Can Compound Crypto reach $10,000,$1000? Compound Price Prediction 2023-2030.
Latest Compound Price
|Metric||Last 24 Hours||Trend|
|Net Social Media Sentiment||78.4%||Steady|
Latest Compound Crypto News
- Compound Labs successfully passed a proposal for the initialization of cUSDbCv3 on Base, a Compound III USDbC market. Supported by key stakeholders like Polychain Capital, the initiative aims to bridge the Ethereum mainnet to the Base mainnet for the first time. It outlines steps for setting configurations, depositing funds, and redistributing v2 USDC supply-side COMP incentives.
- Compound v3 has been successfully deployed on Polygon DeFi for around six months, achieving the highest user engagement compared to other chains. Gauntlet is proposing changes to Compound’s emissions on both the supply and borrow sides, which have been crucial for the market’s growth.
- The proposal aims to add MaticX as collateral in the USDCv3 Polygon Market on Compound. Currently active with a significant majority voting in favor, the proposal highlights MaticX’s successful integration in other DeFi projects and its potential for enhancing Compound’s utility. MaticX, a liquid staking solution by Stader for MATIC, offers liquidity and ease of staking, with strong security backed by multiple audits and a multi-signature management system. The addition aims to capitalize on MaticX’s growth and extensive use in the Polygon ecosystem.
Before we get into the Forecasts, let us understand if Compound is a good Investment.
Compound Price Prediction: Is Compound Coin a Good Investment?
Compound (COMP) is a decentralized lending protocol. It works on the Ethereum network. Compound was first launched in the year 2018. The native token of the project is known as Compound (COMP). The platform provides an income opportunity for digital assets placed in pools supported by the network with the DeFi protocol.
Users receive a cryptocurrency generated within the forum in exchange for the digital assets they deposit into the pool. The tokens are produced to determine the share of the members in the pool. Users earn income based on the annual interest rate provided by the pool. Compound is similar to the saving account at the bank but it uses a peer-to-peer system to run as a decentralized finance network. Having assets locked in a Compound pool, an investor gets an opportunity to earn daily interest similar to bank interest. If you lock in your crypto funds with the platform, you can pocket increasingly lucrative returns with compounding interest.
Compound allows users to seamlessly lend, borrow, and earn interest in cryptocurrency. Due to the smart contract, this process is completed automatically in no time. Compound deals with both lenders and borrowers. The lenders add their crypto funds into the liquidity pool, for borrowers, Compound matches the borrowing value in the pool and provides coins equal to the value that the borrower wants.
Now once the borrower borrows the coin, the borrower is now entitled to return the coin back into the liquidity pool with additional interest. This interest is used by Compound to reward the lenders who placed their coins in the liquidity jar. The interest is transferred to the wallet of the lenders automatically.
Encumber is a mechanism for non-custodial DeFi that allows token owners to separate token ownership from the right to transfer them. It introduces two primary functions: ‘encumber’, which locks tokens to another account, and ‘release’, which returns control of tokens to the original owner. Encumber has many potential use cases including lending markets, protocol governance, short-term financing, and options contracts. It provides token holders with the ability to participate in DeFi while retaining benefits like airdrops and governance rights.
What is the use of COMP Token?
COMP is the native token of the Compound network and like all the Defi native tokens it is used as a governance token on the Compound network.
COMP tokens enable their holders to vote on the platform to determine the future direction of Compound. COMP serves as a bridge between the user and the Compound network.
Compound Performance so far
- Year to date (2023): +77.2%
- Last 12 months: -6.1%
- Since Launch: -45.1%
Overall, Compound appears to be a moderate case for Investment
Compound Price Predictions
Can Compound crypto reach $10,000?
To reach $10,000, Compound will need to rise 170-fold. At $10,000, COMP’s market cap would be $78 Billion. At a growth rate of 25% every year, COMP could rise to $10000 in 24 years.
Realistically speaking while the Market Cap is somewhat feasible, the sustained growths are not sustainable given the Crypto’s strengths and weaknesses. 75% burn will be needed to be able to reach $10,000
Will Compound crypto reach $1000?
To reach $1,000, Compound will need to rise 17-fold. At 17x, COMP’s market cap would be $7.8 Billion. At a growth rate of 25% every year, COMP could rise to $1000 in 12 years.
Realistically speaking this is much more feasible Still, a 50% burn will make it much easier.
Comp Price Prediction Today
- Compound Price Prediction in the next 24 hours is between $42.5 and $44.5
- Compound Price Prediction this week is between $41.2 and $48.1
|Overall Outlook||Partially Bearish|
|1. Market's Wisdom||Partially Bearish|
|1a. Market Data||Partially Bearish|
|1b. Technical Recommendation||Neutral|
|2. Crowd's Wisdom||Partially Bearish|
|2a. Social Media Buzz||Lower|
|2b. Social Media Sentiment||Steady|
Compound Price Prediction 2023-2030, Aggregated
- Compound Price Prediction 2023 is $68.8
- Compound Price Prediction 2024 is $105
- Compound Price Prediction 2025 is $156
- Compound Price Prediction 2026 is $222
- Compound Price Prediction 2027 is $275
- Compound Price Prediction 2028 is $380
- Compound Price Prediction 2029 is $550
- Compound Price Prediction 2030 is $791
Compound Price Prediction: How to Buy Compound (COMP)?
Compound or COMP is a popular crypto coin that is rising in the ranks. For the users who want to buy this particular Cryptocurrency, here are some important steps to follow.
- Find a reliable cryptocurrency exchange and create an account.
- Fund the cryptocurrency exchange wallet.
- Buy Compound or COMP coins.
Where Can One Buy Compound (COMP)?
Here are some options for different crypto exchanges that sell COMPOUND (COMP) coins. You can choose from these options:
Binance, Coinbase, Huobi Global, FTX, Kraken, KuCoin, CEX.IO and Bybit
- CEX.IO – CEX (Centralised Exchange) is a digital asset trading platform that allows users to purchase, sell, and exchange cryptocurrencies in a centralized and secure environment.
- Kraken – Kraken is a well-known cryptocurrency exchange that provides a safe platform for purchasing, selling, and trading cryptocurrencies. It offers innovative trading capabilities, stringent security measures, and a diverse selection of cryptocurrency alternatives to consumers.
- KuCoin – KuCoin is a worldwide cryptocurrency exchange noted for its user-friendly interface, varied variety of cryptocurrencies, and one-of-a-kind features like its KuCoin Shares (KCS) token and profit-sharing program for users.
- ByBit – Bybit is a cryptocurrency derivatives exchange that focuses on providing leveraged trading on a variety of cryptocurrencies. For traders looking for margin trading opportunities, it has powerful trading tools, perpetual contracts, and a user-friendly interface.
Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.
Read about the emerging Ethereum Challenger Aptos