Compound is one of the popular cryptocurrency built on the Ethereum blockchain. It is a Decentralized Finance protocol that enables community governance of Compound protocol. Compound (COMP) was the first crypto platform to introduce yield farming.
The price of COMP had experienced a dramatic rally in 2021 and had attracted many strong hands. Marketers in the business are still keen on investing in Compound and are curious about the COMP price prediction. Are you considering this altcoin for your investment portfolio? Look no further, as this write-up will get all your doubts sorted!
|Market cap||$ 0.0000|
|Trading Volume||$ 0.0000|
|All time high||$ 0.0000 Jan 1, 1970|
|All time low||$ 0.0000 Jan 1, 1970|
|Year||Potential Low||Average Price||Potential High|
Compound had made its way to the year 2022, with a price tag of $198.9. While it did witness a leg-up with the start of the year, as the price brushed $243.8, by January 5th. The spike was short-lived, as the digital asset slipped down to its support at $122.4, by the 22nd of January. After consolidating along the support until the 4th of February. A leg-up pushed the price to $150, by the 8th of February.
However, turmoil in the business pushed the price down to $99 by the 14th of March. Thereafter, an uptrend led to the quarterly closure at $164.2. The second quarter was ruthless for COMP, as the torrential torments slashed the price by over 80%.
If the altcoin carries forward a bullish stance from the second quarter, further seeking impetus from developmental and community building initiatives. The price of the COMP could surge to a maximum of $75.09. Whilst a linear price projection could settle the price at $63.04. Ebbing stance of the protocol and negative criticism could slash the price down to $49.64.
Increasing traffic in Compound’s Treasury, and major announcements of collaborations and adoptions, will turn imperative for the network. Moreover, if the protocol gathers positive social sentiments, COMP’s price could close the annual trade at its potential high of $96.08.
Conversely, the protocol failing to adhere to its expectations or a possible crash in the market could slump the price down to $68.40. That said, constrained by regular trade practices, the average price could settle at $79.15.
If a number of projects seek the functionality of Compound, and if the industry sees Defis spreading the wings again. COMP’s price could reflect positive signs, wherefore, the altcoin could surge as high as $165.01, by the end of 2023. On the flip side, emerging potent rivals and stiffer competition could land the price at $87.76. Collectively, factoring in the bullish and bearish targets, the average price might find its base at $122.92.
The year could turn fruitful for Compound if the crew behind the platform announces community-building initiatives. Moreover, the digital asset could also seek impetus from Bitcoin’s halving event. In such optimistic scenarios, the price might escalate to a maximum of $274.97.
On the contrary, ebbing volumes amidst a possible crash could knock the price down to $148.76. Successively, an equilibrium in buying and selling pressures might settle COMP at $207.55.
Over the next three years, if Compound concentrates on several developments and manages to increase its userbase. The digital coin could climb higher on the market charts. Moreover, if the factors in the industry play in favour of the cryptocurrency. The road to $447.29, could be achievable.
However, regulatory norms and restrictions across the globe could shrink the price to $230.81. Concluding, the lack of propelling events could hamper the price projection to average levels of $334.78.
According to the COMP price prediction by Digital Coin Price. COMP’s price is expected to touch a maximum of $81.17 by the end of 2022. The analysts from the firm have set the minimum and average targets for the year at $70.61 and $76.41.
The forecast also includes the targets for 2023 and 2025. The company expects COMP’s price to surge to a maximum of $92.36, by the end of 2023. And a maximum of $125.29 by the end if 2025.
Trading Beasts has revised its prediction for Compound. It now expects the altcoin to close 2022, with a maximum trading price of $62.788. The analysts believe a trend reversal could drag the price down to $42.696. And constrained by a linear price projection, COMP’s price could settle at $50.231.
The firm has also made forecasts for the long term. It expects the price to surge as high as $46.538 by the end of 2023. And $68.843 by the end of 2025.
As per the Compound price prediction by Long Forecast. COMP could trade at its potential high of $49 by the end of 2022. The firm believes that carrying forward a similar momentum. The price of COMP could surge to its maximum of $73.2 by the end of 2025.
Click here to read our price prediction for Neo (NEO)!
Learning from the makers, Compound is an algorithmic autonomous interest rate project, which is built for developers. The protocol allows developers to access a plethora of open financial applications. Compound is open-source and maintained by the community.
To put things into perspective, Compound is a Defi lending protocol, that allows users to earn interest on their cryptocurrencies. By depositing these into one of the many pools, supported by the platform. The native asset of the platform is COMP, which is an ERC-20 token. That allows its holders to delegate voting rights to an address of their choice. Be it the owner’s own wallet, other user application, or a Defi expert.
Compound was founded in the year 2017, by robert leshner
The protocol enables anyone to rent and lend tokens through a decentralized market. While the lenders earn income in the crypto they lend, the borrowers pay interest for the borrowed sum. The network is handled automatically by “smart contracts”, which process to mint cTokens. After Ethereum and ERC-20 tokens are deposited. The process also enables Compound users to redeem their stake using their cTokens.
The network employs collateralization for all assets and also ensures that each pool is over-collateralized, at all times. If the factor falls any lower, the assets are sold to liquidators at a discounted price. Talking about Compound’s native asset COMP, the total supply of the crypto asset is slabbed at 10 Million COMP. Out of which, 6.7 million are currently in circulation.
Hodlers, marketers, and savvies are quite optimistic about Compound. If the network poses major partnerships and adoptions in the near future. Then the price of COMP could surge to a maximum of $95 by the end of 2022. That said, if it loses out on steam amidst diverging interest of marketers, the price could stumble down to $70.
To read our price prediction of Chiliz (CHZ) click here!
A: Compound entitles lenders and borrowers to provide and take out loans by locking their assets into the protocol.
A: Compound is managed by a decentralized community of COMP token-holders and their delegates, who propose and vote on upgrades to the protocol.
A: According to our COMP price prediction, the altcoin might surge as high as $96.08 by the end of 2022.
A: The community has created a Compound Forum to discuss governance proposals, and share ideas.
A: COMP is available for trade across leading cryptocurrency exchange platforms such as Coinbase Pro, Huobi Global, and Binance, amongst others.
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