The Core (CORE) price has experienced a 30% surge over the past week and a 5% increase in the last 24 hours after dipping below $1 in early July. Following significant growth in the Core DAO ecosystem, particularly a rise in its active unique onchain addresses, the price of CORE has rebounded to $1.56 at press time.
Unique addresses on Core near 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 nearing 20 million. This marks a notable milestone despite the project’s launch on January 14, 2023, over a year ago.
Core (CORE) is a Turing-complete and EVM-compatible layer-one blockchain. It claims to utilize the Bitcoin hash rate and the delegated proof-of-stake (DPoS) consensus mechanism to establish a secure, scalable, decentralized blockchain. Core employs a unique consensus mechanism called “Satoshi Plus” to “combine the optimal features” of the two.
Core DAO launched Dorian: The BTCFi Money Market, earlier this month, focusing on network yield. Dorian provides a decentralized, quick borrowing and lending experience using Core’s scalable, secure infrastructure and continuously growing liquidity.
Historical analysis of CORE price
These ongoing advancements are contributing to the growth of the Core DAO flagship token. On April 04, 2024, the token surged by more than 400%, from approximately $0.5 to nearly $4. However, it has subsequently lost most of these gains.
Further, on February 08, 2023, CORE reached its highest price of $6.47; since then, it has experienced a 75.61% decrease in value. It’s worth noting that CoinMarketCap data indicates that the CORE token saw its lowest price of $0.3432 on November 03, 2023. Since then, it has seen a 359.56% increase.
At press time, the price of Core DAO’s native token, CORE, has risen by 5.07% in the last 24 hours, climbing to $1.56. This remarkable achievement 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: Coinmarketcap)
Core’s market capitalization is $1.41 billion, making it the 62nd largest coin by market capitalization. Its Total Value Locked (TVL) has also increased since its launch in early 2023. DefilLama data shows that CORE’s current TVL is $150.63 million.
While this TVL growth is notable, it ranks as the 34th largest chain in terms of total value locked and lags behind recently launched chains such as Base and Blast.
