Layer 1 token CORE has increased by more than 300% in a week despite Tuesday's significant market liquidation.

With the market as a whole going through substantial corrections, CORE emerged as the biggest gainer this week and the only token to record three-digit increases. The cryptocurrency fell 5% today after the Easter holiday due to a $85.7 million net outflow from Bitcoin ETFs, and other altcoins did the same.

Notwithstanding the token's roughly 70% increase in daily trading volume today, CORE's market performance has not changed. The several enhancements to the Core network are mostly responsible for the rally.

Earlier today, Core announced a new NFT marketplace on the network, and yesterday, the network’s DAO announced a new airdrop as a part of its new defi reward mechanism.

In an effort to connect Bitcoin with the defi ecosystem, the Core Foundation last week unveiled coreBTC, an asset on the network that is both Bitcoin-secured and EVM-compatible.

An ERC-20 token called CoreBTC keeps a 1:1 peg with Bitcoin, allowing its holders to interact with defi applications without jeopardising the security characteristics that make Bitcoin so secure.

For security, the token makes use of a decentralised network with several roles. It offers a trustless method of packaging assets and interfaces with the EVM ecosystem. The objective is to increase involvement in the defi space and diversify the uses of Bitcoin.