Are you wondering if June is a great time to buy Compound? Or maybe, due to the uncertain future cryptocurrency faces, you are unsure if Compound is safe to invest in?
If you are a novice to the world of decentralized and Compound investing for that matter, you might be wondering if Compound is a good investment, or should I invest in COMP?
Well, the answer to those two trending questions is YES. Compound is likely a good investment and investing in Compound could bring huge returns in the short and long term.
Compound returned more than 35% at the end of 2021. The price history of COMP from its inception in September 2020 means that the cryptocurrency shows no signs of slowing down. The experts believe the COMP coin has plenty of room for growth. Most analysts based on their fundamental and technical analysis think investing in Compound is one of the smartest decisions for the long term. Therefore, now, where COMP is trading far less than its all-time high could be the right time to invest in Compound.
One of the biggest reasons to invest in Compound is its increasing Total Value Locked. According to CoinMarketCap, “Total value locked represents the number of assets that are currently being staked in a specific protocol.” This means that the total amount of an underlying supply that has been secured on Compound is growing substantially. With such huge sums, lender users can earn interests from COMPs obtained by users.
If the TVL increases substantially in the future, increased users could increase the price of Compound immensely. But that’s one of several reasons why investing in Compound could be profitable.
In this article, we will break all Compound-related myths circulating online and help you decide if you should consider investing in Compound.
If you want to invest in Compound easily and quickly, check out eToro!
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Contents:
- So, what is Compound? A Simple Explanation
- Is Compound A Good Investment?
- Should I Invest in Compound?
- Should I Invest in Bitcoin or Compound?
- How Much Could Compound Coin Be Worth?
- Is Investing in Compound Risky?
- Does Compound Have a Future?
- Who Should Include Compound In Their Portfolios?
- Conclusion: So, Is Compound a Good Investment?
- FAQs
So, What Is Compound? A Simple Explanation
Compound is an algorithmic money market protocol that runs on the blockchain of Ethereum. Compound is normally credited as the first decentralized finance application that started the craze associated with decentralized applications (DAPPS).
Compound can also be referred to as a protocol that enables users to rent and lend ERC20 tokens through a decentralized market. To put it simply, lenders deposit money into a pool and earn interest through borrowers.
Established by Robert Leshner and Geoffrey Hayes in 2017, Compound exists as three interdependent entities. Compound Labs, Inc. controls the consistent development of the protocol and cryptocurrency. Additionally, through social media platforms, short and long-form articles, they update users about potential upgrades on the protocol. Compound Network enables users through smart contracts to set up the lending and borrowing process. The Compound Governance Token (COMP) is the primary application that has the power to rehabilitate the council of the lending protocol through community governance. Holders of COMP can make suggestions, debate, and make suggestions without the central team behind the project. Aside from this, COMP allows holders to delegate voting rights in case they are unavailable to partake in the process.
The numerous functions of COMP have created an exciting ecosystem for lending and borrowing to take place. As the first platform to introduce yield farming in mid-2020, several analysts and experts think COMPs status as the first mover in DeFi applications may see it become the next $100 billion cryptocurrency by market capitalization. Others believe it may surpass BTCs price in the future.
Compound Investing: Getting Started
To start investing in Compound, you first need to register online with an exchange that will allow you to buy and invest in Compound. For starters, an exchange is an online trading platform that will enable you to buy and sell Compound as well as other cryptocurrencies. Since credibility and authenticity needs to be prioritized when personal finances are on the line, we would like to recommend eToro as the exchange of choice for your trading activities.
Kindly follow this short process and you would be on your way towards buying your first COMP coins.
SIGN UP by providing your full legal name, email & residential address as well as a phone number. Email address and phone number will be used as the first step in verifying your account.
VERIFICATION of ACCOUNT will be done through the uploading of government-issued identification cards that confirm your full legal name. The process normally works faster when the card has your signature embossed on it. Credit Card and Bank statements, as well as internet bills not more than 6 months, are also required as part of Proof of Address.
DEPOSIT FUNDS in the form of EUR, USD, and GBP. Through a range of options, you can upload funds. Without this process, you cannot purchase COMP.
NAVIGATE to COMP PAGE. On this page, you can purchase several COMP coins that meet your budget.
Note: Investing in cryptocurrencies is risky; invest an amount of money you can afford to lose.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Is Compound A Good Investment?
