Compound (COMP) token outperforms the market as DeFi TVL rises to $14.4B
Crypto prices are down across the board but a surge in DeFi sector growth appears to be pushing Compound’s COMP token higher. The price of COMP, the governance token of the decentralized finance (DeFi) giant Compound, has been surging while the wider crypto market has entered a correction. Despite the ongoing cryptocurrency market slump, the token has rallied 56% in the past week.COMP/USDT 4-hour chart. Source: TradingView.comUnusually low funding rate and spot market accumulationThere are various potential reasons behind the sudden rally of COMP. Traders have pinpointed the unusual market....
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Compound Finance’s native token COMP was among the biggest gainers in the decentralized finance space on Wednesday. The fourth-largest DeFi token by market cap surged by more than 10 percent, hitting an intraday high of $154.08 as traders assessed a flurry of upside fundamentals around it. A pseudonymous analyst noted that the Compound protocol lured […]
Compound's governance token, COMP, fell below $100 early Tuesday. The DeFi token kicked off the yield farming craze way back in June.
COMP, a governance token associated with lending platform Compound, is back into rough waters after sailing calmy for days. The 37th-largest cryptocurrency by market cap fell by $25.14, or 20.15 percent, to $100.68. Its move downside started at a local top of $126.10, established after an eight-day upward consolidation of around 45 percent. That was […]
New entrants to the DeFi sector and established traders looking to borrow funds have pushed the price of Compound (COMP) to a new all-time high. As Bitcoin and numerous altcoins surge toward new all-time highs, traders who are coin rich but cash poor are increasingly flocking to decentralized finance lending platforms where they can collatoralize their holdings to raise funds for new investments. Compound is one of the leading DeFi lending platforms and over the past month its TVL and governance token price has rallied to new highs.Total value locked in Compound. Source: Defi....
The price of COMP remains above the daily 50 EMA as it approaches $80. Price remains bullish, holding above key support areas COMP price ranges in an asymmetric triangle with high buy orders. The Compound (COMP) token price has recently been volatile as price ranges in an asymmetric triangle prepare for a breakout to a region of $80 against tether (USDT). Despite the fact that the crypto market is in a state of flux, the Compound (COMP) price has shown tremendous strength as it attempts to break out of its trading range. (Data from Binance) Related Reading: PoW Tokens Take A Hit: Ravencoin....