A mad overnight rally in the Compound (COMP) market resulted in a vast correction this Thursday. The popular decentralized finance token plunged by more than 25 percent from its year-to-date high at $268.63. The massive intraday plunge appeared majorly because of profit-taking behavior among daytraders. The Compound chart on TradingView.com shows COMPUSD plunging 15% in…
Top decentralized finance (DeFi) coins are sliding lower despite strength in the Ethereum price. Data from Uniswap indicates that against the U.S. dollar, coins such as UNI, Compound’s COMP, and Yearn.finance’s YFI, have slid lower by 1-5% in the past 24 hours. This slight move lower in the price action of these coins adds to…
Compound (COMP) has been embroiled in a strong uptrend over the past day as decentralized finance continues to gain steam. According to Coin Market Cap data, the cryptocurrency has gained 15% against the U.S. dollar in the past 24 hours. For context, both Bitcoin and Ethereum have both gained approximately 2.5% over that same time…
Multiple decentralized finance (DeFi) focused cryptocurrencies have seen parabolic performances in the past few days. This comes in spite of the fact that Bitcoin finally broke out on Monday morning, surging from the $11,700 it was holding at to $12,100 in a rapid rally. Analysts expect this interest in coins like Band Protocol (BAND), Balancer…
The Compound Finance (COMP) treasury has been drained of $25 million in a recent governance attack, raising alarms about the state of decentralized governance in the decentralized finance (DeFi) ecosystem. Compound DAO Hijacked According to researcher DeFi Ignas, the attack began with an initial proposal to grant 92,000 COMP tokens, submitted without prior discussion on…
Following Bitcoin, Ethereum, and other top cryptos lower, Compound (COMP) has shed 9% in the past 24 hours., the asset now trades at $180, lows not seen in over a week. COMP’s -9% performance in the past 24 hours makes it one of the worst-performing digital assets of that time frame. For context, Bitcoin and…
Top coins in the decentralized finance (DeFi) space such as Uniswap’s UNI and AAVE have slipped lower even as Bitcoin inches higher. Most top DeFi coins have dropped approximately five percent in the past 24 hours as per CoinGecko while Bitcoin has gained over 2%. The leading cryptocurrency briefly traded above the pivotal $14,000 resistance…
It’s been a tough past few days for the crypto market. Bitcoin and Ethereum are both down by approximately 5% in the past 24 hours, plunging as gold and the U.S. equities market drop in a fashion not seen in many weeks. There are some cryptocurrencies that are holding strong, though. One of these is…
One of the crypto market’s hottest DeFi tokens, Compound (COMP) has gone on an over 20% intraday rally. Meanwhile, the rest of the market is seeing red due to overall Bitcoin weakness.What’s causing Compound to stand out and surge while the rest of the crypto market tanks?Compound Becomes Breakout Superstar in Already Red Hot DeFi…
Compound’s price has been caught within an intense consolidation phase throughout the past week, with COMP oscillating primarily between $190 and $220. The cryptocurrency has been struggling to garner any clear momentum, with the crypto’s intense upswing seen earlier this month starting to show some signs of faltering. Despite this, analysts remain confident that COMP…