Technology has evolved at an unprecedented pace in the past couple of years. People at the start of the century would have barely imagined giving things we take for granted today. As a result, humankind is now more connected and better than ever. One such notable technological development is the growing prevalence of cryptocurrencies.
Since Bitcoin launched in 2009, the number of cryptos has been increasing at an unmatched pace. Most of the new cryptos are created with the intent to solve one or the other issue that people face. Most of these cryptos have also solved many such issues.
Speaking of solving issues with cryptos and blockchain technology Gitcoin (GTC) Token is another crypto we need to know about. Crypto has some unique characteristics that set it apart from other crypto projects. Consequently, many traders and investors are flocking to invest in the token and generate a return.
But does that mean even you should start investing in the Gitcoin (GTC) Token? Continue reading to find your answer.
Gitcoin (GTC) Token: At a Glance
| Project Name | Gitcoin |
| Crypto Symbol | GTC |
| GTC Market Cap | $30,815,707 |
| Circulating Supply | 14,198,201.73 GTC Tokens |
| Total Supply | 100,000,000 GTC Tokens |
| Current Price (As of August 1st week) | $2.17 |
| All-time High Rate | $48.89 |
Gitcoin (GTC) Token: Overview
The Gitcoin (GTC) Token is the governance token of the Gitcoin decentralized autonomous organization (DAO). Based on the Ethereum blockchain, the token came into being in May 2021. However, the Gitcoin network was conceptualized in 2017 under the leadership of the chief executive officer Kevin Owocki.
The primary function of the Gitcoin platform is to fund developers creating new applications for Web 3.0 infrastructure. In addition, the ecosystem provides its users with an extensive range of products to help them better leverage the features of the crypto market. Some of the best-known of its products include hackathons, bounties, kudos, grant quests, and more.
The Gitcoin network has generated about $62.1 million in funds for more than 2,520 projects. As of now, the platform supports more than 312,000 active developers creating new projects on the platform and earning revenue.
Another unique characteristic of Gitcoin is it leverages a distinct technique for fundraising. This fundraising technique is widely known as quadratic funding (QF), outlined in the whitepaper of Gitcoin.
The co-writer of the whitepaper, Vitalik Buterin, states: A sponsor with capital wishes to stimulate and support the creation of public goods but is ill-informed about the appropriate goods to create. Thus, such a sponsor may want to delegate this allocation to a decentralized market process.
Even though the quadratic funding (QF) model appears complex, it is still highly effective. The basic principle behind this model is to facilitate the allocation of sponsor funds democratically in a manner chosen by the public. All these characteristics make Gitcoin one of the most unique crypto platforms currently available in the market.
With your heads wrapped around the nuances of the Gitcoin platform, it is time to learn more about the native currency of the platform. As with every other crypto platform, even Gitcoin has its native currency, which users can use for several purposes. Thus, understanding the fundamental value of Gitcoin (GTC) Tokens is imperative to determine if the coin is worth your investment.
But before diving into the fundamental value of the Gitcoin (GTC) Token, let’s first look at the token’s current stand in the market. As of August 2022, the Gitcoin (GTC) Token yields a value of $2.17 with a market cap of $30,815,707 and a 24-hour trading volume of $7,370,138.
Besides that, the circulating supply of Gitcoin (GTC) Tokens stands at 14,198,201.73 GTC from a total supply of 100,000,000 GTX tokens. The good news here is that the overall value of the token has increased by 6.90% in the last 24 hours. So, with that out of the way, let’s dive into the fundamental value of the Gitcoin (GTC) Token.
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Access to seamless trading
As with every other crypto token available in the market, Gitcoin (GTC) Token users can buy and sell their tokens. In addition, several centralized crypto exchanges support the Gitcoin (GTC) Token. Some of the best-known exchanges include Coinbase, Gate.io, Binance, KuCoin, and more.
Options to add liquidity
As you are already aware, two different types of crypto exchanges are available in the market. The first is centralized, and the second is decentralized crypto exchanges such as Uniswap. The Uniswap platform supports liquidity in the WETH/GTC trading pair.
