Compound (COMP) Analysis, Price, Market-cap and Future Predictions.

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Compound is like a lending and borrowing club for cryptocurrencies. When you join, you can either lend your crypto to others and earn interest, or borrow crypto by putting something valuable as security.

When you lend, you get special tokens representing what you've lent. These tokens grow in value over time, giving you more crypto back than what you put in originally.

Borrowers can take loans by putting down some of their own crypto as collateral. But they have to be careful because if the value of their collateral drops too low, their stuff might be sold automatically to pay back the loan.

Compound has become really popular since it started in 2018, with lots of people putting their crypto in to earn money or taking out loans. Right now, there's over $800 million worth of crypto locked up in the platform.

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Price:

Today, 26th February 2024, the price of Compound (COMP) is $74.05 USD. In the past 24 hours, there has been $77,099,199 USD worth of COMP traded. This means that the value of COMP has increased by 10.29% over the past day. Currently, COMP is ranked #115 among all cryptocurrencies, with a total market value of $598,635,647 USD. There are 8,084,243 COMP coins in circulation, out of a maximum supply of 10,000,000 COMP coins.

The highest price ever paid for Compound (COMP) was $910.54, and that happened on May 12, 2021, about 3 years ago. Right now, the price is 91.88% lower than that all-time high.

On the other hand, the lowest price ever paid for Compound (COMP) was $25.74, and that was on June 10, 2023, which is about 9 months ago. Currently, the price is 187.17% higher than that lowest price ever recorded.

So, basically, even though the current price is way lower than the highest price ever reached, it's still significantly higher than the lowest price ever recorded.

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Future Predictions:

The forecast for Compound (COMP) suggests that it could trade between $61.05 and $456.12. If it reaches the higher end of that range, which is $456.12, it means COMP could increase by 518.28% from its current level. So, if you bought it at its current price and it reached the upper target, you could make quite a bit more money.

The current feeling about Compound, based on our technical analysis, is bullish. This means that most of the signs we're looking at suggest that it's a good time to buy. So, according to our analysis, it seems like a good idea to consider investing in Compound right now.

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Disclaimer: The information provided in this article is for educational and informational purposes only. It is not intended to be, and should not be construed as, financial advice. The content is based on analysis and research and we do not guarantee the timeliness of the information presented to you. Readers should conduct their own research before making any investment decisions. The author and the article shall not be held responsible for any financial losses or decisions made based on the content of this article.