{"id":600739,"date":"2024-04-01T12:51:19","date_gmt":"2024-04-01T12:51:19","guid":{"rendered":"https:\/\/wncen.com\/?p=600739"},"modified":"2024-04-01T12:51:19","modified_gmt":"2024-04-01T12:51:19","slug":"bitcoin-powered-core-dao-core-skyrockets-by-220","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-powered-core-dao-core-skyrockets-by-220\/","title":{"rendered":"Bitcoin-Powered Core DAO (CORE) Skyrockets By 220%, Here&#8217;s Why"},"content":{"rendered":"<p>Core DAO (CORE), the cryptocurrency behind the Core blockchain, has seen its price skyrocket by 220% over the last week, marking a significant milestone in its market performance. As of the last 24 hours, CORE has seen an additional 63% increase, accumulating a staggering 350% gain in just nine days. This rally has elevated Core DAO to the 55th position among all cryptocurrencies by market cap.<\/p>\n<h2>What Is Core DAO?<\/h2>\n<p>Core DAO operates on the Core blockchain, a Layer 1, EVM-compatible platform that supports the Bitcoin network by offering a secondary BTC<a href=\"https:\/\/wncen.com\/news\/bitcoin\/solo-bitcoin-miner-200000-reward\/\" target=\"_blank\" rel=\"noopener \"> block reward<\/a>. The Core blockchain distinguishes itself through its unique Satoshi Plus consensus mechanism\u2014a hybrid of Bitcoin&#8217;s Proof-of-Work (PoW) and a delegated Proof-of-Stake (DPoS). This mechanism aims to address the blockchain trilemma, ensuring decentralization, scalability, and security.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitwise-ceo-predicts-11-billion-drop-in-bitcoin-supply-post-halving\/\" target=\"_blank\" rel=\"noopener \">Bitwise CEO Predicts $11 Billion Drop In Bitcoin Supply Post Halving<\/a><\/div>\n<p>Core aims to create a strong and inclusive community within the Web 3 ecosystem, offering various features such as a stake bridge, airdrops, and a mining app to facilitate participation and engagement. The project is focused on building Web3 infrastructure and promoting public chains based on <a href=\"https:\/\/wncen.com\/academy\/top-10-proof-of-work-blockchains-like-bitcoin\/\" target=\"_blank\" rel=\"noopener \">Bitcoin\u2019s Proof-of-Work consensus,<\/a> boasting over 10 million transactions, 550,000 addresses, and significant social media presence\u200b\u200b\u200b\u200b.<\/p>\n<p>As of press time, Core&#8217;s market cap was about $2.3 billion, with a 24-hour trading volume of approximately $447 million. The circulating supply of CORE tokens is 875,161,702 out of a maximum supply of 2,100,000,000 CORE tokens.<\/p>\n<h2>Factors Behind CORE&#8217;s Exponential Rally<\/h2>\n<p>The recent price rally of CORE can be attributed to a confluence of factors, including the anticipation of the <a href=\"https:\/\/wncen.com\/news\/bitcoin\/when-is-the-next-btc-halving-date-bitcoin-halving-guide\/\" target=\"_blank\" rel=\"noopener \">Bitcoin halving<\/a>, scheduled in 20 days, and significant project announcements.<\/p>\n<p>One of the pivotal developments propelling Core&#8217;s rise is the soon-to-come launch of non-custodial Bitcoin staking, which is expected to boost the public chain&#8217;s TVL and favor a rise in CORE price.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/bitcoin\/wyckoff-sos-bitcoin-to-100000-fund-manager\/\" target=\"_blank\" rel=\"noopener \">Wyckoff \u2018SOS\u2019 Could Catapult Bitcoin To $100,000: Hedge Fund Manager<\/a><\/div>\n<p>Moreover, the launch of coreBTC has been a significant catalyst. CoreBTC enables Bitcoin holders to engage in the DeFi space on the Core Chain without compromising on Bitcoin\u2019s foundational principles of trustlessness and security. This initiative paves the way for Bitcoin to become a central asset in DeFi&#8217;s future, backed by decentralized smart contracts and rigorous overcollateralization requirements.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">1\/ coreBTC is live on Core Chain, which means users can trustlessly bridge their BTC to a Bitcoin-secured DeFi experience on Core Chain. <a href=\"https:\/\/t.co\/6KFWdbQzbR\" rel=\"nofollow\">pic.twitter.com\/6KFWdbQzbR<\/a><\/p>\n<p>&mdash; Core DAO \ud83d\udd36 (@Coredao_Org) <a href=\"https:\/\/twitter.com\/Coredao_Org\/status\/29227193?ref_src=twsrc%5Etfw\" rel=\"nofollow\">March 28, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Additionally, Core has <a href=\"https:\/\/twitter.com\/Coredao_Org\/status\/09734562\" target=\"_blank\" rel=\"noopener nofollow\">kick-started<\/a> a 6-month incentive program targeting the BTCfi ecosystem. This program is designed to fuel growth and adoption by rewarding contributions to the ecosystem, particularly in bridging assets and exploring decentralized applications (dApps). The initiative covers assets from various blockchains, including Ethereum, Arbitrum, Optimism, Avalanche, Polygon, and BNB, thereby enhancing participation in Core&#8217;s flagship dApps.<\/p>\n<p>At press time, CORE traded at $2.69.<\/p>\n<figure id=\"attachment_600750\" aria-describedby=\"caption-attachment-600750\" style=\"width: 3628px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-600750 size-full\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/COREUSD_2024-04-01_14-09-55.png?resize=3628%2C1673\" alt=\"Core DAO price\" width=\"3628\" height=\"1673\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/COREUSD_2024-04-01_14-09-55.png?w=3628 3628w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/COREUSD_2024-04-01_14-09-55.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/COREUSD_2024-04-01_14-09-55.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/COREUSD_2024-04-01_14-09-55.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/COREUSD_2024-04-01_14-09-55.