Core Crypto Token Shoots up Amid Cryptocurrency Market Crash

The Coin Core (CORE) is currently up 13% from the previous day, now priced at $3.11 (CORE/USD).

That makes it one of the biggest cryptocurrency market gainers in a period where much of the market is in serious decline. Word is spreading that Bitcoin (BTC) has crashed and is now below $65,000 and still falling.

That has had an adverse effect on the rest of the cryptocurrency market, bringing down major players and causing decline across most of the tokens. We are seeing drops of 7 and 8% for many coins just for the last 24 hours.

The Easter weekend was a rough one for the crypto market, with many coins falling sharply Tuesday morning as trading starts to pick up again after the long weekend. Core, however, is doing just fine.

How Core Managed to Surge

Core is still climbing at the time of this writing, and its trade volume is up 67% amid an investment frenzy. Today’s surge has nothing on what the coin has managed to do over the last week, though. In just seven days, Core has climbed 253%.

The coin still has a long way to go to get back to its all-time high of $6.47, and we do not expect the current rate of increase to continue, but let’s look briefly at why the coin is doing so well.

Core is on a bullish trend right now partly due to the launch of its coreBTC initiative. This gives the coin a way to connect Bitcoin to the Core Chain and add some of the security features of Bitcoin to this token.

Bitcoin staking is a new feature that is incoming, and as excitement builds for that, the coin is taking off. Additional growth may happen due to the new incentive program that Core is initiating. As investors contribute to Core by purchasing assets on its chain, they will be rewarded with more Core tokens. This is set to include a wide number of crypto assets.

Core has a lot of growth potential right now, and estimates say it could hit $4.5 very soon, but do not expect this current trend to last a long time. Interest will likely wane quickly and be drawn back of Bitcoin in time for its halving.