What is the issuance price and issuance volume of Gomining Coin?

Gomining Coin, a cryptocurrency designed for the mining industry, features transparency and efficiency for miners by leveraging the Ethereum blockchain.

Dec 11, 2024 at 02:15 pm

1. Overview of Gomining Coin

Gomining Coin (GMT) is a cryptocurrency designed specifically for the mining industry. It is built on the Ethereum blockchain and provides a range of features tailored to the needs of miners, including:

• Secure and transparent mining operations
• Reduced transaction fees and faster confirmation times
• Access to a global network of mining pools

GMT is issued by Gomining, a leading provider of mining solutions, and is used to facilitate transactions within the company's mining ecosystem.

2. Issuance Price and Issuance Volume of Gomining Coin

The issuance price of GMT was set at $0.10 during its initial coin offering (ICO) held in 2017. A total of 100 million GMT tokens were issued during the ICO, raising approximately $10 million.

3. Factors Influencing GMT Issuance Price

Several factors influenced the issuance price of GMT during the ICO:

• Market conditions at the time of the ICO, including the overall cryptocurrency market sentiment and the demand for mining-related cryptocurrencies
• The perceived value of GMT's underlying technology and the potential benefits it offered to miners
• The reputation and track record of Gomining as a provider of mining solutions

4. Issuance Volume and Token Distribution

The issuance volume of GMT was determined based on the following considerations:

• The company's estimated funding needs to develop and maintain its mining ecosystem
• The desired level of decentralization and distribution of GMT among miners and other stakeholders
• The potential impact of the token issuance on the long-term value of GMT

The tokens were distributed as follows:

• 40% to ICO participants
• 30% to the Gomining team and advisors for platform development and marketing
• 20% to strategic partners to support the growth of the mining ecosystem
• 10% reserved for future development and community initiatives

5. Post-ICO Price Performance of GMT

Following the ICO, the price of GMT experienced significant volatility, influenced by factors such as:

• Overall market trends and the performance of other cryptocurrencies
• Adoption and utilization of GMT within the mining industry
• News and announcements from Gomining and its partners
• Speculative trading and market sentiment

The price of GMT reached a peak of $0.30 in early 2018 but has since fluctuated and currently trades around $0.15.