Spike in DeFi lending pushes Compound (COMP) price to a new high at $570
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....
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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 […]
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....
DeFi tokens take center stage as top lending protocols AAVE, Maker and Compound establish new all-time highs. Several DeFi tokens saw their prices breakout on Feb. 4 as Bitcoin (BTC) and Ether (ETH) prices traded sideways for the day. Aside from the general bullish trend permeating the DeFi sector, positive comments from big-name investors touting the benefits of blockchain technology and DeFi appear to be lifting sentiment throughout the sector.Currently, Bitcoin price is still struggling to reclaim the $38,000 level and according to Cointelegraph analyst Marcel Pechman, top traders may....
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 […]
The governance tokens for Uniswap and Compound reached new 2021 highs as altcoins and DeFi tokens pushed higher today. On Jan. 30 Uniswap (UNI) and Compound (COMP) both rallied to new all-time highs as the entire DeFi sector continued to heat up. UNI soared to a new all-time high at $19.93 and COMP price did the same as it briefly traded at $340. COMP/USDT 4-hour chart. Source: TradingViewIn the past 30 days the entire decentralized finance sector has been in a strong uptrend and data from DeFi Pulse shows the total value locked has soared from $16.43 billion on Jan. 2 to a new all-time....