Compound (COMP) Shoots Up, Gains 12% In 24 Hours!

Compound (COMP) Shoots Up, Gains 12% In 24 Hours!
  • Compound (COMP) gains more than 12% in 24 hours.
  • Reaches price of $215.07 from low of $183.62.
  • At the current pace, the COMP target will be $250.

The Compound (COMP) is one of the most anticipated altcoin, based on the Decentralized Finance (DeFi) protocols. 

The native token of the Compound DeFi protocol platform, the COMP took the whole crypto industry to a historical surge from low of $136 to all the way up to $854.48, making its epic ATH. In addition, this took place in just a few months. 

However, prices dropped and surged back again and the similar  bounce back was witnessed many times. 

In spite of all this, taking the past 24 hours into consideration,  the COMP has gained overall more than 12%. 

The Surge of 12% 

Upon the early hours of December 18, 2021, COMP was at a low of $183.62, the lowest for the day. Yet, over the next few minutes, COMP started to surge up exponentially. In spite of this, it hit the highest for the day at a price of $215.07. 

On other hands, taking the past 24 hours into consideration,  the overall gains accounts to a whopping 12%. Indeed,  this is one of the hot gainers for the day. 

Though, maintaining low compared to its ATH of near to $900, an unexpected surge gave a good promise upon the DeFi token. Moreover analysts term that the next close range target for COMP is $250. 

Compound Lab’s New Strategies

The Compound DeFi protocol platform comes under the Compound Labs. Recently, the Compound Labs are working hard to come up with numerous proposals for the betterment of the Compound ecosystem. 

Accordingly, one of the proposals includes the addition of stablecoin, such as the Pax dollar (USDP). Indeed, addition of stablecoins ought to develop and boost the DeFi based platform evidently.

Furthermore, many such proposals include increasing the decentralized security of the protocol, taking up continuous audits and much more. Moreover, most of these decisions will be decided upon vote castings, through those who hold the governance tokens with them.  

A Project Engineer by profession, a writer by passion. Especially into the critics and skeptics on cryptocurrency. His fascination towards the crypto world and his personal experience on it has made him a writer with a taste.