COMP today’s range shows a marginal correction showing a little bearish pattern in the adverse market and economic conditions. Competing with counterparts like Stellar and Ethereum, Compound has ranked at 113. However, the COMP price is expected to do great in the next few years. Compound is another interesting idea to has come across in recent years, helping make Decentralized Finance more popular among the broader public. Compound is a lending and borrowing decentralized blockchain protocol.
By signing up on such platforms you can easily add Compound to your crypto portfolio. Due to extremely volatile behavior, many traders use to ask whether Compound is for the long term or just a pump and dump. Compound often pumps and the same dump but it’s normal in the crypto market.
- The distribution is allocated to each liquidity pool and set by holders of the COMP token.
- However, since the execution of Proposal 064, called the ‘Fix COMP Accrual Bug’, this issue is believed to be patched up.
- These dynamics can be influenced by fundamental events such as block reward halvings, hard forks or new protocol updates.
- Then the price of COMP could surge to a maximum of $93.87 by the end of 2023.
Then, in January of last year when the price rose more noticeably, while during November, it reached its top at $911. After this, the price had ups and downs but in a bearish manner to its current price, which is around $115. With this price and its current circulating supply, COMP has a market cap of around $750 million.
Contents
How to invest in Compound?
By then, Compound (COMP) would have gained more popularity and value, and its price could even reach $1500. In the second quarter of 2022, the price might start increasing gradually. Since the price COMP has been going down it, in this quarter it can recover a bit, by the price could go up a little bit. By the end of this quarter, we think that the COMP price will reach $181.10. Compound (COMP) is a project that was created with the purpose of allowing investors to join pools that will eventually return interest based on the investments. This return is usually made in cTokens, which represents the individual’s stake owned in that pool.
1-hour, 4-hour and 1-day candlestick charts are among the most popular. According to our Compound forecast, the price of Compound will increase by 22.85% over the next month and reach $ 53.09 by November 4, 2023. The Compound price prediction for next week is between $ 47.01 on the lower end and $ 58.85 on the high end. Based on our COMP price how to sell helium tokens prediction chart, the price of Compound will increase by 25.18% and reach $ 58.85 by Oct 16, 2023 if it reaches the upper price target. Based on our technical indicators, Compound’s 200-day SMA will rise in the next month and will hit $ 46.44 by Nov 04, 2023. Compound’s short-term 50-Day SMA is estimated to hit $ 47.74 by Nov 04, 2023.
- Compound was last seen at $42.69, with a market cap of $292,619,711 and trading volumes of $43,724,084.
- You can earn interest according to the cToken which act as loan collateral, but at the same time, you can spend the cryptos as well until the minimum collateral amount.
- In this update, Platform will allow user to borrow USDC with collateral of WBTC, LINK, UNI and others.
- The MACD indicator has remained in the bearish zone but is gradually starting to show signs of a possible bullish crossover.
- The purpose of a moving average (MA) is to smooth price action over a certain amount of time.
Compound will start 2030 at $78.97, then soar to $83.71 within the first half of the year, and finish 2030 at $88.42. Further technical indicators show the Chaikin Money Flow Indicator (CMF) suggests that capital inflow into the Compound coin has dropped significantly in the past 24 hours. This could mean that investors are expecting a short-term bearish trend in the coming days. The price action suggests a possible bullish breakout to occur at any moment and could send prices toward new highs.
For now, Price Prediction suggests that Compound could reach $2,459.60 by 2032. A new all-time high of $110.97 is predicted for the price of Compound by 2025, as per our Compound price prediction, strongly suggesting the price will go up. There are now many well-known lending protocols operating in how to convert crypto on kucoin this highly competitive sector. And again, security issues could be a factor here — users would be quick to drop Compound for another service. Our long-term Compound price prediction for 2023 to 2030 puts COMP on track to hitting several new highs in the next few years that will delight investors.
