TechFlow news, cryptocurrency research firm Messari has released the Q2 2024 State Report for the Core blockchain. Core's DeFi total value locked (TVL) surged 1,032% year-over-year to reach $76.4 million. Colend emerged as the leader in DeFi TVL, with native DEXs such as CoreX and Glyph surpassing cross-chain DEX SushiSwap.
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In April, Core launched non-custodial BTC staking, enabling BTC holders to earn yield without wrapping or relinquishing custody. By the end of Q2, a total of 3,504 BTC (approximately $215 million) was staked.
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In May, Core introduced the Sparks Incentives Program to reward user activity and engagement across the platform.
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In June, Valour launched the first yield-bearing BTC ETP, offering Bitcoin exposure plus a 5.65% yield.
The Core ecosystem added 34 new dApps in Q2, bringing the total to 61. Average daily active addresses rose 52% to 64,700, but average daily transactions dropped 68% to 277,800, primarily due to reduced inscription-related activity. The market cap of the CORE token declined slightly by 4%, yet remains 52% higher than a year ago.
