Compound is a decentralized finance (DeFi) platform that allows users to lend and borrow money in the form of a base asset, USDC, initially.
Founded in 2017 by Robert Leshner and Geoffrey Hayes, the protocol allows users to earn a passive income by earning interest by supplying stablecoins. The platform is powered by its governance token COMP.
This article is your go-to guide to the Compound blockchain platform and its native token COMP. I will discuss the key features of the platform and the economics of the token.
I will also tell what the experts think about the future prices of COMP and where and how you can buy them.
Let’s dive right into it.
Compound Key Features
| Lending and Borrowing | Compound users can loan out their cryptocurrencies to earn interest to other users who want to borrow. Deposits of users are represented by their stake in the pool. |
| Interest Rates | The platform has built-in algorithms that will decide the interest rates based on the existing supply and demand. |
| Governance | The Compound platform uses a community governance system that allows holders of the COMP token to propose and vote on the future of the protocol. |
Compound (COMP) Tokenomics
The total supply of COMP is 10 million tokens, which is also its maximum supply. Out of these, only 8,084,586 COMP are in circulation. The total value locked in the ecosystem is estimated to be $1.1 billion.
Compound (COMP) Current Position
As I am writing these lines, COMP is traded at $91.35, appreciating by 9.09% from yesterday. At $119 million, the trading volume has come down by almost 50%. The market capitalization is $738 million.
Compound (COMP) Price Prediction 2024
Short-term quantitative indicators suggest that the market is bullish about COMP while the Fear & Greed Index scores an 80, indicating extreme greed.
The token has stayed 21(70%) out of the last 30 days in green territory, with a price volatility of 16.91%.
Our technical team predicts that the price of COMP will rise by 15.02% and hit the $109.00 mark by the end of next week.
Compound (COMP) Price Prediction 2025
Talking about 2025, our analysts think that next year will be one of the best for investors in COMP.
The prediction is that the token’s price will fall between $80.02 on the low end and $579.28 on the high end.
If we compare that with the current price, the price ceiling will be a whopping 537.68% return on investment in less than 2 years.
Compound (COMP) Price Prediction 2030
Fast forward to 2030, the price of COMP is expected to be in the range of $382.85 on the conservative side and $721.60 on the other end.
Compared to the prices now, this will be a very good 694.31% return.
Where to Buy Compound (COMP)?
Places from where you can buy COMP with maximum liquidity are Binance, HTX, Coinbase, OKX, Bybit, Uniswap, and Kraken.
How to Buy Compound (COMP)?
I will explain how you can buy COMP from Binance since the exchange came based on market depth and trading volume.
- If you already don’t have one, create a free account on Binance via their website or the smartphone app and verify your identity.
- Use your credit card or account transfer option to load your account with funds.
- Navigate to the ‘buy’ option on the top of the website to buy USDT coins.
- Go to the trading section and, on the search bar, type ‘COMP/USDT’. Hit ‘buy’ and hit ‘confirm’.
- Once the transaction is complete, you can move the COMP tokens to a personal crypto wallet or keep them in your Binance wallet.
Conclusion
Acting as a link between lenders and borrowers in the crypto space, the compound token offers a promising future. The algorithmic interest rates and community governance add to the platform’s attractiveness.
Though COMP has not been performing well in the market after the 2021 boom, the token is regaining steam starting from 2024. Our technical analysts are bullish on the token up until 2030.
All of that being said, it is still important to note that, crypto assets are susceptible to abrupt price fluctuations and market sentiments can have a pivotal impact on them despite solid fundamentals.
The reader is cautioned to exercise prudence while approaching such asset classes. As always, never invest with money you don’t have.
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