Compound Price Prediction

Last Updated January 28th 2023
15 Min Read

Take a look at the current price trends to explore the Compound price prediction in 2023 and beyond

Are you looking for the recent Compound price prediction & forecast? You’re in the right place. We’ll be exploring what the experts have to say about Compound's future performance to answer the question ‘Will COMP go up in the future?'.

Below you'll get to find some expert opinions on the Compound price prediction and where the market sees the crypto going in the next few years.

Trading Education Compound Price Predictions for 2023-2030

Listed below are forecasts on the Compound price for the foreseeable future. we discuss the following:

  • End of 2023: Calming concerns over the security of the Compound protocol in 2023 will take COMP price prediction to a high of $65.
  • End of 2025: A ballooning DeFi sector will flush Compound with investment in 2025, leading to a high of $278.77.
  • End of 2030: Becoming the most well-known crypto lending platform by 2030 will see long-term Compound price prediction climb over to a record $497.47.

Compound Overview

Compound (COMP) is another DeFi service that exploded in 2021 along with much of the crypto market. But as we move further into 2023, what is Compound expected to reach? Before we give away our COMP predictions for the rest of the decade, let’s sum up its unique features.

COMP Overview

Cryptocurrency Compound
Ticker Symbol COMP
Rank 96
Price $54.90
Price Change 24h 2.86%
Price Change 7d 4.51%
Market cap $398,942,828.45
Circulating Supply 7,267,151.999
Trading Volume $60,859,739.45

 

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COMP — The First DeFi Lending Service

Described as a DeFi (decentralised financial) lending protocol, Compound was originally built on the Ethereum (ETH) network, making it an ERC-20 token.

The ‘COMP’ token is the platform’s native cryptocurrency. You cannot mine the token — you must receive it from the Compound development team, which distributes 2,880 COMP tokens amongst the total pool of protocol users every day. The total number of COMP tokens has been capped at 10,000,000.

Some of Compound’s rivals include:

What’s The Point Of Compound?

Compound was created to allow users to borrow and lend cryptocurrency, without having to go through an intermediary. When a lender decides to lend their crypto to a borrower, by adding their assets to a joint liquidity pool, they receive interest in the form of new COMP tokens. (Liquidity pools use a series of smart contracts to match borrowers with an available loan.) To borrow money, a borrower must stake a certain amount as collateral.

So far, the Compound platform supports the lending and borrowing of the following cryptocurrencies:

  • Ethereum (ETH)
  • Basic Attention Token (BAT)
  • Wrapped Bitcoin (WBTC)
  • 0x (ZRX)
  • Uniswap (UNI)
  • Chainlink (LINK)
  • Maker (MKR)
  • yearn.finance (YFI)
  • SushiSwap (SUSHI)

And several stablecoins tied to the US dollar. 

Who Is Behind Compound?

Compound first came to the market in June 2020 three years after Compound Labs was founded in 2017 by Robert Lesner and Geoffrey Hayes. Today, while both hold senior positions in Compound Labs, control of how Compound is developed is increasingly in the hands of the protocol’s governance.

Some investors have gone as far as to say that Compound kickstarted the current preoccupation with DeFi protocols, partly because it was the first crypto to introduce the practice of yield farming.

What Is Compound Used For?

Yield farming is the term used to describe the lending or staking of crypto assets. The aim of this is usually to gain rewards, for example, high returns of additional cryptocurrency tokens. It’s sometimes also known as liquidity mining.

COMP also functions as a governance token. Users with more than 100,000 COMP can propose changes to the protocol, while any user can vote on potential changes.

Who Uses Compound?

In total, there are slightly less than 200,000 Compound addresses with 10,698 reported on the Binance Smart Chain, 1,295 on the Gnosis Chain, and a maximum of 188,946 on the Ethereum blockchain.

Read Also: How To Buy Compound (COMP) - Beginner's Guide

Technical Analysis Of Compound’s (COMP) Price Movements

Compound was initially sold at 1 COMP to $34 in its ICO (initial coin offering) in June 2020. CoinMarketCap started to track the price of COMP on the 17th of June 2020 at $64.64. The next day, on the 18th of June 2020, COMP recorded its lowest price (post-ICO) of $61.27.

Compound price prediction in 2021 started the year at $145.39, hit an all-time high of $911.20 on the 12th of May, and ended the year at $200.29. COMP has a 52-week low of $94.13.

After starting at $200 in 2022 Compound price followed the overall crypto market bearish movement, gradually dropping to close the year at $30.68.

Compound COMP/USD Chart

Compound price chart

 

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Expert’s Take On Compound Price Predictions

WalletInvestor has given a negative prediction and Trading Beasts appears to be unsure of Compound’s prospects, but on the whole, forecasters across the web are positive about the price of Compound.

 

Compound price will hit $50 by the middle of 2023 and then $75 by the end of 2025. Compound will rise to $100 within the year of 2030.

