CORE experiences a remarkable 300% surge amidst broader market liquidation

CORE, a layer 1 token, has experienced a remarkable surge of over 300% in just one week, even amidst a significant market downturn on Tuesday.

In fact, CORE has emerged as the top performer in the market this week, standing out as the only token to achieve triple-digit gains. This is particularly notable considering the overall market correction that has been taking place. Following the Easter break, Bitcoin ETFs saw a net outflow of $85.7 million, causing the cryptocurrency to dip by 5% today. This downward trend has also affected other altcoins.

However, CORE’s market performance remains unaffected, as evidenced by the token’s daily trading volume, which has surged by nearly 70% today. This impressive rally can be largely attributed to several upgrades that have been implemented on the Core network.

Just earlier today, Core made an exciting announcement about the launch of a new NFT marketplace on its network. Additionally, the network’s DAO revealed a new airdrop as part of its new defi reward mechanism, which was announced yesterday.

Last week, the Core Foundation introduced coreBTC, an asset on the network that is secured by Bitcoin and is compatible with the EVM. This asset serves as a bridge between Bitcoin and the defi ecosystem. CoreBTC functions as an ERC-20 token and maintains a 1:1 peg with Bitcoin, allowing holders to participate in defi applications without compromising the security features inherent to Bitcoin.

To ensure security, the token leverages a decentralized network consisting of various roles. It seamlessly integrates into the EVM ecosystem, providing a trustless mechanism for wrapping assets. The ultimate aim is to enhance the utility of Bitcoin and encourage broader participation in the defi space.

These various factors have played a significant role in driving CORE’s recent rally.

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