dYdX (dydx) 
CORE, the native token of the layer-1 Core ecosystem, has shown significant growth recently, making it the top gainer among the leading 100 cryptocurrencies. As of now, CORE is up by 70% in the past 24 hours, trading at $2.8, a level not seen since March 2023. The asset’s market cap has surged to $2.45 billion, positioning it as the 54th-largest cryptocurrency in the market.
Despite the recent surge, CORE is still down by 58% from its all-time high of $6.47 on Feb. 8, 2023. The daily trading volume of CORE has also seen a substantial increase, rallying by 145% to reach $433 million. Interestingly, 40% of CORE’s trading volume comes from OKX, indicating high investor confidence in their trading positions.
However, it is important to note that CORE is currently in the overbought zone, which may lead to a bearish trend in the future. The Relative Strength Index (RSI) for CORE has surged from 30 on March 22 to 91 recently, indicating overbought conditions or potential whale manipulation. This could result in high price volatility as investors may take short-term profits in uncertain market conditions.
Despite the high RSI, the sentiment among investors for CORE remains positive, with a weighted sentiment of 1.71, slightly higher than the negative sentiment. This suggests that investors still have confidence in the asset despite the overbought conditions.
In conclusion, while CORE has shown impressive growth recently, investors should be cautious of the overbought conditions and potential market manipulation. Keeping a close eye on market indicators and sentiment can help investors make informed decisions in the volatile cryptocurrency market.
