- The supply inflation of the Core crypto is extremely high.
- In just last 11 days, the price of the CORE has advanced by 350%.
CORE is the native token of the Core blockchain, utilized for transaction payments, smart contract interactions, and governance participation. Powered by the “Satoshi Plus” consensus mechanism, blending delegated Bitcoin mining hash and DPoS, it incentivizes validators and developers to enhance and secure the network, facilitating decentralized applications.
With a huge surge of 147% in the trading volume of the crypto, the market cap of the crypto has advanced by 67% in just the last 24 hours. The market cap ranking of the crypto is #56 as per CoinMarketCap.
The current market cap value of the Core crypto is $2.358 Billion which results in a market cap dominance of 0.09% and the value of the traded volume for the crypto is $417.559 Million over the last 24 hours. This further results in a volume/market cap ratio of 17.7% which indicates medium volatility in crypto.
The crypto price is not trading on any trusted exchanges and also is not trading with any fiat currency. Despite this, the sentiment of the crypto is bullish while the crypto price is highly volatile resulting in a volatility of 22.5%.
The current circulating supply of the crypto is 875.04 Million CORE which is 41.6% of the maximum supply. Furthermore, the maximum supply and the total supply of the crypto is 2.1 Billion CORE. The crypto has a fully diluted market cap of $5.637 Billion and has a huge supply inflation of 1081.95%.
Core Crypto Derivatives Analysis
The open interest for the Core crypto has witnessed huge surge over the last few days which is further followed by a strong surge in derivatives trading volume.
The Open interest for the crypto has advanced by 65% in just the last 24 hours and the derivatives volume has advanced by 259% which has resulted in a traded value of $1.87 Billion.
Also, in the last 24 hours, the crypto has witnessed a higher short liquidation of $4.26 Million while the long liquidation for the crypto is $2.6 Million. This further has resulted in a long/short ratio of 1.0028.
Development Activity Vs X Followers
X followers for the crypto have significantly declined which shows the lack of social media popularity of the crypto. Also, the development activity for the crypto does not show any significant change indicating further lack of development in the blockchain of the crypto.
CORE Crypto Technical Analysis
The CORE crypto price is following a very strong momentum and the price of the crypto has been consistently advancing over the last few days with very strong momentum.
The price of the crypto was inside a rising wedge pattern for a very long time and gave a one-time breakout which led to an advance of more than 350% in the trading price of the crypto.
CORE/USD Chart by TradingView
There is a huge deviation between the 20-day and the 50-day EMA as the price of the crypto is trading 140% above the 20-day EMA. Also, the EMAs are trading in a golden cross, highlighting an uptrend in the crypto price.
The MACD follows the same indicating a strong uptrend in the price followed by the bullish cross of MACD and the Signal line. The histograms are also strongly bullish on the charts.
The RSI on the daily chart of the crypto has further advanced to overbought levels and is currently trading at 94. This further indicates a very strong momentum in the crypto price.
Although the price of the crypto and other metrics indicate strong bullishness in the price, there is a possibility for a huge retracement in the price of the crypto.
Summary
With a remarkable surge in trading volume and market cap, Core crypto has seen a staggering 350% price increase in 11 days. Supported by robust technical indicators like golden cross and bullish MACD, the crypto displays strong bullish momentum despite social media decline, hinting at potential growth opportunities for investors.
Technical Levels:
- Support Levels: $0.5399 and $0.94170
- Resistance Levels: $3.00 and $3.500
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.