Search Inside Bitcoins

COMP Price Prediction: Compound is Up 69.61% Can Compound Reach $100 Soon?

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

COMP Price Prediction
COMP Price Prediction

Join Our Telegram channel to stay up to date on breaking news coverage

The Compound (COMP) has been gaining ground for a couple of months. As of press time, the price of the Compound has changed by 2.22% in the past 24 hours and is currently at $53.02. This has resulted in a market capitalization of $528,547,304.30 for the tokens. So far this year, the Compound has seen a change of 69.61%.

COMP Protocol

Compound, a leading project in the DeFi market, uses cryptocurrencies to create financial products without intermediaries, giving users more control over their money. It pioneered the concept of “liquidity mining,” which allows users to earn interest and COMP tokens on their deposited crypto assets. 

Other cryptocurrency projects have followed suit by introducing similar tokens for liquidity farming. Compound utilizes Ethereum’s smart contracts to replace intermediaries with computer programs.

To supply or lend crypto assets on Compound, users deposit them into the protocol and receive tokens in return. These tokens accrue interest for the user. Users can also use their deposited assets as collateral to borrow from Compound, using an over-collateralization model to ensure that no one can borrow more than what is collateralized.

COMP Price History

Compound distributes 42% of its 10 million total tokens through the protocol to users at 2,312 COMPs per day until 2024. The remaining tokens are allocated as follows:

  • 24% to shareholders of Compound Labs
  • 22% to the Compound founders and staff
  • 8% to participants in the project’s governance
  • 4% to future Compound staff members 

The token, COMP, is a “governance token,” allowing holders to vote on significant changes to the protocol. After its launch in June 2020, COMP’s price peaked at $337.05 and fluctuated between $80 and $250 for the rest of the year. In May 2021, COMP reached its all-time high of $854.48 during a crypto-wide bull run before quickly falling to $342.96 on May 22 and hitting a low of $221.85 on June 20, 2021. 

Since then, the price has been hovering between $200 and $500, with a peak of $508.91 in September 2021. The price has since been on a bearish move until the end of last year.

Comp Technical Analysis: The Recovery Journey

COMP Price Prediction

The price of comp flashed down quickly in a series of bearish movements. However, the bulls intercepted the bears, who put pressure on the market and the current market price. 

At press time, the price of COMP is $53.02, with a 24-hour trading volume of $40,106,631. The circulating supply of COMP is 6.9 million shares, resulting in a market cap of $358,848,567. The Compound’s (COMP) price has increased by 0.54% in the last 24 hours and by 8.6% in the past seven days. 

The most recent Death Cross in the Bitcoin market occurred 578 days ago, on June 28, 2021. The 50-day EMA for Compound crosses the market, indicating a surge in COMP prices at the beginning of Q1 2023. Similarly, the market has crossed above the 200-day EMA, confirming the Compound (COMP) bull run to the following resistance levels. 

The price of COMP may reach the resistance level of $67. The market has had a short retracement, but the support level is substantial. This indicates that the market will generally reach $100 soon.

COMP Price Prediction

The comp price has been gradually rising and is currently at $52. This indicates that the bulls are in control, but not entirely. Our prediction for COMP is that it may reach $80 by the end of Q1 2023.


New Crypto Mining Platform - Bitcoin Minetrix


Bitcoin Minetrix
  • Audited By Coinsult
  • Decentralized, Secure Cloud Mining
  • Earn Free Bitcoin Daily
  • Native Token On Presale Now - BTCMTX
  • Staking Rewards - Over 50% APY
Bitcoin Minetrix



Join Our Telegram channel to stay up to date on breaking news coverage

Read next