As Compound is the 88th largest digital platform due to a further drop in its price, many crypto experts sense a buying opportunity. This opportunity could cause an uptrend. This is the primary reason why analysts believe that Compound is a good investment compared to other DeFi coins. Despite the ups and downs in Compound’s history, analysts believe that Compound’s price could grow further in the long term.
One of the factors that will influence investing in COMP in 2022 is the rising popularity of decentralized finance applications. It is not easy having money in savings for a long period only to realize there hasn’t been any significant growth in your funds. Compound has created a platform where millions of users can deposit a portion of their savings and profit from the use of their money through interest rates. Aside from this, Compound benefits from the activities on Yearn Finance.
Yearn Finance is a yield optimizer that moves funds from its users around the DeFi ecosystem to find the pool that can generate a high return. Compound is one of the DAPPS that sees huge interest from Yearn Finance. Increased activity on the protocol can go a long way to impact the price of its novel token.
Aside from this, there is huge investor interest due to Compound forging strong partnerships during its inception of trading. United States cryptocurrency exchange Coinbase listed COMP in June 2020. Other top cryptocurrency exchanges followed suit. This has brought huge liquidity to the cryptocurrency which results in millions and billions of dollars in daily trading volume.
The rising popularity of DeFi and real-life investor interest has cautioned Digital Coin Price to weigh in on whether Compound is a good investment. According to the experts, COMP is a good investment in the short and long term. For the short term, the crypto news and prediction website foresees COMP trading at $156.21 by the end of 2022, $180.77 (2023) and, $197.82 (2024). In the long term, COMP could command prices of $275.61 (2025), $262.71 (2026), $336.97 (2027) and, $374.47 (2028).
With such a forecast under perspective, you can make huge gains in 2022 and beyond.
Don't Miss: Compound Price Predictions
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Should I Invest In Compound?
Why should I consider investing in Compound? Well, Compound is an innovative technology that can change the whole world. Specifically, Compound has introduced smart contracts that make it possible for people to lend and borrow without middlemen. Thanks to decentralized finance, Compound can revolutionize lending and borrowing globally.
Compound uses its protocol to allow Bitcoin to flirt with decentralized finance. Through Wrapped Bitcoin (BTC), long-term holders of the parent crypto can use the digital gold as collateral on the protocol.
The great news is that, unlike Dogecoin and thousands of cryptocurrencies on the market, COMP has a finite supply that is capped. This means scarcity could befall the governance token in the not-too-distant future. Scarcity will automatically see Compound trade for relatively higher prices than its trading for at the time of writing ($119.18).
Additionally, you should invest in Compound because the protocol allows other developers to build great products and add up to its vision. So far numerous systems have been built on the platform to help provide users with more options to choose from.
Whatever happens, several upgrades will be coming to the platform in 2022. Buying COMP and holding for the long term will result in gains.
Check Out: 10 Reasons Why You Should Invest In Compound (COMP) Today
Should I Invest In Bitcoin Or Compound?
Compound is a top 90 digital asset globally. There are many reasons to invest in Compound instead of Bitcoin. Compound provides secure passive income for users whose funds would otherwise lay idle. It is fully autonomous, extremely secure, at the forefront of yield farming, and also is highly interoperable. These features attract thousands of users worldwide to experiment with decentralized lending. Compound holds a first-mover advantage in DAPPS.
Bitcoin serves as a transactional currency as well as a store of value. Bitcoin is the most popular cryptocurrency and controls 41.65% of the market. Although such a figure looks great, it is a dip below the 55.7% market share it once enjoyed in March and April. Bitcoin is integrated with millions of merchants globally and sees huge activity through the use of digital currency to settle transactions. Evidently, in the last 24 hours, BTC has been involved in 208,492 transactions worth $7.21 billion. Bitcoin’s potential sees millions of users pour more liquidity into it daily. Bitcoin holds first-mover in cryptocurrency and blockchain technology.
Short Term: Bitcoin vs Compound
Based on the price forecast of FX Leaders on Bitcoin and Compound, you would be better placed to decide if you should invest in Compound or Bitcoin in the short term.
According to analyst Skerdian Meta, COMP could be trading for a coin at $200 - $375 by June ending and soar to new highs in the range of $275 - $650 by the year’s end of 2022. This means that by the end of 2022, there is a huge chance that investors could walk away with at least 445.39% returns.
