CORE Crypto Surged 62% in the Last 15 Days, Fueled by BTC\'s Rally

Many things happened in the broader market that showed a bullish presence, particularly political volatility, as America will soon see its presidential elections unravel.

As BTC’s surge past the $64000 mark by July 15th had most of the crypto resonating positively, one of those cryptocurrencies was CORE crypto.

Many things happened in the broader market that showed a bullish presence, particularly political volatility, as America will soon see its presidential elections unravel.

Looking at the last 15 days, BTC’s sustenance on the daily time frame chart on July 5th triggered the bullishness.

From the dip to the recovery so far, BTC has gained nearly 20%. CORE has witnessed larger gains of around 62%. As of writing, CORE was trading at $1.30, with an intraday gain of 5.45%.

Between mid-July 2023 to mid-July 2024, the all-time low was recorded around November 3rd, 2023. From the low, CORE is up nearly 300%.

In the same time-span, the all-time high was registered on April 2nd, 2024, at $4.39, and from the high, it has traded comparatively around 70% lower.

Tokenomics: 42.78% of tokens circulating in people’s hands from a total of 2.100 Billion COREs.

The Network has garnered $132.59 Million CORE, delegated on CORE’s blockchain, where the validators are 23/30. Meanwhile, the total BTC on the Bitcoin network delegated to the Core blockchain validators was $4769.819 BTC.

Moreover, by around 19,920 th, the Total Hash delegate was 73 Bitcoin blocks, and the Liquid staking stCORE reward rate was 10.1%.

The Coredao website reports 260 million plus on-chain transactions and nearly 5 Million active wallets (press time). They have a massive following of almost 2.3 Million on X (formerly Twitter) and 253K members on Discord.

Amid green trading activity, CORE market cap has also witnessed 5.60% uptick, increasing its rank on global crypto. It ranked 67th with a market cap amounting to $1.141 Billion.

Meanwhile, the 24-hour volume stands at $104.033 Million, which showed a 31.85% surge. Volatility is moderate as the ratio between volume and market cap of 24 hours was 9.09%.

Derivatives volume surged 23.98% to $68.51 Million, shows Coinglass data. 9.87% new contracts were opened, totaling $15.62 Million in OI.

The liquidation data shows low activity, but despite that, more longs were displayed on the graph against the shorts. However, in the last 15 days, the shorts have grown. As of writing, shorts worth $200.80K are liquidated.

At the same time, longs liquidated are only $87.65K. This signified the bullish price action on the daily chart.

Impressive Growth In TVL Witnessed!

The rise in TVL reflects the increase in the demand for the project and the changing dynamics of market participation. The total TVL of CORE was $136.09 Million as per DefiLlama, and the surge from $3.57 Million is nearly 40x (in just 4 months).

Meanwhile, from July 1st, when TVL was 25.44 Million, it did nearly 5x by last month highlighting CORE’s impressive growth. The higher TVL makes the CORE asset more reliable and less risky.

The asset displayed bullish behavior as it approached the dynamic 50-day and 200-day EMA bands. The MACD surged with a bullish cross in bearish territory, signifying the awakening of a bullish presence.

RSI climbed past the median line at 50.77 after taking assistance from the 14-SMA smoothened line. The RSI is recovering from the oversold to the overbought zone by taking the price with it.

Per the price action, the surge from the last two weeks signifies the breakout from a bullish pattern – the falling wedge.

Therefore, if there’s a demand spike, CORE would probably increase further from the current level. The next resistance in the course for the price would be around $2.0 and $3.0, respectively.

An analyst supports the optimism by claiming that the price could touch $7, as CORE would become the De Facto Layer One for Bitcoin, and he wishes to buy (DYOR).

However, if the crypto re-enters the wedge, the pattern

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