Key Takeaways
- COMP token price fell 8.33% in 24 hours to $61.55**, with a trading volume of **$40 million.
- Market cap stands at $470 million, ranking #62 among cryptocurrencies.
- Compound is an Ethereum-based lending platform enabling crypto borrowing/lending with interest-bearing cTokens.
Price Performance Overview
- 24-Hour Range: $58.29 (low) – $67.51 (high).
- Circulating Supply: 7,756,991 COMP.
Historical Trends
| Period | Change |
|--------------|---------|
| 1 Week | -2.09% |
| 1 Month | +84.57% |
| 3 Months | +73.16% |
| 6 Months | +36.20% |
| YTD | +121.08%|
What Is Compound?
Compound is a decentralized finance (DeFi) protocol allowing users to:
- Lend crypto assets to earn interest via cTokens.
- Borrow against collateral with variable APRs.
- Trade cTokens for other assets—similar to traditional "collateralized loans."
Market Context
Recent Crypto News
- Worldcoin (WLD) listed on OKX for USDT trading.
- SEC reviewing six spot Bitcoin ETF proposals.
- Ripple’s XRP deemed non-security by U.S. court, boosting crypto volumes.
FAQ
1. Why did COMP drop 8.33%?
Market-wide volatility and profit-taking after a 121% YTD surge likely contributed.
2. Is Compound a good investment?
While COMP has strong utility in DeFi, its price depends on adoption rates and ETH ecosystem growth.
3. How does Compound compare to Aave?
Both are lending platforms, but Compound focuses on simplicity, while Aave offers more asset options.
👉 Compare top lending protocols
Disclaimer: Crypto investments are high-risk. This content is for informational purposes only and not financial advice.
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