According to analyst Skerdian Meta, Bitcoin could be trading for a coin at $70,000 − $85,000 by June ending and soar to new highs in the range of $120,000 - $150,000 to close out 2022. All other things being equal, investors could be walking away with at least 343.97% gains by the end of 2022.
The difference between BTC and COMP is clear as day and night. This means that in the short term, Bitcoin is likely a better investment than Compound.
Long Term: Bitcoin vs Compound
Based on the price forecast of Coin Price Forecast on Bitcoin and Compound, you would be in a better position to conclude if you should invest in Compound or Bitcoin in the long term.
According to the experts, COMP could have a trading price of $183 by the end of 2022 and command a price of $361 by the year’s end of 2027. If such projections are tested, there is a chance investors will make gains of 198% in the long term.
FX leaders foresee COMP tests the price range of $650 to $1,000 in the next 2 years. This is a 739.07% increase in price.
According to the experts at Coin Price Forecast, BTC could command a price of $52,300 by the end of 2022 and trade for a coin at $117,140 by the end of 2027. If such estimates are reached, BTC holders can see a return of at least 234%.
FX Leaders believe Bitcoin could reach $200,000 to $300,000 in the next 3 years. This is a 787.94% increase in BTCs price.
With the two price forecasts as the main thesis behind a conclusion of which of the assets is a good investment in the long term, we can deduce from the statistics provided that COMP is a better long-term investment than Bitcoin.
Will Compound ever Overtake Bitcoin?
Compound could overtake Bitcoin if millions of people are educated on the possibilities of decentralized finance. Cryptocurrency holders are less than 10% of the world’s population. This means that a great number of people trust centralized financial institutions with their hard-earned money. In the future, if people are continuously dissatisfied with the infinitesimal interest rates they receive on their savings, it could trigger the use of decentralized lending applications such as Compound and others.
Till that day, COMP will continue to trade for a fraction of Bitcoin. At the time of writing, COMP was trading at $382 and BTC ($61,897.12). COMP reached an all-time high of $911.20 on 12th May 2021. BTC reached an all-time high of $68,789.63 on 10th November 2021.
Despite the bullish forecasts by analysts and experts, as a trader and investor, you can see that the next milestone BTC has to reach is $70,000. Compound may reach $3,000 in the future but the next milestone it has to reach is $1,000 before other prices can be tested.
In the volatile world of cryptocurrencies where there is multiple percentage change in the price of assets in a short period, anything can happen. With that said, it is not impossible but it would be extremely difficult for COMP to overtake BTC. This is because BTC is a store of value and with reserve risk analysis in mind, long-term investors of the digital gold are holding on to their coins. This certifies BTC as an attractive investment that may overtake gold’s market value and attain the $1 million price milestone someday.
To put it simply, COMP will not overtake Bitcoin in the short and long term.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
How Much Could Compound Coin Be Worth?
As one of the trending questions online, it is important to know how much Compound could be worth to help you decide on the cryptocurrency. With highly bullish and conservative projections made by analysts and experts, COMP is likely one of the digital assets that could brighten the portfolio of several traders and investors. How Much Will Compound Be Worth in 2023, 2024, and in the long term?
Analyst Elena R at CoinPedia forecast Compound to command a price in the range of $3,000 to $3,500 mark in the future.
Digital Coin Price estimates COMP may reach prices of $180.77 (2023), $197.82 (2024) for the short term. The crypto news and predictions website foresees COMP trade at $262.71 (2026), $336.97 (2027) and $374.47 (2028) for the long term.
Coin Price Forecast predicts Compound to reach $451 by June and increase to $532 to close out 2023. Other milestones COMP is likely to trade for are $691 (2024), $894 (2027), $849 (2028), $944 (2029), $978 (2031) and $910 by the end of 2032.
Trading Beasts thinks Compound will have an average trading price of $271.16 by the year’s end of 2023. Trading Beasts adds that Compound could command prices of $339.09 by the end of 2024.
According to Wallet Investor, Compound will drop in the upcoming years. The novel token of the decentralized lending platform could trade for a coin at $8.33 by the end of 2023. Wallet Investor thinks COMP could have a trading price of $6.13 by the close of 2024. The technical analysis portal foresees COMP trade for a coin at $0.74 by the year’s end of 2026.
