Cryptocurrency Core DAO Soars 350% in Nine Days, Secures Top 55 Spot Globally

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In a stunning turn of events, Core DAO (CORE), the cryptocurrency pioneered by the Core blockchain, has marked a significant milestone as its price soars 220% in the last week. Even more impressively, over a mere 24 hours, the digital currency posted a further surge of 63%, thus pocketing an astonishing total gain of 350% within a matter of nine days.

This sharp incline has thrust Core DAO into the limelight, earning it the coveted 55th spot among all cryptocurrencies in the world, according to its current market capitalization.

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At its essence, Core DAO is the operational hub of the Core blockchain—an EVM-compatible construct situated on Layer 1 that fortifies Bitcoin’s network through a supplementary Bitcoin block compensation. Distinguishing itself and forging a unique identity in the crypto universe, Core blockchain employs a distinctive Satoshi Plus consensus methodology. This innovative mechanism, a harmonious marriage of Bitcoin’s Proof-of-Work (PoW) and a Delegated Proof-of-Stake (DPoS), seeks to resolve the prevailing blockchain trilemma, thereby promising decentralization, scalability, and security.

Fueling its raison d’être, Core aspires to foster a vibrant and inclusive community in the sprawling Web 3 cosmos. It realizes this desire by offering an array of features—from a stake bridge and airdrops to a mining app, all designed to kindle participant interest and engagement. With its attention unwaveringly trained on constructing Web3 infrastructure and propelling public chains rooted in Bitcoin’s Proof-of-Work consensus, the project boasts an impressive record of over 10 million transactions, around 550,000 addresses, and a noteworthy presence on social media platforms.

As of the time of disclosure, Core’s market cap hovered around a robust $2.3 billion, with a daily trading volume approximating $447 million. Of a maximum supply of 2,100,000,000 CORE tokens, it is reported that 875,161,702 tokens are in current circulation.

Analysts attribute the astoundingly buoyant rally of CORE to a confluence of factors, including both the impending Bitcoin halving, scheduled in around 20 days, and other project-related announcements of import.

Notably, Core’s imminent launch of non-custodial Bitcoin staking has been flagged as a crucial development providing impetus for Core’s meteoric rise. Observers posit that this new feature may amplify the public chain’s total locked-in value (TVL) and subsequently fuel a rise in CORE’s pricing.

Further, the advent of coreBTC has emerged as a significant catalyst in this scenario. CoreBTC allows Bitcoin holders the opportunity to partake in the DeFi space on the Core Chain, all while maintaining and adhering to Bitcoin’s original principles of trustlessness and security. This pioneering measure lays a robust foundation for Bitcoin to emerge as a cornerstone asset in the DeFi landscape—backed by decentralized smart contracts and exacting overcollateralization requirements.

Additionally, Core has set in motion a 6-month incentive program, primarily targeting the BTCfi ecosystem. This program’s goal is to foster growth and adoption by doling out rewards that acknowledge significant contributions to the ecosystem, predominantly those contributions focused on asset bridging and the exploration of decentralized applications (dApps). With its scope enveloping assets from various blockchains—Ethereum, Arbitrum, Optimism, Avalanche, Polygon, and BNB among them—this initiative promises to amplify participation in Core’s headline dApps.

The trading price of CORE, as disclosed at the time of writing, stood at $2.69, highlighting the continued momentum of the digital currency.