Coin Price Forecast

 

Compound is forecasted to hit $51.838 by the end of 2023. The expected average COMP price for 2023 is $49.347, which is a 8.43% increase in value from the current price. The maximum predicted price for 2023 is $64.798 which is forecasted to be reached in December 2023.

Trading Beasts

 

According to our current Compound price prediction, the value of Compound will increased by 215.83%, reaching $163.36 by end of 2025.

DigitalCoinPrice

 

The price of 1 Compound is expected to reach at a minimum level of $95.59 in 2024. The COMP price can reach a maximum level of $118.91 with the average price of $98.38 throughout 2024.

Price Prediction

 

The price of Compound Coin (COMP) in 2025 will be about $422.0247. As per the forecast and algorithmic analysis, the the price of 1 Compound Coin (COMP) will be around $874.2345 in 2028.

CryptoGround

 

The price of Compound is predicted to reach at a minimum level of $101.48 in 2025. The Compound price can reach a maximum level of $120.32 with the average price of $105.03 throughout 2025.

ICOcreed

 

The system forecasts a +6% move from $47.89 to $50.82 over the next month, Compound has a price prediction of $58.84 in over a years time.

Coinskid

 

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Compound (COMP) Price Prediction: 2023-2030

According to our detailed Compound price prediction, Compound will reach $65 by the end of 2023 and $110.97 by the end of 2025. Compound price forecast will then rise to $278.77 in 2028, and $497.47 in 2030.

To make the most accurate Compound price predictions for the short-term and long-term, we have considered several key factors.

As one of the founding fathers of the DeFi sector, Compound is well-placed to take advantage of the market. DeFi is the idea that people should be able to access financial services that aren’t governed by big banks or businesses.

Though the idea of DeFi has been around for a while, the demand for DeFi services grew rapidly midway through 2020. Not only does this mean that more people are likely to turn to decentralised offerings such as Compound; because COMP acts as a DeFi lending protocol, but it can also cash in on the demand for other DeFi assets.

Anyone who holds the assets that Compound supports (there are currently nine of them) can use the protocol. As a result, COMP can market its service to a large number of existing investors. As the DeFi sector continues to grow and people look for alternative borrowing and lending solutions, Compound is likely to see more traffic. This will increase the demand for COMP tokens and, consequently, its price.

Another key factor that can influence the price of COMP is the level of confidence in the crypto market. Although the prices of different crypto assets can vary wildly, the market tends to move as a whole: when Bitcoin (BTC) rises, everything rises. When Bitcoin falls, most other digital assets crash too.

Elon Musk’s comments about the catastrophic environmental impact of Bitcoin made waves throughout the market, sending the price of COMP crashing from over $900 to under $300.

But could the correlation weaken in the future? Because COMP tokens can’t be mined, the protocol doesn’t use quite as much energy as Bitcoin and is, therefore, more environmentally friendly. Although it’s clear that changes need to be made to ensure the sustainability of cryptocurrency, third-generation cryptos such as Compound might be better designed to weather this storm in the long run.

The main reason Compound has lost so much value following the 2021 bull run is because of a major bug that was discovered after an upgrade. As Shraddha Sharma of AMBCrypto reported back in October 2021, after the execution of ‘Proposal 062’, up to 490,000 COMP was at risk of being lost, worth approximately $80 million at the time.

While Bitcoin and other cryptos experienced new ATHs in November 2021, investors were fleeing Compound. It will take some time for Compound to re-earn the trust of investors and this incident is likely why some forecasters, such as WalletInvestor, are bearish on COMP.

To sum up, with the current factors in play, Compound can be considered a top short-term investment (one year) or long-term investment (five to 10 years). Here are our Compound price predictions for 2023 to 2030.

Compound Price Prediction 2023

2023 will see Compound encourage more DeFi applications to launch on its platform by investing in them via its treasury. Our COMP prediction for 2023 determined that a high of $65 is achievable. The low estimate for 2023 is $42 and Compound can close the year at an average price of $53.5.

Compound Price Prediction 2024

Further technical improvements in 2024 will make Compound more appealing to less technically minded users, boosting its user base. A further increase in the price of COMP/USD will see the asset attain an average of $72.20 and bullish momentum can carry the asset to a high of $86.54. A low of $57.87 is expected towards the beginning of the year.

Compound Price Prediction 2025

2025 will see the DeFi sector and lending sector continue to expand, dragging the price of Compound up with it. Long-term price predictions for Compound anticipate a top target of $110.97, a low target of $68.11, and an end of year average of $89.54 for 2025. This average would equate to an 85% increase since 2023.

Compound Price Prediction 2026

By 2026 Compound will offer an immense variety of different coins to borrow and lend. Our COMP prediction data indicates a maximum price of $154.44 and a minimum price of $109.56 in 2026. Our Compound price prediction has determined an average price of $132 for the year.

Compound Price Prediction 2027

Focusing on interoperability, Compound will extend its services to a wide variety of other chains by 2027. Our Compound price prediction forecasts that COMP/USD can accomplish a high of $217.90 and hold strong with a low of $145.16. COMP predictions state that it will attain a yearly average of $181.53.

