Compound Price Prediction
This blog post will cover:
- COMP Statistics
- Compound Roadmap
- Crypto community about COMP
- COMP Price Prediction 2023
- COMP Price Prediction 2024
- COMP Price Prediction 2025
- COMP Historical Price Analysis
COMP is a native token of Compound protocol. This protocol is a number of interest rate markets, which allows customers to earn interest on supplied assets. Users can withdraw their benefits anytime. Basically, it looks like a large liquidity pool, where anyone can contribute and borrow digital assets, an analogy to the instrument of the traditional economy, where people can receive interest on their deposits.
COMP is an ERC-20 token that is used for governance purposes. Token holders and their delegates have the right to participate in discussions, propose changes and vote for them. COMP is distributed every day in the amount of 1,139 COMP daily. To become an owner of this token all a user has to do is to supply or borrow some asset.
The project does not have an official roadmap published on their website. But the team is actively sharing all what is going on with users on social media, for example, in their Twitter account. The developer community also has regular meetings, anyone can join them to stay connected. The announcements are also published on Twitter.
Crypto community about COMP
The Compound community on social media is very active. People show their support for the project no matter what.
People have always been concerned with the price of their favorite token.
COMP Price Prediction 2023
- Tradingbeasts.com provides the following prognosis:
- Analysts of WalletInvestor.com have a totally different forecast:
- Here is a forecast made by WalletInvestor.com:
WalletInvestor.com sees the future of COMP in a more pessimistic way. According to this resource in 2023 the price will fluctuate around $10.Longforecast.com sees a little hope for 2023. In the first half of the year the price will decline, however, starting from July the trend may change.
COMP Price Prediction 2024
As of May 8, 2022:
According to WalletInvestor.com the downgoing trend will remain for 2024. The price will stay between $8 and $5, and will probably go back up to $8 in December.
Not all the prognoses are that pessimistic. For example, analysts from Longforecast.com believe that the upgoing trend is possible and the price may reach $54 by the end of 2024.
COMP Price Prediction 2025
As of May 8, 2022:
WalletInvestor.com suggests that the COMP price has all the chances to go below the $5 mark. The trend will remain. Tradingbeasts.com and Longforecast.com still believe that the future for the COMP token may still be good. Tradingbeasts.com foresees a $266 price by the end of the year. Longforecast.com also sees the price increase, however, according to this resource the price will only reach $78.
COMP Historical Price Analysis
As of May 18, 2022:
All-Time High (May 12, 2021): $911.20
Compound protocol was very popular at the beginning, the COMP token was launched on June 22, 2020 and it hit the $336.22 point right at the start. After that the price was slowly going down for some time. In 2021 the platform revealed a serious bug that caused a $90mil payout and as a result the price declined. Later the price recovered and reached its All Time High.
Even though at the moment the COMP price does not look very satisfying, the experts believe that it is temporary. Since the Compound platform provides a highly useful and popular instrument some crypto enthusiasts believe that it has all the chances to grow in the future.
The Compound protocol is an interesting DeFi project. It allows people to get benefits from using it, which is highly demanded. All the services that provide such an opportunity are gaining popularity. Compound is developing fast and this process often goes side by side with price fluctuations.
SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.