State of Core Q2 2024

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  • Post category:Ethereum News

Key Insights

Financial Analysis

CORE is the native token of the Core blockchain and is used as the primary medium of exchange when transacting on the network. CORE has 3 primary use cases:

CORE’s market cap decreased 4% QoQ, and its price decreased similarly 7% QoQ with the discrepancy due to an increase in circulating supply. This decrease moved CORE’s market cap rank down from 58

In Q2, 24.7 million CORE tokens were unlocked

Average daily active addresses increased 52% to 64,700 and average daily transactions decreased 68% to 277,800 in Q2, respectively. From Q4 2023 to Q1 2024, inscription activity spiked

CORE staked was up 12% QoQ to 126.4 million in Q2. Total CORE staked has increased the past 5 quarters, although at a diminishing rate.

DeFi TVL (CORE) increased 1,057% QoQ, marking an all-time-high for the protocol. Similarly, DeFi TVL (USD) increased by 1,032% QoQ. Similar increases denominated in USD and CORE indicate that the TVL increase was due to capital inflows.

Core had an average daily DEX volume of $2.2 million in Q2. DEX Volume maxed out at $13.8 million on April 16, the same day Colend, a lending and borrowing platform, launched

The TVL surge can largely be attributed to Colend

Source: Core DAO

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