$ 0.4856 USD
$ 0.4856 USD
$ 198.099 million USD
$ 198.099m USD
$ 12.02 million USD
$ 12.02m USD
$ 85.888 million USD
$ 85.888m USD
413.507 million GMT
Issue Time
2021-01-01
Platform pertained to
--
Current coin price
$0.4856USD
Market Cap
$198.099mUSD
Volume of Transaction
24h
$12.02mUSD
Circulating supply
413.507mGMT
Volume of Transaction
7d
$85.888mUSD
Change
24h
0.00%
Number of Markets
76
Current Rate0
0.00USD
3H
0.00%
1D
0.00%
1W
0.00%
1M
+18.22%
1Y
+112%
All
+128.4%
Aspect | Information |
---|---|
Short Name | GMT |
Full Name | GoMining Token |
Founded Year | 2021 |
Main Founders | Mark Zalan |
Support Exchanges | MXC, Gate.io, LBank, Uniswap v3 (Ethereum), and HitBTC |
Storage Wallet | Ethereum Network Wallet (as an ERC-20 standard token) |
The GoMining Token, commonly referred to as GMT, is a type of cryptocurrency designed specifically to solve the problem of traditional Bitcoin mining energy consumption. Launched by a Singapore-based cloud mining platform, GoMining, in 2021, this digital currency is directly tied to the Bitcoin network thereby providing an indirect way of mining Bitcoin while reducing the environmental impact. GMT can be traded, bought or sold on various crypto exchanges and its value is directly proportional to the total computing power of GoMining's leased equipment. The more GMT tokens that are in circulation, the greater the computational power of the mining equipment.
In terms of function, each GMT token is backed by a certain amount of terahash per second (TH/s) of Bitcoin mining power. This approach provides a transparent and traceable measure of backing for GMT. Not being a standalone blockchain, but functioning within the Ethereum network as an ERC-20 standard token, GMT promotes interconnectedness within the existing blockchain ecosystem.
Pros | Cons |
---|---|
Reduced energy consumption | Risk and volatility |
Tied to Bitcoin network | Dependent on GoMining's computing power |
Backed by Bitcoin mining power (TH/s) | Not a standalone blockchain |
Interconnectedness within blockchain ecosystem | Reliance on Ethereum network for functionality |
Traded on various crypto exchanges | Exchange support may vary |
Over the coming decades, GMT's price is expected to experience fluctuations. By 2030, the trading range is projected to be between $0.2069 and $0.4903. In 2040, our forecast suggests GMT could reach a peak price of $0.6869,with a potential minimum around $0.3844.Looking ahead to 2050, technical analysis indicates that GMT's price could range from $0.5571 to $0.9405,with an estimated average trading price of about $0.5825.
The GoMining Token (GMT) was designed with the purpose of addressing energy usage concerns associated with traditional Bitcoin mining. This problem-solving aspect of GMT can be seen as its key innovation, as many cryptocurrencies do not have this feature aimed specifically at energy efficiency.
GMT differs from most cryptocurrencies in that each token is directly backed by a certain amount of terahash per second (TH/s) of Bitcoin mining power. This gives the cryptocurrency a clear and tangible measure of value, something that is not common among many digital currencies.
The GoMining Token (GMT) operates primarily on the Ethereum network as an ERC-20 standard token. Each GMT token is directly backed by a specific amount of terahash per second (TH/s) of Bitcoin mining power, which establishes a clear and tangible measure of the token's value.
The working mode of GMT involves being tied directly to the Bitcoin network. This means that instead of being mined independently like traditional cryptocurrencies, the tokens serve as indicators of Bitcoin mining activity. The tokens are issued in proportion to the computational power of GoMining's leased equipment, which is dedicated to mining Bitcoin. Consequently, the more GMT tokens in circulation, the higher the computational power of the leased equipment for mining Bitcoin.
Additionally, as the tokens are tied to the Bitcoin's network, they indirectly yield the rewards from the Bitcoin mining process. The holders of GMT receive daily returns gotten from Bitcoin mining, which adds to the inherent value of the tokens themselves.
As an ERC-20 token, GMT is supported by the robust and mature Ethereum network, which ensures its functionality, security, and compatibility with various digital wallets and exchanges. However, the reliance on the Ethereum network means that any significant issues or disruptions within this platform could impact the functioning and tradeability of GMT.
The GoMining token (GMT) is a burgeoning cryptocurrency that has garnered attention in the digital asset market. For those interested in purchasing or trading GMT, several reputable exchanges offer this token. These platforms include MXC, Gate.io, LBank, Uniswap v3 (Ethereum), and HitBTC. Each exchange provides its unique trading pairs, features, and pricing structures, making it essential for investors to choose a platform that aligns with their trading preferences and objectives.
To store your GoMining token (GMT) securely, opt for a hardware wallet like Ledger or Trezor, which are both known for their top-tier security and support for GMT . These devices keep your private keys offline, significantly reducing the risk of hacking. Remember to save your recovery phrase in a secure location, as it's crucial for restoring access to your tokens if your hardware wallet is lost or damaged. Additionally, consider setting up 2-factor authentication on any associated online platforms for an extra layer of security . Always follow best practices for digital asset security to protect your investment.
The GoMining Token (GMT) is particularly suitable for individuals or organizations who have a keen interest in the cryptocurrency space, especially those who prioritize environmentally-friendly initiatives. Given that the main innovation of the GMT is its reduced energy consumption feature, investors with a focus on sustainability might find this particular crypto attractive.
Additionally, those who wish to derive indirect exposure to the Bitcoin market, without dealing directly with Bitcoin itself, may also see value in GMT. This is due to the fact that GMT's value is tied to Bitcoins mining power and its rewards, making it a potential avenue to gain exposure to Bitcoin mining returns.
Cryptos like Script Network (SCPT), Axie Infinity (AXS), and Stepn (GMT) have provided great earning platforms for users.
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