Bitcoin-Powered Core DAO (CORE) Skyrockets By 220%: Unveiling the Momentum

Core DAO (CORE), the native cryptocurrency of the Core blockchain, has embarked on an impressive rally, soaring by 220% in the past week, marking a remarkable milestone in its market journey. Within the last 24 hours alone, CORE has surged by an additional 63%, amassing an extraordinary 350% gain over a mere nine days. This meteoric rise has propelled Core DAO to the 55th position among all cryptocurrencies by market capitalization.

Core DAO: Innovating with Satoshi Plus Consensus on the Core Blockchain

Core DAO operates on the Core blockchain, a Layer 1 platform compatible with the Ethereum Virtual Machine (EVM), extending support to the Bitcoin network by introducing a supplementary BTC block reward. The Core blockchain distinguishes itself with its innovative Satoshi Plus consensus mechanism, which amalgamates Bitcoin's Proof-of-Work (PoW) with a delegated Proof-of-Stake (DPoS) model. This consensus mechanism aims to tackle the blockchain trilemma, ensuring decentralization, scalability, and security.

Core DAO strives to foster a robust and inclusive community within the Web 3 ecosystem, offering diverse features such as a stake bridge, airdrops, and a mining application to facilitate engagement and participation. The project prioritizes the development of Web3 infrastructure and advocates for public chains built on Bitcoin's Proof-of-Work consensus, boasting impressive statistics including over 10 million transactions, 550,000 addresses, and a significant social media presence.

Core Token Metrics: Market Cap Hits $2.3 Billion with Robust Trading Volume

As of the latest data available, Core's market capitalization stands at approximately $2.3 billion, with a 24-hour trading volume nearing $447 million. The circulating supply of CORE tokens amounts to 875,161,702 out of a maximum supply of 2,100,000,000 CORE tokens.

Core's Surge Fueled by Bitcoin Halving Anticipation and Project Milestones

CORE's recent surge can be attributed to a synergy of factors, including the anticipation surrounding the impending Bitcoin halving scheduled in 20 days, coupled with substantial project announcements.

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Key developments fueling Core's ascent include the imminent launch of non-custodial Bitcoin staking, anticipated to bolster the total value locked (TVL) on the public chain and consequently drive up the price of CORE tokens. Additionally, the introduction of coreBTC has emerged as a significant catalyst, enabling Bitcoin holders to participate in the DeFi space on the Core Chain while preserving Bitcoin's core principles of trustlessness and security.

Furthermore, Core has initiated a 6-month incentive program targeting the BTCfi ecosystem, aiming to stimulate growth and adoption by incentivizing contributions to the ecosystem, particularly in asset bridging and decentralized application (dApp) exploration. This initiative encompasses assets from diverse blockchains, including Ethereum, Arbitrum, Optimism, Avalanche, Polygon, and BNB, thereby amplifying engagement with Core's flagship dApps.

At present, CORE is trading at $2.69, reflecting its meteoric ascent amidst the evolving landscape of the digital asset market.

CORE price, 4-hour chart | Source:COREUSD on TradingView.com