Compound (COMP) Prices Fly High While Markets Undergo Extended Compression; Here are the Targets!

The compound price has been following a steep upswing since the beginning of the month and has surged over 120% to mark interim highs above $70. Presently, the bears are extracting some profits, so the prices are experiencing a minor pullback.

Timeline of Compound

COMP, the native token of DeFi lending protocol Compound Finance, has drawn much attention following its positive price performance in the last day. According to data by CoinMarketCap, COMP has risen by 11.03% in the 24 hours, emerging as the top daily gainer of the market.

Compound, a DeFi heavyweight, has done well in the past few weeks even as the total value locked (TVL) in its ecosystem slipped. COMP was trading at $60 on Monday, sharply higher than last month's low of $23.65. DeFi volume falling Compound is one of the biggest Ethereum DeFi protocols in the world.

Robert Leshner, the well-known creator of the DeFi lending platform Compound Finance, has resigned from his position as the CEO of the DeFi lending protocol. Leshner recently announced his plan to launch Superstate Trust, a new business venture.

Compound (COMP), the governance token of the Compound protocol, has experienced a remarkable surge in value over the past week, positioning itself as one of the top gainers in the cryptocurrency market. The token's price has risen by an impressive 33% within a span of just seven days.

Compound (COMP) has recently surged with a staggering 113% rise in just two weeks, and the reason behind the rally has been the talk of the crypto community. DeFi Ignas, a decentralized finance (DeFi) researcher, has analyzed the recent developments surrounding Compound and provided insights into the potential factors contributing to the surge.

As the crypto world continues to evolve with increased volatility, unique patterns emerge, attracting the interest of investors and analysts alike. One such way has been observed in the recent trading activity of Compound (COMP), the governance token tied to the Compound protocol.

As the largest part of the cryptocurrency market continues to switch between the red and green waves, taking the cue from the flagship decentralized finance (DeFi) asset that has recently crossed the crucial $30,000 threshold, some altcoins have stood out with their daily gains.

To the surprise of many, Compound (COMP) price has spiked by nearly 50% in the last 3 trading days. On-chain data flash multiple green signals, potentially indicating more gains ahead.

Ranked as the 9th DeFi protocol with the largest total value locked (TVL), Compound Finance's native token COMP has seen increased whale accumulation in the last three months, new data from Santiment revealed.

A few unsatisfied investors have proposed a lawsuit against Compound Finance to revoke sales of its native COMP token. The post Lawsuit Claims COMP a Security; Asks Compound to Revoke Token Sale appeared first on BeInCrypto.