Core adds Cactus Custody to institutional partners, expanding user yield opportunities
Core Blockchain Overview - December 19, 2024
Welcome to the Core Blockchain Overview. A one-stop-shop for the Core community to get up to speed on the network’s latest updates, metrics, releases, insights, ecosystem developments and more. All in one place.
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The Core blockchain by the numbers
Network’s daily transactions: 355.3K (-47.93%)
Total unique addresses: 31.9M (+13.12%)
ERC-20 daily tokens transferred: 117.1K (-21.83%)
Total CORE delegated: 161.86M (+2.31%)
Total BTC staked: 6,249 (-3.39%)
Top 3 Core validators by hybrid score:
The metrics are accurate at the time of publication. The percentage change is over a 14-day period.
Inside the network
🔸What we’re watching: Cactus Custody integrated with Core to provide institutions access to bitcoin staking yields.
🔸Why it matters: This partnership gives investors exposure to the Core network while also allowing them to retain their bitcoin via Core’s Dual Staking model. This removes the need for its users to navigate onchain in a more regulated way, which is more often than not a barrier of entry for most institutional players.
For context, Cactus Custody is a subsidiary of Matrixport, a digital assets platform that has established relationships with Bitcoin mining organizations Bitmain and Antpool This matters because it complements Core’s BTCfi ecosystem to make bitcoin more accessible.
In addition to institutions gaining exposure to yield, this integration gives these mining organizations the ability to manage their assets and earn yield within Core’s staking mode.
The partnership speaks to the growing demand for bitcoin investment strategies within the institutional market by offering secure and efficient staking solutions. Since the spot bitcoin ETF approvals earlier this year, demand for the digital asset has skyrocketed. As a result, many investors in traditional spaces want access to the market through regulated and less-risky avenues.
🔸The bigger picture: Cactus Custody’s integration of Core can strengthen the bridge between bitcoin and decentralized finance by giving institutions the ability to stake it in a secure way.
Core’s mission is to support Bitcoin’s decentralization while also providing financial utility. This partnership can expand this to benefit miners, funds and the broader blockchain ecosystem.
Scaling the ecosystem
Core hit $46.1M in daily volume for dApps on the network, according to DappRadar
b14g launched its marketplace to enable users to earn yield rewards on staked bitcoin without needing CORE, or vice-versa
Avalon Lab released its stablecoin, USDa, to the Core blockchain
Moon Pay integrated its payment system to Element, the wallet for the Core ecosystem
Check out the Core blog for more updates.
Into the Core community
Core Contributor Rich Rines spoke at Bitcoin MENA about the network’s vision and how to mitigate risk
Learn more about different features of the Core network in a thread by X user Core Enthusiast
ICYMI: Coretoshis revealed the art for its NFTs - see them here
Join in the fun
Want to dive deeper into the Core blockchain?
Bitflux Sparks Multiplier campaign is underway - participate here
And listen to an X spaces with the BitFlux and Core team discussing this collaboration
Learn about the Core blockchain and earn rewards via Coinbase’s educational quest program
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This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.