According to the Economy Forecast Agency, also known as Long Forecast, COMP could reach prices of $98 (2023) and $140 (2024).
What Will Compound Be Worth in 2022?
Analyst Elena R at CoinPedia estimates COMP could trade for a coin in the range of $1,800 to $2,200 by the end of 2022.
According to analysts at Digital Coin Price, at the end of 2022, Compound could have a trading price of $156.21.
Experts at Coin Price Forecast projects COMP to reach $205 by June ending and $183 by the year’s end of 2022.
According to analyst Jesus Cedeno at Crypto Coin Society, COMP may see huge investor interest in the future which will take the cryptocurrency near its all-time high and settle at $982.19.
COMP will trade for $150.58 by the end of 2022 is the forecast of Trading Beasts.
According to Wallet Investor, Compound will maintain consistency in bearishness and trade for a coin at an average price of $16.64 by the end of 2022.
According to experts at the Long Forecast, COMP could trade at $51 by the end of 2022.
What Will Compound Be Worth in 2025?
Analysts at Digital Coin Price believe the rising popularity of decentralized finance could see Compound COMP trade for a coin at $275.61 by the end of 2025.
Analysts at Coin Price Forecast think users of decentralized lending will increase significantly in the future and this will see Compound COMP trade at $256 by mid-June and $285 by the end of 2025.
Jesus Cedeno at Crypto Coin Society estimates COMP to reach a price of $1,503.21 by the end of 2025.
Wallet Investor predicts the Compound token that powers the decentralized lending platform to reach an average price of $2.25 in 2025.
The Long Forecast estimates COMP to have a trading price of $82 by 31st December 2025 based on positive crypto market sentiment.
What Will Compound Be With by 2030?
According to Coin Price Forecast, by June ending, Compound COMP could trade for $361 and $379 by the end of 2030.
Read More: Compound Price Prediction for 2025 and 2030
Will Compound Go Down in 2022?
Compound could not go down in 2022. Compound is to decentralized applications what Ethereum is to decentralized finance and Bitcoin is to blockchain technology and cryptography. Compound is among the top-performing DAPPS.
Aside from this, it is among the top-performing decentralized lending applications since the launch of its mainnet in 2018. If you want to know the future of a digital asset, you must find investor interest. Fortunately, Trading Education will like to alert you as to the importance of trading volume.
Volume plays a great role in technical and fundamental analysis. It helps traders select assets for their portfolio due to the activity such assets see daily. From 1st January 2021 to the time of writing, COMP averages at least $100 million in daily volumes. This should tell you that investors have confidence in the future performance of the cryptocurrency. If trading volumes of COMP drop below $5 million, then there could be a signal of COMP going down. Fortunately, despite the new lows experienced in May, Compound is recovering well. It commands a relatively higher price when compared to other cryptocurrencies.
With more users, partnerships, exchange listings, and major investments from institutional investors in the future, COMP will continue to soar.
To conclude, analysts and experts across credible forecasting websites predict COMP to trade for at least $180 before the end of the year. This means COMP is not going down anytime soon.
But is 2022 Too Late to Buy Compound?
NO! It is not too late to buy Compound. 2022 is the right time to buy COMP. After the market lows that started in December 2021, an uptrend may follow soon. Uptrend is defined as a gradual increase in the price or value of something. According to Cory Mitchell of Investopedia, “An uptrend describes the price movement of a financial asset when the overall direction is upward.” Having lost 86.81% of its all-time high, COMP has become relatively cheaper than other DeFi coins and mainstream cryptocurrencies. With the prediction of analysts who have conducted fundamental and technical analysis in mind, it is not late to buy Compound. This is because you stand a chance of doubling your investment before the end of 2021.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Is Investing In Compound Risky?
YES! Investing in Compound is highly risky. No crypto trading asset breeds certainties. Unfortunately, they all thrive on possibilities. Investing in cryptocurrencies, on the whole, is risky. On 12th May 2021 when COMP crossed the $900 milestone, it looked like it was about to explode and become a millionaire-maker for thousands of investors.
The next two weeks of May saw Bitcoin and other cryptocurrencies plummet to new lows. This erased gains made by then and to investors who purchased COMP above the lows it reached, massive losses ensued.
