Latest Price Update: COMP (Compound's native token) surged 10.13% in the past 24 hours, reaching $57.6.
- 24h Trading Volume: $36 million
- Market Cap: $429 million (Ranked #61)
- Circulating Supply: 7,457,004 COMP
What Is Compound (COMP)?
Compound is a decentralized lending platform built on Ethereum, enabling users to:
- Borrow/lend cryptocurrencies at dynamic interest rates.
- Earn cTokens (exchangeable collateral) for deposited assets.
- Facilitate mortgage-like loans where lenders earn yields and borrowers pay interest.
👉 Discover how decentralized finance (DeFi) works
Price Performance (Historical)
| Period | Change |
|--------------|-------------|
| 1 Week | -5.52% |
| 1 Month | +125.94% |
| 3 Months | +37.18% |
| 6 Months | +66.39% |
| YTD | +90.49% |
Key Metrics:
- 24h High: $63.12
- 24h Low: $52.28
Why Is COMP Rising?
- DeFi Adoption: Increased use of Compound’s lending protocols.
- Ethereum Ecosystem Growth: COMP benefits from Ethereum’s network upgrades.
- Market Sentiment: Positive momentum in altcoins amid broader crypto rallies.
👉 Explore top DeFi projects in 2024
FAQ
Q: Is COMP a good investment?
A: COMP’s value hinges on DeFi adoption. Diversify and research market trends before investing.
Q: How does Compound differ from traditional banks?
A: Compound eliminates intermediaries, offering algorithmic interest rates via smart contracts.
Q: What risks does COMP face?
A: Volatility, regulatory scrutiny, and competition from newer DeFi platforms.
Keywords: COMP token, Compound platform, DeFi lending, Ethereum, cryptocurrency trends, crypto loans, cTokens, altcoin surge
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