Core, a proof-of-stake blockchain built on Bitcoin, has surpassed $260 million in dual-staked assets as institutional interest in Bitcoin-based decentralized finance (DeFi) continues to grow.

Core’s initial contributor, Rich Rines, told Cointelegraph that as of April 7, over 44 million Core tokens have been dual-staked with 3,140 Bitcoin (BTC). At the time of writing, the assets are worth about $260 million. 

Core’s dual-staking model lets Bitcoin holders earn higher yields with CORE tokens. While users can stake BTC at a lower rate, those who stake BTC with Core tokens get an enhanced yield. 

“Dual Staking can multiply base staking rewards over 15 times, depending on how many CORE tokens are staked,” Core said in a statement. 

Core’s new milestone highlights growing demand for Bitcoin staking

The latest milestone was driven in part by institutional investors integrating Core’s staking model into their platforms.

Core Foundation said that major custodians like BitGo, Copper and Hex Trust have enabled their clients to gain access to the protocol by integrating dual staking. Core added that it had partnered with Maple Finance for a structured asset that uses Core’s dual-staking to generate yield. 

Rines told Cointelegraph that institutions have been crucial catalysts to the early success of its dual staking model. He said the model unlocks new opportunities for institutions.  

“This shift has broader implications for the Bitcoin ecosystem. Historically, institutional BTC holdings required paying custody fees without generating yield,” Rines told Cointelegraph.

He added that by integrating Core’s staking model, institutions can turn Bitcoin into a yield-bearing asset that offsets costs and unlocks new capital efficiencies.

At the time of writing, Core holds the biggest total value locked (TVL) among Bitcoin sidechains. Footprint analytics puts Core’s TVL above $400 million, with a market share of 28%.  

Distribution of chain TVLs among Bitcoin sidechains. Source: Footprint Analytics

Related: Bitcoin ETFs lose $326M amid ‘evolving’ dynamic with TradFi markets

Bitcoin becoming “productive” 

The Core team said the increase in the number of dual-staked CORE tokens highlights how the product fulfills its design. Rines told Cointelegraph: 

“The 44 million+ CORE tokens dual-staked to date show real adoption of the model. It reflects that users, both retail and institutional, are actively looking to put their Bitcoin to work securely and sustainably.”

Rines emphasized that Core’s dual-staking system offers a sustainable utility for long-term Bitcoin holders without requiring them to relinquish custody.

“This is Bitcoin becoming productive, not by trusting third parties, but by participating in a system designed to reward real alignment and long-term engagement,” Rines said.

Magazine: New ‘MemeStrategy’ Bitcoin firm by 9GAG, jailed CEO’s $3.5M bonus: Asia Express

The European Central Bank is intensifying its warnings over stablecoin adoption, with one of its top officials calling for a digital euro to curb the influence of US dollar-pegged stablecoins across the continent.

ECB executive board member Piero Cipollone has penned another article highlighting concerns over the growing popularity of US dollar stablecoins, arguing that launching a central bank digital currency (CBDC) could help preserve the eurozone’s monetary sovereignty.

A potential digital euro “would limit the potential for foreign currency stablecoins to become a common medium of exchange within the euro area,” Cipollone wrote in a statement published April 8 on the ECB’s official website.

The remarks follow a string of similar public statements from Cipollone, who has been a vocal advocate for a digital euro as a strategic response to the dominance of dollar-backed stablecoins in Europe.

A “public-private partnership to retain sovereignty”

In the latest piece, Cipollone reiterated that excessive reliance on foreign providers — including stablecoins as well as international card schemes — compromises the monetary sovereignty of Europe.

“It also underscores the urgent need for a digital euro. Failing to act would not only expose us to significant risks but also deprive us of a great opportunity,” the central banker said.

ECB’s executive board member Piero Cipollone. Source: Bloomberg

Cipollone also cited concerns about the United States’ increasingly crypto-friendly stance under the current administration, including efforts to promote dollar-based stablecoins globally.

Related: Lawmaker alleges Trump wants to replace US dollar with his stablecoin

“They could potentially result not just in further losses of fees and data, but also in euro deposits being moved to the US and in a further strengthening of the role of the dollar in cross-border payments,” he said, adding:

“Faced with these challenges, we need a public-private partnership to retain our sovereignty. The digital euro — as a sovereign European means of payment based on EU legislation —  would be the cornerstone of this partnership.”

ECB wants to promote cash but can’t do it online

Cipollone also highlighted the “vital role of cash” in ensuring financial inclusion and resilience, stating that cash remains a “cornerstone of the European financial system” and is its only sovereign means of payment.

