## Core (CORE) Price Soars 30% in a Week## Core (CORE) Price Soars 30% in a Week The price of Core (CORE) has experienced a significant surge in recent days, gaining over 30% in the past week. This upward trend follows a period of decline that saw CORE drop below $1 in early July. ## Ecosystem Growth and Rising Active Addresses The recovery in CORE’s price is attributed to positive developments in the Core DAO ecosystem. A key driver has been the rise in unique active addresses on the blockchain network. As of July 21, 2024, the number of unique addresses has approached 20 million, a remarkable milestone given the project’s launch in January 2023. ## Core’s Unique Architecture Core is a Turing-complete, EVM-compatible blockchain that utilizes the Bitcoin hash rate and a combined consensus mechanism known as “Satoshi Plus.” This mechanism aims to merge the security of Bitcoin with the scalability and flexibility of proof-of-stake. ## Dorian: The BTCFi Money Market Earlier in July, Core DAO launched Dorian, a decentralized money market that focuses on network yield. Dorian provides users with a fast and secure borrowing and lending experience, leveraging Core’s infrastructure and liquidity. ## Historical Price Analysis In April 2024, CORE’s price surged by over 400%, reaching a peak of $6.47 in February 2023. However, it has since lost most of these gains, losing 75.61% in value. Despite these fluctuations, CORE’s price has increased by 359.56% since its lowest point in November 2023. ## Current Market Standing At the time of writing, CORE’s price has risen by 5.07% in the past 24 hours, reaching $1.56. This performance has placed it among the top performers in the cryptocurrency market. Its market cap is currently $1.41 billion, making it the 62nd largest coin by market cap. ## Total Value Locked (TVL) Core’s TVL has also seen an increase since its launch. According to DefilLama, the current TVL of CORE is $150.63 million, ranking it as the 34th largest chain in terms of total value locked.
The Core (CORE) price has seen a 30% increase over the past week and a 5% increase in the last 24 hours after dropping below $1 in early July. Following significant growth in the Core DAO ecosystem, particularly an increase in active unique onchain addresses, the price of CORE has recovered to $1.56 at the time of writing.
Unique addresses on Core almost 20 million
In an official statement on July 21, the official Core DAO Twitter handle posted that the unique addresses on the Bitcoin-powered, EVM-compatible blockchain network are approaching 20 million. This marks a notable milestone, despite the project’s launch on January 14, 2023, more than a year ago.
Core (CORE) is a Turing-complete and EVM-compatible layer-one blockchain. It claims to use the Bitcoin hash rate and the delegated proof-of-stake (DPoS) consensus mechanism to create a secure, scalable, decentralized blockchain. Core uses a unique consensus mechanism called “Satoshi Plus” to combine “the optimal properties” of the two.
Core DAO launched Dorian: The BTCFi Money Market earlier this month, with a focus on network yield. Dorian offers a decentralized, fast borrowing and lending experience using Core’s scalable, secure infrastructure and ever-growing liquidity.
Historical Analysis of CORE Price
These ongoing developments contribute to the growth of the Core DAO flagship token. On April 4, 2024, the token surged by over 400%, from around $0.5 to almost $4. However, it has lost most of these gains.
Furthermore, CORE reached its highest price of $6.47 on February 8, 2023; since then, its value has dropped by 75.61%. It is worth noting that CoinMarketCap data indicates that the CORE token saw its lowest price of $0.3432 on November 3, 2023. Since then, its value has increased by 359.56%.
At the time of going to press, the price of Core DAO’s native token, CORE, has increased by 5.07% over the past 24 hours, to $1.56. This remarkable performance has placed it among the top performers in the global cryptocurrency market, alongside Avalance (AVAX), Helium (HNT), and Celestia (TIA).
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Core (CORE) weekly price chart (Source: Coin Market Cap)
Core’s market cap is $1.41 billion, making it the 62nd largest coin by market cap. Its Total Value Locked (TVL) has also increased since its launch in early 2023. Data from DefilLama shows that CORE’s current TVL is $150.63 million.
While this TVL growth is notable, it is the 34th largest chain in terms of total captured value, trailing recently launched chains such as Base and Blast.
