Search Inside Bitcoins

COMP Price at $369.57 after 13.7% gains – How to Buy COMP Bulls

Compound (COMP) Price Gains 22.2% to $380.10 – How to Buy Compound
Compound (COMP) Price Gains 22.2% to $380.10 – How to Buy Compound

The majority of the crypto market is trading in the green zone after making significant gains in the past 24 hours. Compound is among the altcoins making significant gains. Compound recently came into the limelight for launching Compound Treasury, a significant development in DeFi. Compound Treasury boosted institutional adoption for COMP and pushed values further.

Compound is trading at $369.57 at the time of writing after a 13.7% gain in 24 hours.

COMP Price Analysis

COMP Price Analysis July 21
Source: TradingView

Compound appears to be in a zone of high volatility. COMP has been on a rising streak in the past 24 hours, and this upswing could continue. If it manages to maintain the uptrend, we could see COMP heading towards breaking out of resistance at $400. Strong market support could also trigger another bull run for COMP to around $520, as seen at the beginning of July.

On the flipside, market support could fail once more, and bitcoin, together with altcoins, will go to lower levels. COMP will mimic this trend, and just like the rest of the market, it will retest lower support at $320. At the moment, bitcoin is struggling to hold water above $30K, and if trips again, COMP will also trip.

Compound Treasury is encouraging fintechs to join DeFi. The platform allows non-crypto fintechs to gain a fixed interest rate of 4% that is higher than what is offered under a regular savings account. Treasury had a positive impact on COMP’s growth at the beginning of the month, and by attracting more fintechs, this growth will increase.

On July 19, Grayscale, one of the largest digital asset custodians, announced that it would be adding a new product that focuses on DeFi tokens such as Compound. This addition will also have a positive impact on COMP’s value. The DeFi fund will attract increased demand for Compound and thereby boost value increase.

Where to Buy COMP

If you want to buy COMP tokens, you can create a cryptocurrency exchange account on a reputable and secure platform such as eToro. eToro is one of the leading exchanges, and it has become popular for supporting a wide range of cryptocurrencies and trading pairs. eToro is also reputable for supporting user-friendly features such as copy trading and a demo trading account.

Looking to buy or trade Compound (COMP) now? Invest at eToro!

75% of retail investor accounts lose money when trading CFDs with this provider

Read next

InsideBitcoins uses cookies to improve and customize your user experience. Learn more

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close