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Compound (COMP) Surges Above 65% in the Past Week

Published 07/05/2021, 11:30 AM
Compound (COMP) Surges Above 65% in the Past Week

  • Compound (COMP) has surged over 65% in the last week.
  • In comparison, DeFi has only risen by about 9%.
  • Also, Compound Labs launched Compound Treasury aimed at non-crypto businesses.

DeFi protocol Compound (COMP) has surged over 65% in the last week. Based on CoinGecko data, COMP is currently up 73% and trading at $433.21.

In addition, COMP has a 24 hour trading volume of $416,966,950 and $2,358,055,856 market cap. At the same time, the DeFi market is up only 9% over the same period. In addition, the DeFi market cap is $72,822,322,548 with a total value locked (TVL) of $94,812,201,647.

Notably, decentralized finance (DeFi) refers to financial providers that have no central intermediaries and are built on top of blockchains. In turn, Compound is a DeFi platform that supports crypto liquidity pools. The pools allow crypto holders to earn interest on their crypto holdings instead of just holding them in stasis.

This article was first published on coinquora.com

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