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How did the price of CORE increase by 20% while the cryptocurrency market crashed?

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Recent price action has seen CORE, the native token of CoreChain, experiencing a significant surge of over 20% in the past 24 hours. This surge is particularly noteworthy given the overall downward trend in the broader crypto market, with major cap tokens like Ethereum (ETH) facing significant decreases in price. The surge in CORE’s price can be attributed to Coinbase’s decision to add the token to its listing roadmap, signaling a potential listing on the prominent US crypto exchange in the future.

CORE operates on the Ethereum Virtual Machine compatible layer-1 blockchain CoreChain, utilizing a unique consensus mechanism known as ‘Satoshi Plus’. This mechanism combines Bitcoin’s proof-of-work (PoW) and Ethereum’s delegated proof-of-stake (DPoS) mechanisms to address key issues of decentralization, scalability, and security on the blockchain. The token has already shown strong performance throughout the year, with a year-to-date gain of over 265%, placing it among the best-performing assets in the top 100 coins by market cap.

The weeks leading up to the Bitcoin halving saw a significant increase in CORE’s price, with gains of over 220% in a single week. The token’s interoperability with Bitcoin through ‘CoreBTC’ further strengthens its position, enabling users to bridge their BTC tokens to the network and access liquidity on the Bitcoin network. Coinbase’s decision to include CORE on its listing roadmap represents a positive development for the token’s ecosystem, paving the way for increased exposure and potential mass adoption.

In addition to CORE, Coinbase has recently listed XRP and BONK for its New York customers, with the re-listing of XRP sparking interest due to the previous delisting in light of the legal battle between the SEC and Ripple. The listing of BONK has also raised questions within the crypto community regarding the potential listing of meme coins such as Dogwifhat and PEPE, which are among the top meme coins by market cap. Despite this, Coinbase International Exchange has announced support for perpetual futures of Bonk, FLOKI, and Shiba Inu on its platform, indicating a broader embrace of meme coins in the crypto trading ecosystem.

Looking ahead, Coinbase Advanced will officially begin trading for Bonk, FLOKI, and Shiba Inu perpetual futures on May 30th, while Coinbase Derivatives has introduced futures contracts for Dogecoin, another prominent meme coin. The continuous expansion and diversification of offerings on the Coinbase platform reflect the increasing integration of meme coins and alternative cryptocurrencies within the mainstream crypto market, potentially paving the way for further growth and innovation in the sector.

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