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/COREUSD_2024-04-01_14-09-55.png?w=2048 2048w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/COREUSD_2024-04-01_14-09-55.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/COREUSD_2024-04-01_14-09-55.png?w=1140 1140w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/COREUSD_2024-04-01_14-09-55.png?w=3000 3000w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><figcaption id=\"caption-attachment-600750\" class=\"wp-caption-text\">CORE price, 4-hour chart | Source: <a href=\"https:\/\/www.tradingview.com\/x\/a6OhoNyz\/\" target=\"_blank\" rel=\"noopener nofollow\">COREUSD on TradingView.com<\/a><\/figcaption><\/figure>\n<div class=\"disclaimer-shortcode\">Featured image created with DALL\u00b7E, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Core DAO (CORE), the cryptocurrency behind the Core blockchain, has seen its price skyrocket by 220% over the last week, marking a significant milestone in its market performance. As of the last 24 hours, CORE has seen an additional 63% increase, accumulating a staggering 350% gain in just nine days. This rally has elevated Core DAO to the 55th position among all cryptocurrencies by market cap. What Is Core DAO? Core DAO operates on the Core blockchain, a Layer 1, EVM-compatible platform that supports the Bitcoin network by offering a secondary BTC block reward. The Core blockchain distinguishes itself through its unique Satoshi Plus consensus mechanism\u2014a hybrid of Bitcoin&#8217;s Proof-of-Work (PoW) and a delegated Proof-of-Stake (DPoS). This mechanism aims to address the blockchain trilemma, ensuring decentralization, scalability, and security. Related Reading: Bitwise CEO Predicts $11 Billion Drop In Bitcoin Supply Post Halving Core aims to create a strong and inclusive community within the Web 3 ecosystem, offering various features such as a stake bridge, airdrops, and a mining app to facilitate participation and engagement. The project is focused on building Web3 infrastructure and promoting public chains based on Bitcoin\u2019s Proof-of-Work consensus, boasting over 10 million transactions, 550,000 addresses, and significant social media presence\u200b\u200b\u200b\u200b. As of press time, Core&#8217;s market cap was about $2.3 billion, with a 24-hour trading volume of approximately $447 million. The circulating supply of CORE tokens is 875,161,702 out of a maximum supply of 2,100,000,000 CORE tokens. Factors Behind CORE&#8217;s Exponential Rally The recent price rally of CORE can be attributed to a confluence of factors, including the anticipation of the Bitcoin halving, scheduled in 20 days, and significant project announcements. One of the pivotal developments propelling Core&#8217;s rise is the soon-to-come launch of non-custodial Bitcoin staking, which is expected to boost the public chain&#8217;s TVL and favor a rise in CORE price. Related Reading: Wyckoff \u2018SOS\u2019 Could Catapult Bitcoin To $100,000: Hedge Fund Manager Moreover, the launch of coreBTC has been a significant catalyst. CoreBTC enables Bitcoin holders to engage in the DeFi space on the Core Chain without compromising on Bitcoin\u2019s foundational principles of trustlessness and security. This initiative paves the way for Bitcoin to become a central asset in DeFi&#8217;s future, backed by decentralized smart contracts and rigorous overcollateralization requirements. 1\/ coreBTC is live on Core Chain, which means users can trustlessly bridge their BTC to a Bitcoin-secured DeFi experience on Core Chain. pic.twitter.com\/6KFWdbQzbR &mdash; Core DAO \ud83d\udd36 (@Coredao_Org) March 28, 2024 Additionally, Core has kick-started a 6-month incentive program targeting the BTCfi ecosystem. This program is designed to fuel growth and adoption by rewarding contributions to the ecosystem, particularly in bridging assets and exploring decentralized applications (dApps). The initiative covers assets from various blockchains, including Ethereum, Arbitrum, Optimism, Avalanche, Polygon, and BNB, thereby enhancing participation in Core&#8217;s flagship dApps. At press time, CORE traded at $2.69. Featured image created with DALL\u00b7E, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":600764,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,656,1119,9468,91977,91978,91979,14690],"class_list":["post-600739","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-news","tag-btc","tag-core","tag-core-dao","tag-core-dao-price","tag-core-price","tag-crypto-news"],"acf":[],"yoast_head":"\n<title>Bitcoin-Powered Core DAO (CORE) Skyrockets By 220%<\/title>\n<meta name=\"description\" content=\"Core DAO (CORE), the cryptocurrency behind the Core blockchain, has seen its price skyrocket by 220% over the last week.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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You can engage with his latest takes on Twitter: @realJakeSimmons.\",\"sameAs\":[\"https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons\"],\"url\":\"https:\/\/wncen.com\/author\/marcusmisiak\/\"}]}<\/script>\n","yoast_head_json":{"title":"Bitcoin-Powered Core DAO (CORE) Skyrockets By 220%","description":"Core DAO (CORE), the cryptocurrency behind the Core blockchain, has seen its price skyrocket by 220% over the last week.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/wncen.com\/news\/bitcoin-powered-core-dao-core-skyrockets-by-220\/","og_locale":"en_US","og_type":"article","og_title":"Bitcoin-Powered Core DAO (CORE) Skyrockets By 220%","og_description":"Core DAO (CORE), the cryptocurrency behind the Core blockchain, has seen its price skyrocket by 220% over the last 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Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. 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