This is the primary reason why Trading Education as an e-learning organization will advise you to invest a sum of money you can write off as bad debt. The current volatility rate of COMP is relatively higher than Bitcoin. This should alert you as to the multiple price swings the cryptocurrency is experiencing.
Taking your eyes of COMP for a few days to a week could see percentages in red written next to COMPs trading price. To put it simply, no one knows the future valuation of COMP and the potential risks that could accompany irrecoverable losses.
Could Compound Be a Bad Investment?
YES! Compound could become a bad investment. Millions of people want to get into crypto. At Trading Education, thousands of people contact us to get to know the future of digital assets and whether it could be a lucrative investment. Most of their clientele normally opine that social media feeds are filled with bots that provide the pros of investing in cryptocurrencies such as COMP.
Since the posts are from hedge fund managers or options traders, they leave out the cons associated with investing in Compound and others that could see you lose your savings. This is the main reason why we have provided an extensive study on Compound but advise you to conduct independent research to be able to conclude as to whether you should take an investment decision on the digital asset.
Gary Gensler is the new chair of the Securities and Exchange Commission of the United States. He has pointed out that the only way to protect private citizens from incurring huge losses is to introduce some form of regulation to the decentralized finance market. If this should happen, COMP may not go extinct but it could lead to huge losses which may take years to recover.
Risk Alert! Cryptocurrency investments are highly risky, invest in COMP an amount of money that will not impact your finances in any way.
Does Compound Have A Future?
YES! Compound does have a future. If anything, Compound is only going to get better from the innovative service it provides its users. There are no crypto analysts, decentralized finance experts, or blockchain enthusiasts who can say Compound will not last for the next 10 years.
There are essential risks or cons such as competition from other decentralized lending platforms which can take users away from Compound. With that said, COMP is highly interoperable and allows other developers to take advantage of its protocol to build other high-yielding systems for its users of the protocol.
Some of these systems include but are not limited to crypto wallets equipped with annual percentage returns (APRs) savings, a no-loss lottery system, and an interest-earning system for donation income. The future of COMP can also be accessed through investor interest. Its trade volume and market capitalization ($2 billion) confirms COMP as a mid-cap digital asset that has a foundation that can see it cross $10 billion and become a large-cap cryptocurrency. With the price forecasts of experts and analysts projecting COMP to trade for more than 300% of its current price in the long term, Compound has a future.
How Safe is Compound?
Compound is very safe. Compound runs on the network of Ethereum. This means it is an ERC20 token that scales like Ether and other DeFi tokens. Since Ethereum modeled itself after Bitcoin, hackers can’t break in since more than 51% of computational power must be controlled by them.
Aside from this, Compound has the necessary codes and encryptions to ensure the safety of the protocol. Reputational technology companies Trail of Bits and Open Zeppelin have conducted a thorough assessment of the protocol and confirmed it’s capable of handling the enormous demand that the network will be subject to.
If you want to use Compound to earn interest or invest in COMP, you can be assured that it is among the most secured decentralized finance applications on the market.
Don't Miss: Could Compound Be A Millionaire-Maker Coin?
Who Should Include Compound In Their Portfolios?
- Day Traders: Compound is one of the popular DeFi coins on the market. In May, sophisticated day traders and investors must have made a fortune due to the sharp declines in the price of all cryptocurrencies. Having COMP as one of the digital assets in a portfolio and an understanding of how multiple percentages work, day traders could make impressive gains on their investments.
- Cryptocurrency Traders: Most cryptocurrency traders have mainstream cryptocurrencies in their portfolios (BTC, ETH, ADA, and EOS). COMP provides the same opportunities as these currencies and may be the missing asset that could transform break-even portfolios into winning ones.
- Blockchain Enthusiasts: Such people research the possibilities of different blockchains in the saturated decentralized finance market. They can read more about the protocol and find out its potential in the market. This can embolden the enthusiast to take several investment decisions on COMP.
How Legit is Compound?
Compound is extremely legit. The protocol is trusted by millions of people and the novel token, Compound (COMP), trades on all the top cryptocurrency exchanges worldwide. For Coinbase Pro, eToro, Binance, Huobi Global, and OKEx to list a token on their platform, means all areas of business of the digital asset have been assessed.
