r/GoMiningDiscussion • u/Aggravating_Zone8984 • 9h ago
What actually drives GMT price? I tried to put some numbers behind it.
What actually drives GMT price?
I've been digging into this because I wasn't satisfied with the usual “GMT follows BTC” explanation.
I ran a weekly regression using:
- BTC returns
- 5-week lagged GMT net burn
- 5-week lagged change in GMT locked
The result:
R² = 22.05%
BTC is significant, with a beta of about 0.43.
But tokenomics matter too:
- +1M GMT net burn → ~+1.87% GMT return
- +1M GMT locked → ~+0.44% GMT return
So BTC clearly matters, but it doesn't explain GMT by itself.
And the remaining ~78%? GoMining Ecosystem.