Governance
The primary function of the Gitcoin (GTC) Token is governance rights on the platform. Holding Gitcoin (GTC) Tokens gives one the right or authority to take part in the decision-making process of the Gitcoin platform. This gives token holders the right to have their say heard when deciding the future course of action for the platform.
Now that you have a better understanding of the fundamental value of the Gitcoin (GTC) Token, it is time to get into a more granular evaluation. The following section will walk you through the prize history and overview of the Gitcoin (GTC) Token. So continue reading to enhance your understanding and make an informed investment decision.
GTC Token Price History & Overview
The Gitcoin (GTC) Token was launched in May 2021. Following this release, half of the Gitcoin (GTC) Token supply was set aside for the Gitcoin DAO treasury to facilitate governance and on-chain voting. Additionally, a vesting period of two years was put in place. Besides that, 15% of the Gitcoin (GTC) Tokens were retroactively airdropped to the existing users on the Gitcoin platform.
The remaining 35% was distributed among the team members, future employees, investors, as well as the strategic partners of the platform. By June 2021, the Gitcoin (GTC) Token reached a value of $7.7616. This was followed by a slight bearish run which reduced the token’s value to $7.2133 in the following month of July 2021.
But things changed for good with a notable bullish trend taking the token’s value to a whopping $11.8105 in August 2021. However, thanks to the volatile crypto market, the token’s value dropped to $6.9414 in September 2021. This was followed by a massive bullish run that took the Gitcoin (GTC) Token’s value to $17.1599 in November 2021.
By December 2021, the value of Gitcoin (GTC) Token began to tread on a bearish trend, bringing the token’s value to $12.7174. This bearish trend stuck on with Gitcoin (GTC) Token even in 2022, which certainly is one of the worst years for the crypto market. The token started the year with a value of $7.3411 in January 2022.
The prices fell again in February 2022, all thanks to Russia’s invasion of Ukraine, and the Gitcoin (GTC) Token was valued at $6.7675. But the prices picked up again in March 2022, with the token’s value reaching $7.2752. Unfortunately, this also marked the end of the bullish growth of Gitcoin (GTC) Token.
By April 2022, the value of Gitcoin (GTC) Token dropped to $4.5054, and this bearish trend will stick on for the months to come. Eventually, Gitcoin (GTC) Token fell to a value of $2.9404 in June 2022. However, the prices went up a bit the following month, with Gitcoin (GTC) Token reaching a value of $3.1707 in July 2022.
But the prices fell again, and as of August 2022, the Gitcoin (GTC) Token yields a value of $2.17 with a market cap of $30,815,707 and a 24-hour trading volume of $7,370,138. Besides that, the circulating supply of Gitcoin (GTC) Tokens stands at 14,198,201.73 GTC from a total supply of 100,000,000 GTX tokens. The good news here is that the overall value of the token has increased by 6.90% in the last 24 hours.
GTC Token Price Forecast
Now that you have a deeper insight into the past performance of the Gitcoin (GTC) Token, it is time to dive into future analysis. While it is never easy to predict the future price of a crypto token, one can always rely on analyses from experts. This will help you better understand if the Gitcoin (GTC) Token is worth your investment. So continue reading to understand the conclusions of technical and fundamental analyses of Gitcoin (GTC Token.
But before that, let’s look at the present state of Gitcoin (GTC) Token in the market. As of August 2022, the Gitcoin (GTC) Token yields a value of $2.17 with a market cap of $30,815,707 and a 24-hour trading volume of $7,370,138. Besides that, the circulating supply of Gitcoin (GTC) Tokens stands at 14,198,201.73 GTC from a total supply of 100,000,000 GTX tokens. The good news here is that the overall value of the token has increased by 6.90% in the last 24 hours.
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Technical Analysis
Gitcoin (GTC) Token is the native currency of the Gitcoin platform operating on the ERC-20 blockchain network. Unfortunately, 2022 has not been an excellent year for the crypto market, and the Gitcoin (GTC) Token has also suffered the same consequences. However, the good thing is that the token is showing some great signs of recovery, making it more likely the token’s value will increase in the future.
