If you have ever gone through the rigorous stress of borrowing from a bank, you would know that you need a better alternative. It is the same situation when you fix an amount for interest. It hardly ends well. You either give up on taking the loan or get slammed with ridiculous interest rates. However, there is a way out with cryptocurrency. Wondering if you can earn interest with cryptocurrency investing? Read this Compound price prediction to learn how to get in.
Backed by asset management gurus in Bain Capital Ventures, Compound has become the answer to many people looking to borrow, lend and earn interest. All of these, without bending to ridiculous demands of traditional financial institutions. The decentralised lending protocol’s impact has also been evident in its native token stance as COMP has grown a massive 500% in price. With an offer of a 4% Annual Percentage Rate (APR) on treasury accounts, Compound seems to be providing a better option for investors.
- Latest News About Compound
- Crypto Never Sleeps
- Compound Technical Analysis
- Compound Price Prediction 2022
- Compound Price Prediction 2023
- Compound Price Prediction 2024
- Compound Price Prediction 2025
- Compound Coin Price Prediction | 2026 and Beyond
- Compound Past Price Performance
- What Is Compound?
- The Compound Cryptocurrency
- Compound Price Today
- Where to Buy Compound Coin
- COMP Coin FAQs
- Can COMP Reach $1,000?
- Is the Compound Network Secure?
- Is the Compound Cryptocurrency a Good Investment?
- Who Are the Founders of Compound?
- How Many COMP Tokens are in Circulating Supply?
- Can I Earn Interest with COMP?
Latest News About Compound
Many crypto traders want to know if COMP will recover from its present state. For this to happen, some positive news has to play a part. Fortunately, it seems like a comeback is not far away due to the latest updates around the project.
The most exciting one is FinTech powerhouse Robinhood adding COMP as part of the new tokens of its platform. Doing this shows that investors and traders alike have a lot of confidence in Compound’s decentralised solution. With over 20 Robinhood million users, COMP now has the potential to grow as more people can own its tokens in one click.
The Compound team recently recorded over $9 billion worth of crypto assets, with owners earning interest across several markets.
Crypto Never Sleeps
According to the reputable YouTube channel, Compound’s services to the crypto space are still in their early stages. The channel lead believes that hundreds of thousands to millions of people will adopt the lending protocol while its token increases in popularity.
Based on their price predictions, COMP could reach $1,400 in 2023. In addition, they believe that the coin will move above the $8,000 mark by 2025. Now that we have some expert predictions let’s move to the projected technical analysis forecast.
Compound Technical Analysis
Technical analysis has proven to be an excellent method to predict crypto prices. However, we won’t deny that some analysts fall on the wrong side of these predictions, but we have filtered them out and brought you the most reliable ones. Look through these Compound price predictions to see if you can invest in it in the future.
Compound Price Prediction 2022
Wallet Investor predicts that the average trading price of Compound could be around $107 by May 2022. Similarly, the maximum price prediction is also very bullish. Based on the analysts, COMP could trade at $234 around the same time. On the other hand, PricePrediction projection for COMP is at a maximum price of $173 by December 2022.
Compound Price Prediction 2023
As expected, COMP seems bound for a non-negotiable price rise in 2023. Several reliable technical analysts agree with these price predictions. According to PricePrediction, COMP tends to reach a future price of $251.68.
Compound Price Prediction 2024
Many technical analysis results show that the Compound coin could be a promising cryptocurrency to hold in the future. In 2024, COMP price predictions are priced at $361.99 and $300.33 at maximum and average values.
Compound Price Prediction 2025
The minimum price prediction for Compound in 2025 could be around $412.94. However, the asset price is expected to increase, putting the projected maximum price at $496.20, while the average price stands at $427.95.
Compound Coin Price Prediction | 2026 and Beyond
In the long run, the Compound community is expected to expand exponentially. It is likely to influence the COMP price action, most likely driving it up the charts. In 2026, technical analysis reveals that the COMP price could rise above $600, with solid potential to reach $700 in the same year. While some predictions are in bearish mode, PricePrediction expects the coin price to be close to $2000.
We do not expect you to take these COMP predictions as unchangeable future happenings. The cryptocurrency market is volatile, and prices are dependent on several factors. So, do your own research before adding Compound to your current investment portfolio.
Compound Past Price Performance
According to historical data, Compound had an impressive 2021, especially mid-year. After being at the mercy of unprofitable instability, the Compound coin began a remarkable journey in January 2021. Before that time, COMP only had an all-time high of $258. Like new year resolutions, COMP started 2021 with a spectacular price rise.
