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HomeNewsBitcoin-Powered CORE Token Skyrockets 477% in Market Surge

Bitcoin-Powered CORE Token Skyrockets 477% in Market Surge

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  • Core (CORE) has increased by more than 477% in just one week by utilizing a special “satoshi plus” consensus that combines POW and POS.
  • To increase the usefulness of Bitcoin in DeFi applications, CoreDAO introduced coreBTC, a wrapped version of the cryptocurrency on the Core chain.

Within the Bitcoin ecosystem, Core (CORE) is a trailblazing layer-one blockchain project that is drawing interest from both enthusiasts and investors.

With a stunning 477% growth in value in the last week alone, the project—which is well-known for its novel approach to blockchain consensus through the “satoshi plus” mechanism—a mix of proof-of-work (POW) and proof-of-stake (POS)—has had an incredible surge in value.

Economic Predictions and Endorsements

Reputable economist Alex Krüger has endorsed Core, indicating that it has the ability to surpass Stacks (STX), another important participant in the BTC market. The remarkable increase in the token’s value from $0.59 to $3.41 is evidence that Krüger’s predictions about the future of CORE have not only attracted interest but are also starting to take shape.

“There are two kinds of people in crypto,” he declared audaciously. Individuals who are aware of CORE. And those who will “highlight the growing interest in its offer to the market.

Position in the Market and Future Goals

Stacks has a market capitalization of $5.06 billion, while Core is ranked 49th among digital assets with a market capitalization of $2.96 billion, despite its recent success. But with Core’s increasing momentum and Krüger’s belief that CORE would eventually flip STX, the margin might soon close.

Innovation in DeFi

The launch of coreBTC, a wrapped BTC variation intended for the Core chain with the goal of preserving a 1:1 peg with Bitcoin, is a noteworthy move from the CoreDAO. This development is a big step toward combining the many uses of DeFi with the strong security framework of Bitcoin.

Rich Rines, a Core contributor, claims that CoreBTC would completely transform the way Bitcoin owners interact with their assets by giving them new ways to interface with DeFi apps without sacrificing security. The following video has taken a deeper look at this development, giving you more insight.

Meanwhile, Bitcoin is poised to attract $1 trillion in institutional investments during the ongoing bull market, according to a forecast made by Bitwise, highlighting the cryptocurrency’s growing mainstream acceptance and potential for unprecedented growth, as previously reported by ETHNews.

Disclaimer: ETHNews does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. ETHNews is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.
Syofri
Syofri
Syofri is an active forex and crypto trader who has been diligently writing the latest news related to the digital asset sector for the past six years. He enjoys maintaining a balance between investing, playing music, and observing how the world evolves. Business Email: info@ethnews.com Phone: +49 160 92211628
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