Friday, May 27, 2022

Spike in DeFi lending pushes Compound (COMP) price to a new high at $570 By Cointelegraph

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Spike in DeFi lending pushes Compound (COMP) value to a brand new excessive at $570

As and quite a few altcoins surge towards new all-time highs, merchants who’re coin wealthy however money poor are more and more flocking to decentralized finance lending platforms the place they will collatoralize their holdings to boost funds for brand spanking new investments.

Compound is without doubt one of the main DeFi lending platforms and over the previous month its TVL and governance token value has rallied to new highs.

Complete worth locked in Compound. Supply: Defi Llama
COMP/USDT 4-hour chart. Supply: TradingView