CORE, the native token of the layer-1 network CoreChain, has experienced a significant surge of over 20% in the last 24 hours. This rise in price is particularly noteworthy considering the recent downturn in the wider crypto market, with major cap tokens like Ethereum (ETH) seeing declines.
The recent spike in the price of CORE can be attributed to the announcement by crypto exchange Coinbase to include the token in its listing ‘Roadmap.’ While the exact timing of the listing remains undisclosed, the plan to list CORE on Coinbase represents a positive development for the CORE ecosystem. This move is expected to bring increased visibility and potentially foster mass adoption for CORE.
Operating on the Ethereum Virtual Machine (EVM) compatible layer-1 blockchain CoreChain, CORE stands out with its innovative ‘Satoshi Plus’ consensus mechanism. This mechanism combines elements of Bitcoin’s proof-of-work (PoW) and Ethereum’s delegated proof-of-stake (DPoS) to tackle the challenges of decentralization, scalability, and security.
With an impressive year-to-date gain of over 265%, CORE has emerged as one of the best-performing crypto assets within the top 100 coins by market capitalization. Notably, only three tokens (Dogwifhat, PEPE, and Arweave) in the top 50 rankings have achieved greater gains than CORE.
Interestingly, CORE’s price witnessed substantial growth leading up to the Bitcoin halving, with a remarkable 220% surge in a single week. The network’s compatibility with Bitcoin through ‘CoreBTC’ enables users to bridge BTC tokens to leverage liquidity from the Bitcoin network.
Coinbase’s decision to include CORE in its listing roadmap follows recent listings of XRP and BONK for New York customers. The move to relist XRP, especially after its delisting in 2021 during the legal dispute between the SEC and Ripple, has raised eyebrows in the industry.
As Coinbase expands its offerings, questions arise about the potential listing of meme coins like Dogwifhat and PEPE, which are among the top meme coins by market capitalization. The platform’s recent announcement regarding the addition of perpetual futures for Bonk, FLOKI, and Shiba Inu reflects a broader trend towards expanding trading options for users.
Furthermore, Coinbase Derivatives has introduced futures contracts for Dogecoin, showcasing the platform’s commitment to catering to a diverse range of crypto assets. The evolution of Coinbase’s offerings underscores the growing interest and demand for a variety of cryptocurrencies and derivative products in the market.
