Altcoins Soar Post-Bitcoin Halving, CORE and AIOZ Lead the Surge

Despite Bitcoin's price remaining stable, altcoins have experienced notable gains over the weekend. Bonk, Core (CORE), and Aioz Network (AIOZ) have rallied significantly. CORE's introduction of non-custodial Bitcoin staking, a first of its kind, has boosted its price by 68% in the past week. AIOZ's partnership with Alibaba Cloud to enhance Web3 capabilities in the Asia-Pacific region has contributed to its 13% growth.

Altcoins Experience Notable Gains Post-Bitcoin Halving

Following the highly anticipated Bitcoin halving, the cryptocurrency's price has returned to its pre-halving levels, hovering around the US$65k (AU$100k) mark. However, several altcoins have exhibited impressive rallies over the weekend.

Core (CORE): Bitcoin Staking for HODLers

Core (CORE), the native token of the Layer-1 blockchain Core, has emerged as a standout performer, surging 68% in the past week and 16% in the last 24 hours. This surge is attributed to the introduction of a groundbreaking feature that allows Bitcoin (BTC) holders to stake their tokens and earn yields.

Traditionally, Bitcoin users were unable to stake their tokens due to the cryptocurrency's proof-of-work consensus mechanism. However, Core's Satoshi Plus consensus mechanism, which combines delegated proof-of-work and delegated proof-of-stake, now supports BTC staking as part of its strategy to enhance its Ethereum Virtual Machine (EVM)-compatible blockchain.

This move, which marks the first time BTC staking is possible "without leaving the Bitcoin Network," has generated significant excitement and contributed to the surge in CORE's price.

Aioz Network (AIOZ): Web3 Partnership with Alibaba Cloud

Aioz Network (AIOZ) has also defied the market's sideways trend, gaining 13% in the past week and 7% in the past 24 hours. This rally is attributed to the announcement of a strategic partnership with Alibaba Cloud, aimed at bolstering Web3 capabilities across the Asia-Pacific region.

Aioz Network will play a pivotal role as a blockchain collaborator in Alibaba Cloud's Innovation Accelerator, providing both technological and financial support to selected projects. Additionally, the partnership aims to establish a DePIN Alliance in Southeast Asia to enhance AI, storage, and streaming capabilities.

Furthermore, Aioz Network and Alibaba Cloud plan to host hackathons and regional events to foster the growth of the Web3 community throughout the Asia-Pacific.

Conclusion

While Bitcoin's price has remained relatively stable post-halving, the altcoin market has witnessed notable gains. Core (CORE) and Aioz Network (AIOZ) have particularly impressed, showcasing innovative features and strategic partnerships that have propelled their token values. These developments underscore the continued evolution and growth of the cryptocurrency ecosystem, fostering excitement and providing investors with new opportunities.