Compound has been trading since June 2020 and has so far gained consistent daily trading volumes that reflect its price and market capitalization. If you have read negative reviews about cryptocurrencies which have made you afraid of investing in Compound, you can try eToro. eToro has served millions of customers and has never been embroiled in any scams or shady deals.
Alternatives to Compound
If you want to try and hustle some of your savings, COMP is not the only novel token that thrives on a decentralized lending platform. There are other top DeFi lending tokens such as Aave, Maker, Mainframe, Dharma Protocol, InstaDApp, dYdX, bZx, and KittieFight.
Aside from this, DeFi coins such as Uniswap, PancakeSwap, Sushiswap, and Yearn Finance have experienced great returns in 2021 and are awesome investment instruments. Moreover, mainstream cryptocurrencies such as Bitcoin, Ether, Cardano, Tronix, EOS, Binance Coin, and DOT command significant trading volumes that could add great yield to your portfolio of investments. It wouldn’t be a bad idea if you could spread your digital investments across different assets. The huge gains of one could make up for the losses of another.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Conclusion: So, Is Compound A Good Investment?
YES! Investing in COMP is worth considering. For thousands of investors, investing in Compound has proven to be one of the greatest decisions they have ever taken.
On 1st October 2020, COMP was worth $133.79. By May 2021, it had reached $911.20. In four years, the value of COMP has gone up 7 times.
Suppose you invested $100,000 into Compound back in October 2020 and sold it at the right time on 12th May 2021, your investment would have grown to $700,000.
So, is Compound a good investment? At the moment, Compound is considered a good investment. If you are looking forward to taking an investment decision on it, now could probably be the perfect time to do so. This is due to huge exposure of the cryptocurrency to millions of people through new exchange listings, increased usage of COMP due to extensive global decentralized finance education, and continuous upgrades to the protocol.
While no investment is risk-free, investing in Compound generated more than 35% by the end of last year. Whether you are new to Compound investing or just curious about how to make the most of your investment, understanding what to know before investing in Compound is critical.
The prediction below outlines the potential lows and highs of Compound in 2022, 2023, 2024, 2025, and 2026 offered by experts at Gov. Capital.
Compound Price Predictions in 2022-2026
| Year | Low | High |
|---|---|---|
| 2022 | $244.29 | $580.43 |
| 2023 | $303.06 | $1,900.38 |
| 2024 | $1,275.23 | $3,616.90 |
| 2025 | $2,538.46 | $5,502.07 |
| 2026 | $4,034.26 | $7,873.50 |
In the end, the final decision as to whether you should invest in Compound or not depends on you. What kind of investor are you? Find an answer to that question and you will know if Compound is a good investment.
If you are feeling inspired to start investing in Compound, you may be pleased to know that eToro provides the ability to trade with crypto assets and CFDs on up to 90+ cryptocurrencies.
eToro – The Best Platform To Buy Compound
eToro have proven themselves trustworthy within the Crypto industry over many years – we recommend you try them out.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
FAQs
Could Compound Be A Millionaire Maker?
YES! Compound can make you a millionaire if you buy and hold for the long term. Buying 1 or 2 COMP coins is not going to make you a millionaire. You must do a thorough fundamental analysis and read technical analysis online to be able to understand the price patterns of COMP in the future.
Once done, you can set up an amount of money that can buy a significant amount of COMP. Once you are done, you then select from a list of predictions, one you believe could be tested by the digital asset in the future. After that, you can buy COMP and sell once your millionaire-maker status has been reached.
Can Compound Make You Rich?
YES! Compound can make you rich but it would take time. Compound was trading in the $100s in June, July, September, and October 2020.
By May 2021, it was worth more than $500. Investors who held COMP for more than 6 months from its time when it was trading for a coin at $100 became rich through COMP and so can you. Buy an amount of COMP you can afford to lose due to the risk associated with the use of cryptocurrencies and hold for certain price milestones to be reached. Once those milestones are crossed, COMP could see you become a rich person.
Will Compound Coin Rise?
YES! Compound will likely continue to rise. Compound is backed by world-class investors. These investors will not support a project that does not have any potential in the market. Coinbase, Paradigm, Dragonfly Capital, Polychain Capital and a16z continuously support the development of the protocol and novel token. Compound will be scarcity-bound in the future. All tokens will be picked up and the laws of demand and supply will see COMP rise to new all-time highs.