Compound (COMP) currently has a price of $51.83 and is up 1.26% over the last 24 hours. The cryptocurrency is ranked 143 with a market cap of $354.9M. Over the last 24 hours, it saw $41.2M of trading volume. The token has a circulating supply of 6.9M tokens out of a total supply of 10M tokens.
Compound (COMP) is a decentralized lending protocol on the Ethereum blockchain that offers users the opportunity to earn interest on their cryptocurrency holdings through lending or borrowing. It operates on algorithmically determined interest rates that adjust according to supply and demand dynamics. With the governance token COMP, holders can propose and vote on changes to the protocol, fostering a sense of community ownership and decentralized decision-making. Additionally, Compound supports a wide range of cryptocurrencies, enabling users to diversify and utilize multiple tokens within the platform.
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