COMP is a token of platform Compound. Its current price is around $56.47 at the time of writing, with a low of $26.52, and it has a market cap of 410 million dollars.
What is Compound (COMP)?
COMP is the coin of the Compound platform, which is around $56.47 at the time of writing, with a low of $26.52. It reached a high of $173.91, and its current ranking is #95, according to CoinMarketCap, with a market cap of 410 million dollars.
COMP is a token built on Ethereum’s blockchain that allows its users to govern the Compound protocol. The protocol consists of decentralized interest rate markets that enable people to borrow and lend Ethereum tokens with varying interest rates.
Compound (COMP) is a DeFi protocol operating on the Ethereum blockchain based on decentralized technology. It has its ERC-20 token, COMP, and works as a decentralized app providing powerful features for decentralized finance. All of this happens directly within the Ethereum blockchain network.
COMP Coin Market Analysis
COMP has a total supply of 10,000,000 coins worth around $56.47 with a market volume of 565 million dollars, whereas the market capitalization is 410 million dollars at writing. Compound (COMP) has become an ideal choice for many investors seeking quick & easy returns. In addition, it offers a range of benefits like crypto loans, passive interest income, and significant financial savings. All these features combined make it an attractive platform for those who want to make smart investments.
COMP Price Prediction
On the 1W timeframe, the price action of $COMP/USDT bounces nicely. Currently, the price is moving below the horizontal resistance zone and forming a double bottom. If it breaks its neckline and after a successful retest, it can go upward. On the other hand, the price may fall from here.
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The Crypto market is known for its volatile nature. According to the above analysis, the coins we discussed might prove to be profitable if other market conditions prevail favorably. We suggest you engage in adequate research before investing in any digital assets.