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Two coins from the Ethereum (ETH) ecosystem are leading the charge of a new resurgence in decentralized finance (DeFi), according to blockchain analytics firm Glassnode.
COMP logs a double-digit decline following a brief jump in value after Robert Leshner announced his departure from the lending protocol.
Compound (COMP), a leading player in the decentralized finance (DeFi) sector, has encountered a significant setback, witnessing a 20% decline in its price over the past week. The downward trend continued with a 3.06% decrease in the last 24 hours and an additional 0.79% shrinkage in the most recent hour, placing the current price at $55.62 per COMP.
Cryptocurrency exchange Binance (CRYPTO: BNB) on Friday announced the approval of Shiba Inu (CRYPTO: SHIB), Compound (CRYPTO: COMP), and Theta (CRYPTO: THETA) as collateral assets. This move is part of Binance's ongoing efforts to expand its Flexible Loan and VIP Loan services.
Despite increased regulatory activity, DeFi index price, led by Compound [COMP] and MakerDAO [MKR], has rallied by 56% since 11 June, Glassnode found in a new report. Glassnode's DeFi price index tracks the performance of the top eight DeFi tokens by market capitalization.
Bitcoin (CRYPTO: BTC) traded lower, with the cryptocurrency prices falling below the key $29,000 level on Tuesday. Ethereum (CRYPTO: ETH) also moved lower, trading below the key $1,900 mark this morning.
After the SEC lawsuit affected the DeFi ecosystem, some tokens recovered.
Curve Founder Michael Egorov's $168M in holdings is under stress, imperiling DeFi as a whole. PLUS: The Litecoin Foundation and crypto cold-storage card manufacturer Ballet HAVE teased a sale of 500 collectable cards – fashioned from 50 grams of fine silver.
In the volatile world of cryptocurrencies, where prices can skyrocket one moment and plummet the next, one decentralized finance (DeFi) platform has managed to stand strong amidst the chaos. Compound (COMP), the renowned DeFi lending platform, has been defying the prevailing bearish sentiment and showcasing an impressive upward trajectory.
The digital currency ecosystem is experiencing an emphatic bearish slump, with some of the most popular cryptocurrencies experiencing a major slip as they pare off their accrued gains for the week. However, Compound (COMP), the renowned decentralized finance (DeFi) lending platform, is seeing bullish momentum today after surging by 9.8% to $76.34.
The support zone at $64.8 was breached during the recent drop, but what followed was a strong bullish sign.
COMP, THE native token of Compound Finance, has seen its market price rise significantly on Wednesday, emerging as the top gainer of the day. According to data from CoinMarketCap, COMP is up by 13.24% in the last 24 hours as the bulls increase their control of the market.
As Bitcoin (BTC) grapples with resistance near the $30,000 level after a week of fluctuations, Compound (COMP) rises by 10% in 24 hours.
Compound's COMP token price drifted upward this week as the network's total value locked (TVL) in the ecosystem drifted upwards. The token rose to $70, the highest level since Monday. It was higher by more than 16% from the lowest level this week.
Key Points: Data from Lookonchain monitoring has sent shockwaves through the crypto community as it uncovered a significant transaction involving a giant whale address related to the Compound team. Approximately two hours ago, the address made a bold move by depositing a staggering 20,000 COMP tokens into Coinbase, amounting to a jaw-dropping US$1.
Investing in cryptocurrencies should incorporate buying lesser-known projects for their substantial long-term upside potential.
Compound's outstanding debt on Ethereum surpassed $1 billion, according to The Block's data dashboard.
Solana (SOL), Compound (COMP), and Tomochain (TOMO) managed to increase during the weekend, resuming the ascent that began the previous week.
Compound crypto (COMP) price has had a massive rally in the past few weeks. Since its bottom in June 2023, COMP price has been up 150%.
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.
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.
Amid the bullish momentum, some assets have towered over others as they look to recoup previous losses.