On January 1, 2021, COMP’s price was exactly $145.39. Due to its past price movement, there were fewer expectations about an upward trend. However, COMP switched up on sceptics. By the end of January, one COMP token was worth a stunning $338. At that time, most people thought the hype would end there. Surprisingly, there was more.
In less than four months, COMP reached the highest price of $911.20. However, Compound couldn’t hold the price for long, as it plunged to $335 in June of the same year. Since the last lengthy pump, COMP has failed to reach those levels again. As of this writing, COMP’s current price is $130.21. For many crypto enthusiasts, analysts, and experts, the average forecast price of COMP is expected to be way above this value. Whether this prediction will become a reality, the future will tell.
Now, let’s look at Compound’s fundamentals, the idea behind the project, its native token, and how it has risen in the crypto market.
What Is Compound?
If you look through some crypto projects, you will find many similarities. However, the Compound protocol is unique in its own way and shows an apparent distinct model.
Compound is a decentralised lending protocol that allows users to earn interest on their crypto tokens. Think of Compound as a financial service institution backed by blockchain technology and no central authority. Unlike traditional fiat currency lending organisations, Compound offers users the opportunity to earn lucrative profits on their cryptocurrencies. As the name implies, “compounding” gives you more as you deposit more assets into liquidity pools.
By design, Compound works as a Decentralised Application (DApp) on the Ethereum network. So, users can use several cryptocurrencies to participate in the pools. In simpler terms, you can borrow, lend and earn interest as a Compound user without needing an intermediary or bank. The system is structured as an effective peer-to-peer network and has proven remarkably reliable over the years. What’s more, the Compound cryptocurrency has played a vital role in helping the Compound protocol reach its current strength.
The Compound Cryptocurrency
COMP is the native token of the Compound protocol. Like other decentralised lending protocols, COMP acts as the governance token of Compound’s ecosystem.
Although its function goes beyond that degree, COMP also allows token holders to access Compound’s resources and contribute to decision-making. In terms of price, COMP has proven to be a valuable asset to the community, having crossed a market cap of $800 million.
Compound Price Today
As of this writing, the Compound price equals $130.21. According to CoinMarketCap, the coin has grown over a whopping 88% in the last two years, with a great potential to do better.
Where to Buy Compound Coin
You can buy and sell Compound on a trusted brokerage platform like eToro. While COMP is also available on Binance and Huobi Global, eToro seems like the perfect one to get the tokens. With a beginner-friendly interface and an ever-committed team, eToro has become the go-to platform for top crypto traders. If you intend on getting a COMP token, we highly recommend it.
COMP Coin FAQs
Have specific questions about COMP bothering you? No need to look any further. This Compound price prediction has all you need to know.
Can COMP Reach $1,000?
Since COMP defied all expectations and exploded to $800, many crypto enthusiasts have looked closely at it. According to some experts, they believe the coin can reach the $1 billion market cap. If this happens, there is an excellent opportunity for COMP to reach $1,000.
Is the Compound Network Secure?
Absolutely! The Compound network is a highly-secure one. It would interest you to know that smart contracts are in charge of every part of its ecosystem. So, it’s challenging for a breach to happen. It doesn’t matter if it concerns earning interest, maintaining the collateral level, or getting a secured loan. Compound’s network is duly protected.
Is the Compound Cryptocurrency a Good Investment?
Whether COMP is a good investment depends on your investment goals. While we can’t assure you that the COMP token will give a good return, experts and analysts believe there is a good chance it might. Many believe that it could be a profitable investment at its current price. However, we advise that you do eye-opening research before making a decision.
Who Are the Founders of Compound?
Rober Leshner and Geoffery Hayes founded Compound in 2017. After starting and exiting individual successful companies, the duo collaborated in building Compound Labs. Compound Labs is the parent company of the Compound project.
While the company started with less than five people, it has expanded into a highly-valuable team of fifteen.
How Many COMP Tokens are in Circulating Supply?
As of this writing, there are about 6.6 million COMP tokens in circulation. It would interest you to know that the coin has a total supply of 10 million.
Can I Earn Interest with COMP?
As its name implies, you can earn interest on the Compound coin. The exciting part is that both individuals and financial organisations can earn using the Ethereum-based protocol. Unlike other cryptocurrencies, Compound does not rely on third-party businesses for users to earn their interests.