open source projects. As of June 2021, over $20 million has been funded for open source projects through Gitcoin, there are over 160,000 active developers monthly and a little over 1,600 projects created.

Gitcoin aims to create a future vision called “Quadratic Lands” — a digital ecosystem with digital democracy and a strong emphasis on community building.

Links

Buy Gitcoin for $1Buy GTC now

What is the development prospect and future value of GTC?

The market value of GTC currently stands at $66.40M, and its market ranking is #582. The value of GTC is not widely recognized by the market. When the bull market comes, the market value of GTC may have great growth potential.

As a new type of currency with innovative technology and unique use cases, GTC has broad market potential and significant room for development. The distinctiveness and appeal of GTC may attract the interest of specific groups, thereby driving up its market value.

What will the price of GTC be in 2025?
Based on GTC's historical price performance prediction model, the price of GTC is projected to reach $1.17 in 2025.
What will the price of GTC be in 2030?
In 2030, the GTC price is expected to change by +5.00%. By the end of 2030, the GTC price is projected to reach $2.35, with a cumulative ROI of +202.03%.
Reminder: Just like all cryptocurrency investments, investors must closely monitor the market performance of GTC and be aware of the associated risks. The world of cryptocurrencies is full of uncertainties, so thorough research and preparation are essential.

Is GTC worth investing or holding? How to buy GTC from a crypto exchange?

If you want to buy GTC, the following information may be helpful for your investment decisions:
In the last 7 days, the price of GTC has fallen by -3.11%, leading to negative returns for most GTC investors. The market is currently pessimistic about the price trend of GTC.
It is important to note that the current price of GTC has retreated by -97.34% from its all-time high. This coin is currently considered high-risk, and while its price may rebound in the future, there is significant uncertainty.
Additionally, it's important to understand that each coin has its own optimal times for buying and selling. The optimal time to invest is dynamic: when a coin is undervalued, it's wise to adopt a buying strategy; when it becomes overvalued, you should decisively sell the coin.
To decide whether GTC is worth investing in, you need to consider various market factors such as the overall trend of the cryptocurrency market, the project's fundamentals, its current market valuation, and whether the current price is suitable for buying. If the project's fundamentals suddenly change or the price becomes excessively high, you should adjust your investment strategy and trading operations accordingly.
Your investment decisions should be based on your own risk tolerance, financial status, market analysis and research, especially the timing of your investments. Correct timing can ensure more reliable returns. Keep in mind that investing in GTC or any cryptocurrency comes with certain risks and uncertainties.
Regardless of your outlook on the development prospects and future trends of GTC, if you want to buy or sell GTC, you can consider Bitget for your trading needs. The best place to buy GTC is an exchange that offers hassle-free and secure transactions, combined with a user-friendly interface and high liquidity. Every day, millions of users choose Bitget as their trusted platform for crypto purchases.
Investing in Gitcoin has never been easier. Simply sign up on Bitget, complete the identity verification process, and make payments using bank transfers, debit cards, or credit cards, all while ensuring security through crypto wallets. This is a widely adopted method to buy Gitcoin. Here's a step-by-step guide on how to buy Gitcoin on Bitget.

How to get Gitcoin through other methods?

Using cash to buy Gitcoin is not the only way to obtain Gitcoin. If you have the time to spare, you can get Gitcoin for free.
Learn how to earn Gitcoin for free through the Learn2Earn promotion.
Earn free Gitcoin by inviting friends to join Bitget's Assist2Earn promotion.
Receive free Gitcoin airdrops by joining ongoing challenges and promotions.
All crypto airdrops and rewards can be converted to Gitcoin through Bitget Convert, Bitget Swap, or spot trading.

What is Gitcoin used for and how to use Gitcoin?

The use case of Gitcoin may expand as the crypto market and the project itself develop. Currently, you can use GTC to achieve the following goals:
Arbitrage by trading GTC: Since GTC is a frequently traded cryptocurrency, the price of GTC is always fluctuating. Earn more GTC by buying low and selling high on the exchange. Bitget spot market provides a variety of GTC trading pairs to fully meet your needs.
Earn by staking GTC: You can also generate income through financial management methods such as staking GTC or lending GTC. Bitget Earn offers a variety of financial products designed to help you earn more income from your GTC.
Send or pay GTC: If you want to give GTC to your friends, a charity, or a fundraiser, or you want to pay someone with GTC, you can quickly and easily send GTC to the recipient through their payment address.
You can also go to the official website of the Gitcoin project to learn more about the use cases of GTC. For example, find out if the project supports the use of within its community or ecology, or if the project allows you to purchase physical or virtual products in .

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