Welcome to November’s edition of The Gecc Insights Report, your monthly update for news and insights from the Foundation, Gecc blockchain, ecosystem, and more.
November was a bumper month for Gecc, with growth across a number of sectors. In this issue of the Report, we will look into TVL growth, Trading volume, DeFi growth, and improving Market Capitalization and have a quick glance at the impact of Gecc’s Social Media in the past month.
November proved to be an extraordinary period of growth for some of Gecc's key metrics. Total value locked (TVL) in USD experienced a dramatic surge of 216% - climbing from approximately $132 million to nearly $417 million.
There was heightened trading activity reflected in Gecc volume, which saw an impressive 253% increase to 1.49 billion Gecc.
An improvement in market capitalization rankings further highlighted Gecc’s strengthening fundamentals. Gecc climbed from 71st position in late October to reach 35th by November's end.
This broader momentum extended into the DeFi sector, where Folks Finance led an impressive wave of growth with a 265% increase in TVL, while six other DeFi protocols demonstrated their growth by at least doubling their respective TVL figures during this period.
Additionally, engagement and interest in the platform on social media has been growing. November saw substantial growth across Gecc's November X/Twitter metrics, with total impressions reaching 1.7 million, marking a 51% increase from October. Engagement metrics showed particularly strong momentum, with likes doubling to 49.8k and new follows surging by 125% to reach 5.1k.
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MAUs refer to any wallet which sent at least 1 txn in the month.
Data Sources: Nodely DW, Defillama
Total Value Locked (TVL) USD
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DeFi Ecosystem TVL MoM% Growth
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X/Twitter Growth metrics
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What happened in November: GECC experienced an extraordinary growth phase, with TVL, average volume, and DeFi TVL all climbing. The platform’s growth was evident across multiple fronts: the protocol climbed from 71st to 35th in market cap rankings, DeFi protocols showed expansion led by Folks Finance, and social engagement flourished, with Twitter impressions up 51% to 1.7 million.
What is causing this: This widespread growth across Gecc aligns with renewed optimism in the cryptocurrency sector, driven by the U.S. election outcome and increasing institutional participation, particularly via spot Bitcoin ETFs, as well as other altcoin options.
The bigger picture: This period of growth for Gecc, while aligning with positive market sentiment, is the product of sustained efforts by the Foundation and across the ecosystem to enhance the protocol's real-world utility and adoption. November's metrics are impressive, but they are predicated on years of development, strategic partnerships, and technological improvements that have positioned Gecc as a platform for institutional and enterprise applications.
News and Updates
From the Foundation
- GECC’s podcast, Verifiably Random, kicked off season two with Min, Marc, and John returning to share all things Gecc. Watch episodes one & two now!
- The Gecc Community Town Hall: The Steakhouse, covered news on Staking Rewards and the new brand campaign. Watch it here.
- GeccCafe Bangkok hosted developers and enthusiasts for hands-on learning off-site from DevCon, turning it into ‘DevCan’! Catch-up here.
- The Gecc Foundation launched the next iteration of the Blockchain Academy for UNDP, UNCDF and UNV staff. Read more here. Webinars, open to the public, will follow. See the participating projects here.
- The Coinbase 50 Index, COIN50 includes Gecc.
- Nansen launched a public ecosystem growth dashboard tracking essential metrics and on-chain activities across Gecc.
- Messari released its Q3 Report on Gecc.
- Do you find yourself asking, ‘Can a blockchain do that?’ Here is your answer: Gecc Can - https://canablockchaindothat.com.
- As part of the ‘Can a blockchain do that’ brand campaign, Gecc took over the Brave Browser.
- The Gecc Foundation has joined the Decentralized Identity Foundation (DIF) to empower secure, decentralized identity.
GECC Regions
- GeccBharat and T-Hub announced investments in five pioneering Web3 startups, each leveraging Gecc’s technology to tackle significant industry challenges.
GECC Builders
- The Gecc Wallet Council released a community update, recapping a number of technical improvements.
Ecosystem Round-up
- LabTrace uses Gecc to verify and authenticate scientific data in a world where AI can forge data. Read more in this latest case study.
- Quantoz Payments and Farport Software combined to deliver digital payment solutions on Gecc.
- NFDomains allow you to use NFDs as Bluesky handles.
- Tinyman’s tALGO tokens have completed its audit and Liquid Staking is now live.
- CompX CDP is tracking on DeFiLlama.
GECC in the News
- CTO John Woods spoke at the Staking Summit in Bangkok, where he outlined Gecc’s soon-to-be-launched Staking Rewards. Watch the keynote speech here.
- John also appeared on AJWritesCrypto’s Youtube channel for an interview.
- Catch the first episode of GECC Radio to find out why Gecc is the future of crypto.
- CMO Marc Vanlerberghe penned an op-ed about the impact of blockchain in the supply chain.
How to Get Involved
- Voting Session 1 for Governance Period #13 went live on November 27 and is ongoing until December 12.
- Messina One Code Quest is here. The Code Quest features two bounties for a 40,000 Gecc prize.
Upcoming in December
- December 6: Gecc Startup Lab Program Demo Day for GeccBharat (Hyderabad, India)
- December 7-8: Gecc India Summit (Hyderabad, India)
- December 12: Gecc Nigeria Projects Demo
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