Compound's native token COMP recorded an 8.01% intraday gain, reaching $58.78** with a 24-hour trading volume of **$17 million. Its market capitalization stands at $436 million, ranking it 61st among cryptocurrencies.
Key Metrics
- Circulating Supply: 7,457,004 COMP
- 24-Hour Range: $51.81 (low) – $58.99 (high)
What Is Compound (COMP)?
Compound is an Ethereum-based lending protocol where users borrow/lend cryptocurrencies to earn interest via cTokens, which can be traded against other assets. It operates similarly to traditional collateralized loans, with lenders earning yields and borrowers paying interest.
Historical Performance
| Period | Change |
|--------------|-------------|
| 1 Week | -21.39% |
| 1 Month | +66.81% |
| 3 Months | +25.51% |
| 6 Months | +51.92% |
| YTD | +70.46% |
Market Context
Recent cryptocurrency headlines highlight regulatory pressures and exchange developments:
- Binance faces SEC scrutiny, leading to executive turnover and U.S. staff cuts.
- OKX expands its partnership with Manchester City as a sleeve sponsor.
- Institutional tools like OKX’s "Spread Algo" streamline basis trading.
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FAQ
Q1: Why did COMP surge today?
A1: The gain likely reflects broader market recovery and increased DeFi activity.
Q2: Is COMP a good long-term investment?
A2: While its YTD growth is strong, investors should monitor Ethereum ecosystem trends and regulatory risks.
Q3: How does Compound differ from Aave?
A3: Both are lending protocols, but COMP’s governance model and cToken mechanics offer unique utility.
Data as of latest market close. Always conduct independent research before investing.
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3. **Anchor Text**: Strategic link to OKX for user engagement.
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5. **Sensitive Content**: Removed promotional links and standardized financial data.