The Compound ,Protocol's DeFi Lending Token ;(COMPUSDT analysis)
Compound is an algorithmic, autonomous interest rate protocol built for developers, to unlock a universe of open financial applications
Put simply, Compound allows users to deposit cryptocurrency into lending pools for access by borrowers. Lenders then earn interest on the assets they deposit. Once a deposit is made, Compound awards a new cryptocurrency called a cToken (which represents the deposit) to the lender.
(Rank #53 - kind:Token- On 94,663 watchlists
Market Cap: $2,434,703,938 , Market Cap / TVL Ratio: 0.2804
Fully Diluted Market Cap: $4,796,691,251- Total Value Locked (TVL) :$8,660,847,179
Volume24h: $375,729,658 , Volume / Market Cap : 0.1546
Circulating Supply: 5,075,799 COMP - Max Supply : 10,000,000)
What Is 🌟 Compound (COMP) 🌟?
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 cTokens 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.
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.
❇️Who Are the Founders of Compound?
Compound was founded in 2017 by Robert Leshner and Geoffrey Hayes, both of whom previously worked in high-profile roles at Postmates — an online food delivery service. The two continue to hold executive positions at Compound Labs, Inc — the software development firm behind the Compound protocol, with Leshner currently serving as CEO, while Hayes is the CTO.
refrences: coinmarketcap - compound.finance
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✅TECHNICAL ANALYSIS
As you can see in the weekly time frame chart for COMP/USDT, the price is trading at around $470.
well,It has started its upward trend since last November,
and now by forming the flag pattern it show a continuation pattern of the trend, and it seems that it is still in the uptrend and although the #DEFI season has not started again, surely when starting of that ,comp it is one of the crypto's project that have a good potential ,also it is possible to correct to first support and then continue its uptrend and in weak senario the second support will be valid.
(Anyway, my constant suggestion to my dear community is to buy step by step (or in a few steps) , With proper capital and risk management and by setting stop-loss , To reduce their risk, Because this crazy market also depends on the odds and there is no certainty.)
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👉This analysis is my personal opinion and you are responsible for your own trades or invests.
❤️with Best Regards and successful trades
👍plz hit that damn like button if you like it
Put simply, Compound allows users to deposit cryptocurrency into lending pools for access by borrowers. Lenders then earn interest on the assets they deposit. Once a deposit is made, Compound awards a new cryptocurrency called a cToken (which represents the deposit) to the lender.
(Rank #53 - kind:Token- On 94,663 watchlists
Market Cap: $2,434,703,938 , Market Cap / TVL Ratio: 0.2804
Fully Diluted Market Cap: $4,796,691,251- Total Value Locked (TVL) :$8,660,847,179
Volume24h: $375,729,658 , Volume / Market Cap : 0.1546
Circulating Supply: 5,075,799 COMP - Max Supply : 10,000,000)
What Is 🌟 Compound (COMP) 🌟?
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 cTokens 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.
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.
❇️Who Are the Founders of Compound?
Compound was founded in 2017 by Robert Leshner and Geoffrey Hayes, both of whom previously worked in high-profile roles at Postmates — an online food delivery service. The two continue to hold executive positions at Compound Labs, Inc — the software development firm behind the Compound protocol, with Leshner currently serving as CEO, while Hayes is the CTO.
refrences: coinmarketcap - compound.finance
-------------------------------------------------------------------------------------------------------------------
✅TECHNICAL ANALYSIS
As you can see in the weekly time frame chart for COMP/USDT, the price is trading at around $470.
well,It has started its upward trend since last November,
and now by forming the flag pattern it show a continuation pattern of the trend, and it seems that it is still in the uptrend and although the #DEFI season has not started again, surely when starting of that ,comp it is one of the crypto's project that have a good potential ,also it is possible to correct to first support and then continue its uptrend and in weak senario the second support will be valid.
(Anyway, my constant suggestion to my dear community is to buy step by step (or in a few steps) , With proper capital and risk management and by setting stop-loss , To reduce their risk, Because this crazy market also depends on the odds and there is no certainty.)
--------------------------------------------------------------------------------------------------------------------
👉This analysis is my personal opinion and you are responsible for your own trades or invests.
❤️with Best Regards and successful trades
👍plz hit that damn like button if you like it