As of August 2022, the Gitcoin (GTC) Token yields a value of $2.17 with a market cap of $30,815,707 and a 24-hour trading volume of $7,370,138. Besides that, the circulating supply of Gitcoin (GTC) Tokens stands at 14,198,201.73 GTC from a total supply of 100,000,000 GTX tokens. The good news here is that the overall value of the token has increased by 6.90% in the last 24 hours.
Fundamental Analysis
No investor or trader should put their money into a crypto token without evaluating the conclusions of the token’s fundamental analysis. The results from this analysis help one better understand what’s in store for the future of the token. So continue reading to understand better the fundamentals of the Gitcoin (GTC) Token.
Given the characteristics of the Gitcoin platform, it is safe to say the token showcases robust fundamentals. For starters, it creates an excellent environment for developers to showcase their talent and further their development in the sphere of Web 3.0. But what’s even better is that Gitcoin rewards developers for their work, further encouraging them to strive for better solutions. Given these characteristics, it is safe to say that the future looks good for the Gitcoin (GTC) Token.
Note: Predicting or forecasting the future of crypto tokens is anything but easy. There are just too many variables at play that make it almost impossible to determine the future price of a token. Thus, the best one can do refer to analyses from experts and base their investment decisions on the conclusions from those analyses. However, that does not mean you should solely rely on these analyses and predictions. Instead, you must also do your research and due diligence to get a first-hand understanding of the market and crypto before investing.
Now that you have a nuanced and granular understanding of the technical and fundamental analyses of the Gitcoin (GTC) Token, it is time you get into more details. The following section will walk you through the Gitcoin (GTC) Token year-wise price predictions. So continue reading to get a better understanding of the future scenario of the Gitcoin (GTC) Token.
GTC Token Price Predictions
Gitcoin Token Price Prediction For 2022 | Potential ROI: -9%
2022 has been one of the most underperforming years for the crypto market. Unfortunately, the Gitcoin (GTC) Token has also suffered some significant damages as a consequence. The token started the year with a value of $7.3411 in January 2022. But this value kept decreasing each month, barring a couple of spikes here and there.
As of August 2022, the Gitcoin (GTC) Token yields a value of $2.17 with a market cap of $30,815,707 and a 24-hour trading volume of $7,370,138. Besides that, the circulating supply of Gitcoin (GTC) Tokens stands at 14,198,201.73 GTC from a total supply of 100,000,000 GTX tokens. The good news here is that the overall value of the token has increased by 6.90% in the last 24 hours.
For the remaining 2022, experts from TradingBeast are optimistic the token’s value will reach at least $1.82075 by the end of the year. Likewise, analysts from PricePrediction.net are majorly positive about the GTC token’s movement for 2022, suggesting the prices will reach $3.69 by the end of 2022. But experts from WalletInvestor are predicting a downfall will take the token’s value to a low of $0.297 by December 2022.
Gitcoin Token Price Prediction For 2023 | Potential ROI: 27%
2023 will likely be a much better year for the Gitcoin (GTC) Token, with experts from TradingBeast predicting the token will close the year with a value of $2.38059. Further, experts from PricePrediction.net are suggesting the token’s value will reach $5.26 by the end of 2023. But experts from WalletInvestor are still sticking with their pessimistic view suggesting the token will close in 2023 with a valuation of $0.475.
Gitcoin Token Price Prediction For 2024 | Potential ROI: 89%
Things are looking genuinely great for the Gitcoin (GTC) Token, even in 2024. Experts from TradingBeast are suggesting the Gitcoin (GTC) Token will reach a valuation of $3.6461 by the end of 2024. Even experts from Priceprediction.net are affirmative with their predictions that suggest Gitcoin (GTC) Token will reach a valuation of $7.72 by December 2024. Finally comes the experts from WalletInvestor who are sticking with their pessimistic view suggesting the token’s value will drop to $0.533 by December 2024.