Compound Price Prediction 2028

Innovating new DeFi lending products by 2028 will see a further acceleration in the price of COMP. Compound will achieve an average price of $230.25 in 2028. Our 2028 Compound price prediction also foresees a max of $278.77 and a min of $181.73.

Compound Price Prediction 2029

Expect crypto and DeFi regulatory clarity to be a big boost to Compound in 2029. Forming a level of support around a low of $267.58, our Compound price prediction anticipates a high of $392.57, an average of $330.07.

Compound Price Prediction 2030

Beating its competition to the top, in 2030 Compound will be the most popular crypto-lending platform. Our long-term Compound price prediction has calculated that a 935% increase could take place by 2030, taking COMP/USD to an all-time high of $497.47. For the rest of 2030, Comp is predicted to have a low of $466.65 and end the 2020s at an average of $482.06.

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Compound Price Forecast: What Could It Be Worth?

Our long-term Compound price prediction for 2023 to 2030 puts COMP on track to hitting several new highs in the next few years that will delight investors. But with that in mind, there will always be unknown factors that could crash the price of COMP/USD in the blink of an eye.

The first key concern investors should scrutinise is Compound’s security issues. In the meantime, they appear to be dealt with, but if we see another security breach any time soon, it could demolish the value of COMP.

Next up is competition in the DeFi sphere of the crypto market. There are now many well-known lending protocols operating in this highly competitive sector. And again, security issues could be a factor here — users would be quick to drop Compound for another service.

Lastly, we cannot ignore the threat of regulation. While the entire crypto market is vulnerable to how regulators pursue crypto, Compound, and other DeFi protocols are more at risk because of the lending factor.

What Will Happen To The Price Of Compound (COMP) In 2023?

For Compound, 2023 will be a year of regaining users’ trust. Because of this, Compound will struggle to retest its 2022 high, but it will trade at a higher price than at the beginning of 2023, hitting $65 by the end of the year.

Will Compound Go Up In 2023?

Yes, Compound will rise in value in during 2023. COMP/USD is predicted to hit $65 in 2023.

What Will Happen To The Price Of Compound (COMP) In 2025?

The price of Compound will outperform previous years by 2025, refusing to decline below $68.11 and matching an average of $89.54. This is a large increase compared to previous years.

Will Compound Go Up In 2025?

A new all-time high of $110.97 is predicted for the price of Compound by 2025, as per our Compound price prediction, strongly suggesting the price will go up.

Will Compound Hit $1,000?

Yes, Compound COMP/USD pair could reach $1000 by 2030, according to Price Prediction. ICOcreed expects this to be a reality by 2031.

Will Compound (COMP) Reach $10,000?

For the time being, no, Compound cannot reach $10,000 per coin. Investors will need to be very patient for COMP to reach this level. For now, Price Prediction suggests that Compound could reach $2,459.60 by 2032.

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FAQs

Is Compound Crypto Safe?

Yes, Compound is largely considered safe. In early October 2021, it was revealed that a bug had put up to $80 million worth of COMP tokens at risk. However, since the execution of Proposal 064, called the ‘Fix COMP Accrual Bug’, this issue is believed to be patched up.

Compound is also considered safe because of how popular it is in the crypto community and because it is secured by the Ethereum network. While no crypto will ever be considered completely safe, COMP is safer than most.

How Does Compound Make Money?

Users can make money from the Compound platform by lending their crypto to others and receiving interest on their loans.

How Does COMP Coin Work?

When lenders deposit crypto to be borrowed, they receive a cToken, for example, ‘cETH’ if they deposit Ethereum, which they can use to withdraw their crypto at any time. When users interact with Compound — borrowing or repaying a loan — they can be rewarded with COMP tokens.

Why Is Compound Going Up?

The price of Compound went up dramatically last year because of the growing DeFi market, of which Compound is considered a leader, and because of Bitcoin’s bullish sentiment. These two factors are the most influential in the price of Compound.

Is Compound A Good Investment?

Though only on the market since July 2020, Compound has proven time and time again that it is a good investment. So far, it has achieved an ROI of 42.63% and increased 136.72% since hitting its all-time low.

Will Compound Rise?

Our Compound price prediction model has shown that COMP/USD will go up in prices. Though it will struggle to beat its previous high until 2030, from this point onwards higher highs are predicted.

What Price Could Compound Reach?

In five years, by 2028, Compound could reach a top price of $278.77 according to our Compound price prediction.

What Is Compound’s Price Prediction For The Next Bull Run?

Upon closer inspection of our COMP prediction, it appears most likely that the next bull run could take place towards the end of the decade. Between 2028 and 2030, the largest increase in the price of Compound is expected to take place, taking COMP from a low of $181.73 to a high of $497.47 per coin.

Read More:

Should You Buy Compound?

Could Compound Be A Millionaire-Maker Coin?

10 Reasons Why You Should Invest In Compound Today

Pros and Cons of Investing in Compound

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