The platform’s Compound coin price prediction for 2025 saw the token trading at $80.98 in the middle of the year. Over the longer term, CoinPriceForecast expected the token to grow to $140.11 by December 2030. If investors abandon cryptocurrency, the bears may seize control and dethrone COMP from its upward position. In layman’s terms, the price of COMP might fall to about $300 and $202, indicating a bearish indication. Meanwhile, our long-term COMP price forecast for 2021 is positive.
Should I invest in Compound (COMP) for the short term
According to our Compound prediction algorithm, Compound will hit $1,000 in July 2040. Compound is predicted to gain 0.00% and reach a price of $ 43.21 tomorrow. The Compound is an algorithmic, autonomous interest rate protocol built for developers to unlock a universe of open financial applications. Cryptocurrencies like Compounds have gradually pervaded the mainstream consciousness and gained traction.
Technical Analysis Of Compound’s (COMP) Price Movements
According to our Compound price forecast for 2028, a maximum price forecast of $401.12 is expected. The compound’s price is expected to reach a minimum of $346.76 an average trading price of $358.75. There are strong possibilities that the Compound can get again its position if there is any positive environment in the market. As per our price forecast, the price of Compound can hit an average price level of the $171.19 mark by 2024. The year can end with a maximum price of $184.26 if there is any bullish event.
Anyone who holds the assets that Compound supports (there are currently nine of them) can use the protocol. As a result, COMP can market its service to a large number of existing investors. As the DeFi sector continues to grow and people look for alternative borrowing and lending solutions, Compound is likely qubitica to see more traffic. This will increase the demand for COMP tokens and, consequently, its price. The expected average COMP price for 2023 is $49.347, which is a 8.43% increase in value from the current price. The maximum predicted price for 2023 is $64.798 which is forecasted to be reached in December 2023.
Technical Analysis – Oversold COMP Set for Bullish Retracement
In the borrow and lending protocol help to earn and play floating interest rate, where there is no involvement of terms such as interest rate, collateral and maturity. Even for users, Compound is considered to be friendly since it is easy to use. The verification is rather easy because personal data is not required to participate in the DeFi network.
Crypto Academy Compound (COMP) Price Prediction 2023, 2024, 2025, 2026
CoinMarketCap started to track the price of COMP on the 17th of June 2020 at $64.64. The next day, on the 18th of June 2020, COMP recorded its lowest price (post-ICO) of $61.27. Described as a DeFi (decentralised financial) lending protocol, Compound was originally built on the Ethereum (ETH) network, making it an ERC-20 token. Compound (COMP) is another DeFi service that exploded in 2021 along with much of the crypto market. But as we move further into 2023, what is Compound expected to reach? Before we give away our COMP predictions for the rest of the decade, let’s sum up its unique features.
The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity. Compound protocol currently has $400+ million worth digital assets, as they listed 20+ DeFi application backed by Compound developers, which cover different operation using dApps. To generate Compound Coin Price Prediction, we don’t have any historical data because Compound just listed on CMC.
Wondering where the prices of Compound (COMP) will go in the near future? The aim of this guide is to give you brief details on the outlook of Compound Price Prediction of 2022 and beyond. This allows you to clearly grasp if COMP is a valuable investment. It is the first platform to introduce Yield farming in the crypto community. Before jumping into the prediction content, let’s start with some basic information and a history check of Compound. Compound has formed a bottom at $320-$330 where strong buying pressure has been evident.
The MACD indicator has remained in the bearish zone but is gradually starting to show signs of a possible bullish crossover. The Stochastic RSI also showed a potential bullish divergence which could signal an upcoming uptrend. TVL is the total value of assets locked within a particular protocol.
But if you’re looking for big gains, it depends upon which type of investment you choose, for the long term or the short one. If more investors are attracted to the project the prices of COMP Coin can skyrocket in upcoming years. But we would like to suggest our readers do some personal level analysis and study before making any crypto investment. If you’re looking for the Compound (COMP) Price Prediction or finding the potential of the COMP coin, this price forecast can be helpful for you. The Compound coin is one of the trending altcoins in the market. Our Comp Coin price forecast is based on a deep technical analysis and previous performances of Compound.