Gitcoin Token Price Prediction For 2025 | Potential ROI: 144%
Experts from TradingBeast are sticking with optimism for Gitcoin (GTC) Token price predictions for 2025. Their predictions suggest the token’s price will reach $1.54947 by the end of 2025. Experts from PricePrediction.net are of the view that GTC’s price will exceed expectations and reach $10.47 during the same period. But experts from WalletInvestor are still pessimistic, suggesting the token’s price will drop to $0.533 by December 2025.
Gitcoin Token Price Prediction For 2030 | Potential ROI: 1078%
When it comes to the long-term price predictions for Gitcoin (GTC) Token, experts from TradingBeast are optimistic the token will reach a valuation of $8.32553 by the end of the decade. Experts from PricePrediction.net are even more optimistic with their predictions suggesting the token will reach a valuation of $65.87 by December 2030. But experts from WalletInvestor are adamant with their pessimistic view suggesting the prices will remain at around $0.84214 during the same period.
With so many experts predicting different prices, making sense of all that data can be challenging. But presenting these figures in a more comprehensible manner can help you get a better sense of the future of the Gitcoin (GTC) Token. So refer to this table below to get a better understanding.
| Method | 2022 | 2023 | 2024 | 2025 | 2030 |
|---|---|---|---|---|---|
| Expected Price | $3.69 | $5.26 | $7.72 | $10.47 | $65.87 |
| Potential ROI | -9% | 27% | 89% | 144% | 1078% |
| Type Of Run | Bullish | Bullish | Bullish | Bullish | Bullish |
| Singal | Buy | Buy | Buy | Buy | Sell |
Why Is Gitcoin Encouraging Web 3.0 Development?
Over the last couple of years, growing access to high-speed internet has transformed the world like never before. Today the entire world is connected, making it easier to facilitate better business and commerce besides all the other advantages of high-speed internet. Web 3.0 is something entirely new and better that helps enhance the existing internet infrastructure. Some of the reasons why Gitcoin is encouraging development in Web3.0 include:
- Open Source: The open source nature of Web 3.0 makes way for open economies. This allows developers to create resilient projects that deliver better and positive outcomes.
- Empowerment: The internet has always been a key element that drives better empowerment. With incentives from Gitcoin, people can reap better benefits and facilitate better empowerment for everyone.
- Collaboration: Web 3.0 facilitates unmatched collaboration. This allows people from different regions to collaborate and facilitate better development and growth.
Is It Worth Investing In The GTC Token?
Investing in crypto has apparent personal implications. Hence people must evaluate the repercussions of those implications before finalizing their investment decision. This will help them make better and more informed decisions. Besides that, one can also refer to experts’ price predictions and forecasts to make an informed decision.
However, that does not mean that you should solely rely on predictions and forecasts. The reason is these predictions are based on a number of variables that can change at any time. Thus, it is recommended you do your research and due diligence before finalizing the decision. This will help you better understand the market and base your decisions accordingly.
Final Verdict
Investing in crypto requires a lot of research and contemplation, which requires a lot of time and effort. But lucky for you, all the information about the Gitcoin (GTC) Token is available in this article. The exhaustive article walks you through not just the past but also the future and present of the Gitcoin (GTC) Token.
Thus, it is highly recommended you use this information to your advantage and make the right investment decision. Besides that, you must also do your research and due diligence to understand the market better and facilitate the right decision-making.
FAQs
Q1. Will Gitcoin (GTC) Token breach the $10 mark anytime soon?
Gitcoin (GTC) Token has been one of the most performant tokens available in the market. But that does not make it easy to predict the future of the token. However, given the predictions from experts, chances are high that Gitcoin (GTC) Token will exceed the $10 mark by 2025.
Q2. Will the value of Gitcoin (GTC) Token go up?
Gitcoin (GTC) Token has suffered great damage in the past couple of months, given all the adversities of 2022. But given the past performance of the token, it is very likely the token will bounce back. Also, most of the price prediction experts are on the optimistic side, so chances are high that the token’s value will increase.
Q3. Should I invest in Gitcoin (GTC) Token?
Investing in crypto will always be a risky endeavor for everyone. But given the past performance and future price predictions of the Gitcoin (GTC) Token, chances are high that the token’s value will bounce back. However, you must still do your research and due diligence to make the right decision.