Compound Coin Overview
|Total Supply||10,000,000 COMP|
|Based on||Decentralized Finance|
|All-time high||$193.01 USD|
|Exchange Platform||Coinbase, MXC, FTX, Hotbit, Hoo, Probit Exchange, Poloniex, BiKi|
|Wallet||Coinbase Wallet, Ledger, Metmask|
Compound Coin Price Prediction: Compound is a DeFi lending protocol that allows users to earn interest on their cryptocurrencies by depositing them into one of several pools supported by the platform.
When a user deposits tokens to a Compound pool, they receive ctokens in return. These tokens represent the individual’s stake in the pool and can be used to redeem the underlying cryptocurrency initially deposited into the pool at any time.
For example, by depositing ETH into a pool, you will receive cETH in return. Over time, the exchange rate of these cTokens to the underlying asset increases, which means you can redeem them for more of the underlying asset than you initially put in — this is how the interest is distributed.
On the flip side, borrowers can take a secured loan from any Compound pool by depositing collateral. The maximum loan-to-value (LTV) ratio varies based on the collateral asset but currently ranges from 50 to 75%.
The interest rate paid varies by borrowed asset and borrowers can face automatic liquidation if their collateral falls below a specific maintenance threshold.
Compound Coin Price Prediction 2021, 2022, 2025, 2030
|Month & Year||COMP Price Prediction|
Compound Coin Price Analysis
Since the launch of the Compound mainnet in September 2018, the platform has skyrocketed in popularity, and recently passed more than $800 million in total locked value.
The live Compound price today is $358.40 USD with a 24-hour trading volume of $265,463,010 USD. The Compound is down 1.89% in the last 24 hours.
The current CoinMarketCap ranking is #70, with a live market cap of $2,157,196,951 USD. It has a circulating supply of 6,018,895 COMP coins and a max. supply of 10,000,000 COMP coins.
Is Compound a good investment?
No doubt, Compound is a unique crypto coin. According to Compound, the majority of cryptocurrencies sit idle on exchange platforms, doing nothing for their holders. The compound looks to change this with its open lending platform.
The compound platform allows anybody who deposits supported Ethereum tokens to easily earn interest on their balance or take out a secured loan — all in a completely trustless way.
Where to buy Compound Coin?
If you would like to know where to buy Compound, the top exchanges for trading in Compound are currently Binance, Mandala Exchange, OKEx, CoinTiger, and FTX.