Summary
- Gitcoin (GTC) rallied sharply on news that Upbit would add trading support for the token in its KRW and Tether (USDT) markets.
- GTC surged more than 100% intraday, topped $0.38, and later traded around $0.371.
- GTC, already available on Upbit's Bitcoin (BTC) market, will now also trade in the exchange's KRW and USDT markets.
Gitcoin (GTC) surged in short-term trading after Upbit announced trading support for the token in its KRW and Tether (USDT) markets.
GTC jumped more than 100% intraday on October 12, topping $0.38, crypto media outlet Odaily reported. It later pared some of those gains and traded at about $0.371.
Upbit had earlier announced it would add GTC to its KRW and USDT markets at 7 p.m. on October 12. Trading was scheduled to begin at 7:30 p.m. the same day.
GTC had already been trading on Upbit's Bitcoin (BTC) market. The latest move expands the token's availability to the exchange's KRW and USDT markets as well.
Gitcoin is a decentralized autonomous organization, or DAO, project that supports funding for digital public goods and open-source projects. GTC is used across governance functions including grant allocation, dispute resolution and project treasury management.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.