Why Did CORE Price Surge 20% While The Crypto Market Dumped?

CORE,
the
native
token
of
the

layer-1
network
CoreChain,
has
surged
over
20%
in
the
last
24
hours.
This
is
a
notable
price
increase,
considering
the
downward
trend
in
the
broader
crypto
market
with
the
prices
of
other
major
cap
tokens,
including

Ethereum
(ETH)

dumping.

Why
CORE
Soared
By
Over
20%

CORE’s
price
rallied
by
over
20%
following

crypto
exchange
Coinbase’s

decision
to
add
the
crypto
token
to
its
listing
‘Roadmap.’
That
means
the
foremost
US
crypto
exchange
plans
to
list
CORE
at
some
point,
although
it
hasn’t
disclosed
exactly
when
that
will
happen.
Regardless,
this
is
undoubtedly
a
positive
development
for
the
CORE
ecosystem,
given
the
exposure
and
mass
adoption
it
could
gain
from
being
listed
on
Coinbase.

CORE
runs
on
the

Ethereum
Virtual
Machine
(EVM)

compatible
layer-1
blockchain
CoreChain.
The
network
is
unique
because
it
adopts
a
‘Satoshi
Plus’
consensus
mechanism.
This
mechanism
adopts
Bitcoin’s
proof-of-work
(PoW)
and
Ethereum’s

delegated
proof-of-stake
(DPoS)

mechanism
to
address
the
blockchain
trilemma
of
decentralization,
scalability,
and
security.

CORE
has
already
had
quite
a
year,
considering
it
is
one
of
the
best-performing
crypto
assets
among
the
top
100
coins
by
market
cap,
with
a
year-to-date
(YTD)
gain
of
over
265%.
This
feat
is
more
commendable
given
that
only
three
crypto
tokens
(Dogwifhat,
PEPE,
and
Arweave)
in
the
top
50
rankings
have
made
more
YTD
gains
than
CORE.

Interestingly,
most
of
CORE’s
price
gains
came
in
the
weeks
leading
up
to
the

Bitcoin
halving,
with
the
crypto’s
price
skyrocketing
by
over
220%
in
a
single
week.
CORE’s
interoperability
with
Bitcoin
also
gives
it
an
edge,
with
the
network
launching
‘CoreBTC,’
which
allows
users
to
bridge
their
BTC
tokens
to
the
network,
thereby
tapping
into
the
liquidity
on
the
flagship
network,
Bitcoin.

CORE
is
now
trading
at
$2.2.
Chart:

TradingView

Coinbase
On
A
Roll

Coinbase’s
decision
to
add
CORE
to
its
list
listing
roadmap
follows
its

recent
listing
of
XRP

and
BONK
for
its
New
York
customers.
The
crypto
exchange’s
decision
to
relist
XRP
undoubtedly
raised
eyebrows,
considering
it
had
delisted
the
crypto
token
in
2021,
shortly
after
the

legal
battle

between
the

Securities
and
Exchange
Commission
(SEC)

and
Ripple
began.

Meanwhile,
BONK’s
listing
has
caused
many
in
the
crypto
community
to
question
when
the
crypto
exchange
will
also
list
meme
coins,

Dogwifhat,
and
PEPE.
Coinbase’s
hesitation
to
list
these
two
meme
coins
continues
to
be
a
surprise,
given
that
they
are
the
fourth
and
third
largest
meme
coins
by
market
cap,
respectively.