CORE, a layer 1 token, has surged by over 300% weekly despite the recent market liquidation. It has emerged as the top gainer in the market this week, with triple-digit gains while other tokens are facing corrections.

After the Easter break, Bitcoin ETFs witnessed an $85.7 million net outflow, causing a 5% dip in the cryptocurrency and leading to a downward trend in altcoins. However, CORE has maintained its market performance, with a 70% increase in daily trading volume.

The recent rally in CORE can be attributed to upgrades in the Core network. The launch of a new NFT marketplace on the network and an airdrop by the network’s DAO as part of a new defi reward mechanism have further fueled the token’s growth.

Last week, the Core Foundation introduced coreBTC, an asset on the network secured by Bitcoin and compatible with the EVM. This ERC-20 token maintains a 1:1 peg with Bitcoin, allowing users to interact with defi applications while ensuring Bitcoin’s security features.

CoreBTC leverages a decentralized network for security and integrates into the EVM ecosystem, providing a trustless method for wrapping assets. The aim is to enhance Bitcoin’s utility and increase participation in the defi space.

These developments have played a significant role in CORE’s recent rally, showcasing the token’s potential in the current market environment.

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