The value of Gitcoin (GTC), an Ethereum token, supports community governance of the Bitcoin platform.
It is designed to finance and manage open-source development via innovative methods like quadratic Funding.
By June 2021, Gitcoin had facilitated over $21 million in grants and bounties for open-source developers.
Over the past seven days, the price of Gitcoin has surged by 129.17%, but then saw a decline of 8.53% in the last 24 hours.
In the last hour alone, the price has increased by 1.32% and is currently at $11.423 per GTC.
Gitcoin stands at 38.34% below the all-time high of $28.71 with a circulating supply of 14,198,201.726 GTC. Gitcoin Price and Market Data.
Gitcoin’s value today is $17.70, with a 24-hour trading volume of $158,284,104.
If you are looking to buy or sell Gitcoin, Binance is currently the most active exchange.
It has an available stock of 14 Million GTC coins out of a total supply of 100 Million. The GTC price is down by 10.9%.
What’s Gitcoin?
Gitcoin is a platform that supports developers seeking meaningful, open-source work. Project owners can publish their initiatives, such as codebase, git repository, podcast, and other projects, on the platform.
Suppliers can browse a list of projects and choose what they would like to support. The platform has funded over $19.3 million to date for up to 160,000 developers.
With the introduction of GTC tokens, Gitcoin is transitioning to decentralized its platform to be managed by the community.
What’s the GTC Token?
GTC is the governance token on Gitcoin. The aim is to build a DAO of DAOs that will manage funding through quadratic financing for open web development.
Grants, governance, and dispute resolutions will be decentralized and overseen by the DAO.
What’s Quadratic Funding?
Quadratic Funding (QF) is the algorithmically optimal way to finance public goods in a democratic community as it prevents whales and central power entities from controlling the ecosystem. This gives power back to every community.
What’s Causing the Rise in GTC Price?
The latest news regarding Gitcoin is their recent announcement on Grants Round 12. Gitcoin features $1.5 million in matching funds for projects, introducing Thematic and Ecosystem Rounds in this round.
The Ecosystem Round is a new matching pool where a specific project in the space determines eligibility, but opportunities continue through Quadratic Funding.
Quadratic Funding is a more equitable and flexible form of coordinating funding for public goods that amplifies projects based on the number of people who contributed.
Furthermore, the main event this quarter starts on December 1st. Gitcoin is hosting the GR12 Hackathon alongside their grants round.
The GR12 Kick-Off event features prominent collaborators like Binance Smart Chain, AWS Samples, Ledger, and more.
The Hackathon will last for ten days, from December 1st to December 16th. The best part is, you don’t have to be a developer to participate. According to the official Hackathon announcement:
“We welcome anyone who brings dedication and experience to the Hackathon. Whether you want to help as a designer, project manager, offer product design advice, write documentation, or do something else. Often the projects that excel at hackathons are the ones that focus on something other than code.”
Unsurprisingly, as one of the most local projects in the market, we are witnessing a significant increase in Gitcoin’s price.
Gitcoin is making strides in developing its ecosystem. With a total valuation of just $342 million and a trading volume of $930 million, GTC is currently undervalued.
There are cryptocurrency projects with no tangible product or community boasting over $500 million market caps.
On the other hand, Gitcoin has numerous projects with many developers, indicating that GTC can continue its growth.
According to the current Gitcoin price prediction, the value of Gitcoin will decline by -10.05% and reach $ 17.98 by December 4, 2021.
Gitcoin recorded 15/30 (50%) green days with 35.01% price volatility over the last 30 days. Based on our Gitcoin forecast, it is currently an excellent time to purchase Gitcoin.
Gitcoin’s price is negatively correlated with the top 10 coins by market cap with a value of -0.640, excluding Tether (USDT), and negatively correlated with the top 100 coins by market cap excluding all stable coins with a value of -0.370.
Currencies that are positively correlated with Gitcoin indicate that the movement has a statistically significant weight to lead the other in the same direction. For currencies that are negatively correlated with Gitcoin, a move in one direction for Gitcoin would translate into action in the opposite direction for the negatively correlated coin.
Crypto price predictions can be difficult. Fortunately, many crypto experts have given their price predictions for Gitcoin crypto.
At the time of writing, the price of Gitcoin crypto stands at $15.83, according to Digital Coin Price.
Digital Coin Price predicts that the cost of Gitcoin could rise to $22 by the end of 2021 and potentially reach $48 by the end of 2025.
Digital Coin Price also predicts that the price of Gitcoin could reach $72 by the year 2028.
Pick A Crypto website indicates that the cost of Gitcoin would range between $50-100 by the end of 2021, which is a rather optimistic prediction.
Gov Capital has a highly optimistic prediction for Gitcoin, forecasting that the coin would reach up to $222 within a year and up to $1245 by the end of 5 years.
Gitcoin also suggests that in the coming years (2022-25), the price of Gitcoin will reach upwards of $250. However, price predictions should be taken with a grain of salt.
Where Can You Purchase Gitcoin?
Gitcoin is a cryptocurrency that has recently gained popularity. At the time of writing, Gitcoin can be bought and traded on various global crypto exchanges, according to Coin Market Cap Binance, Coinbase Exchange, LBank, MXC.COM, and Uniswap. Stay tuned to Fabyblog.com for more updates on cryptocurrencies and crypto price predictions.