However, a growing preference for digital payments has limited the use of cash amid the rapid growth of online shopping, which now accounts for one-third of European retail transactions, he said.

“Cash cannot be used online, and it is often not possible to pay using a European payment service, meaning we need to rely on non-European payment systems,” Cipollone added.

“The time to act is now,” he said. “Making progress on both the digital euro regulation and the regulation on the legal tender status of cash has become urgent if we are to increase our resilience to possible disruptions and reverse our ever-increasing dependence on foreign companies.”

Despite the ECB’s ongoing efforts, the proposed digital euro has faced criticism and skepticism among European consumers, especially around data privacy concerns.

An ECB working paper on the digital euro published in March showed that European consumers are not interested in adopting a digital euro, with many seeing little value in the potential CBDC.

Magazine: Stablecoin for cyber-scammers launches, Sony L2 drama: Asia Express

The global trade war may be a silver lining for Bitcoin’s growing recognition as a safe-haven asset next to gold, thanks to its liquidity and accessibility advantages compared with precious metals.

Financial markets have been rattled since US President Donald Trump’s April 2 reciprocal import tariffs announcement, leading to record-breaking sell-offs for traditional stock markets and a Bitcoin (BTC) correction below $75,000.

While gold remains the dominant refuge for investors during geopolitical stress, analysts say Bitcoin’s digital nature and 24/7 liquidity are helping it attract renewed interest.

“You want to store value in something other than US assets. But you don’t want to own other nations’ currencies/debt/assets because they’re even weaker and you expect they’ll debase it,” said Hunter Horsley, CEO of crypto asset manager Bitwise, in an April 9 post on X.

“You look around, and you see it: an asset that can’t be debased, is controlled by no country, and that you can take into your possession immediately. You wind up buying Bitcoin,” Horsely said.

Source: Hunter Horsley

Despite the growing optimism, gold will likely remain the dominant asset, especially in the near term, Aurelie Barthere, principal research analyst at Nansen crypto intelligence platform told Cointelegraph, adding:

“Bitcoin is promising, but it’s still quite volatile, it could get there gradually. The PBOC has been shedding US Treasury holdings and increasing gold reserves for years. Therefore, I expect this trend to accelerate regardless of the crypto narrative.”

Related: 4th gen crypto needs collaborative tokenomics against tech giants — Hoskinson

China’s Finance Ministry on April 9 announced new tariffs of up to 84% on US imports, effective April 10, as a retaliatory measure against Trump’s policy. Analysts say a resolution would reduce uncertainty and reignite appetite for risk assets like crypto.

China’s tariffs come as a retaliatory response to Trump’s tariff plan, which imposed a 34% tariff on Chinese imports, effective April 9.

Some industry analysts see Trump’s global tariff negotiations as mere “posturing” for the US to reach an agreement with China, a development that may end global trade uncertainty and see risk assets such as crypto recover.

Related: Bitcoin ETFs lose $326M amid ‘evolving’ dynamic with TradFi markets

China, Russia reportedly using Bitcoin for settlement

Some nations are already taking steps toward using crypto assets for settlement in global trade.

“China and Russia have reportedly begun settling some energy transactions in Bitcoin and other digital assets,” wrote Matthew Sigel, head of digital assets research at VanEck, in an April 8 note. “These are early signs that Bitcoin is evolving from a speculative asset into a functional monetary tool.”

Sigel noted other examples, including Bolivia’s plans to import electricity using crypto and French utility firm EDF’s exploration of using surplus power to mine Bitcoin.

“These developments reflect a growing interest in neutral settlement rails, especially among economies looking to bypass the US dollar,” he said.

Previous reports also indicated that Russia is using Bitcoin and stablecoin for international oil trade to circumvent global sanctions.

Bitcoin’s evolving “volatility profile” also points to BTC “gradually maturing from a risky asset to a safe-have asset,” wrote André Dragosch, macro analyst and European head of research at Bitwise.

While the tariff uncertainty will continue limiting risk appetite during the negotiations, positive developments could bring renewed investment into crypto markets.

“We’ll start to see the rotation toward the crypto markets in the coming period where there’s more calm and peace in the markets where investors start to buy the dip and understand that some things have been undervalued,” Michaël van de Poppe, founder of MN Consultancy, told Cointelegraph.

Magazine: Bitcoin ATH sooner than expected? XRP may drop 40%, and more: Hodler’s Digest, March 23 – 29