Compound is an interest-providing protocol that functions by pooling assets together and determining their interest rates according to market trends. Users can earn a passive income by lending their tokens and borrowers can get tokens at a much lower rate than the actual price.
The compound is literally a liquidity pool where lenders and borrowers can make transactions and earn interest through COMP tokens.
The Main Benefits of Investing in COMP Protocol are as Follows:
- Anyone can borrow COMP tokens without much background or security check. The protocol is easy to use in that aspect.
- COMP provides a source of income to its users. They do not have to wait to sell the tokens; they can earn by just borrowing them.
- COMP is a network of audited smart contracts that preserves the autonomous status of the protocol. No external parties can interfere in its working.
- COMP is a secure protocol with strict coding that cannot be duplicated.
- COMP network is open to interoperability. Users can easily integrate third-party applications into the network in a hassle-free manner.
What Is COMP Token?
COMP is the native token of the Compound protocol. It is an ERC-20-compatible token. It empowers its users to become decision-makers on the platform. In order to vote for or propose any changes, users should own and stake a certain amount of tokens.
The key figures regarding the current market performance of COMP is given below:
Current Market Price: $57.14
Market Capitalization: $392,340,695
Fully Diluted Valuation: $572,251,732
24 Hour Trading Volume: $43,034,918
Circulating Supply: 6,856,085
Total Supply: 10,000,000
Max Supply: 10,000,000
Compound (COMP) Price Prediction (2024-2030): What Are Its Short And Long-Term Prospects?
The current market price of COMP is $57.14. Based on the token’s current market positions and the present market trends, the price prediction of COMP for the years 2024, 2025, 2026, 2027, 2028, 2029, and 2030 is given below.
| Year | Low Price | High Price |
| 2024 | $56.45 | $266.27 |
| 2025 | $56.45 | $266.27 |
| 2026 | $47.11 | $149.64 |
| 2027 | $51.63 | $105.64 |
| 2028 | $76.18 | $179.56 |
| 2029 | $143.67 | $357.71 |
| 2030 | $141.80 | $229.92 |
The price of COMP is expected to rise by 363.13% in 2025 and 300.76% in 2030.
The following table about COMP price prediction for May-December 2024 gives you an idea about its short-term prospects.
| Year | Low Price | Average Price | High Price |
| May 2024 | $64.13 | $68.96 | $73.78 |
| June 2024 | $62.93 | $67.66 | $72.40 |
| July 2024 | $63.58 | $68.37 | $73.15 |
| August 2024 | $64.23 | $69.07 | $73.90 |
| September 2024 | $64.89 | $69.77 | $74.66 |
| October 2024 | $65.54 | $70.47 | $75.41 |
| November 2024 | $66.19 | $71.18 | $76.16 |
| December 2024 | $66.85 | $71.88 | $76.91 |
The technical analysis indicators predict bearish sentiments with 13 indicators showing bearish sentiments and 12 indicators showing bullish sentiments. COMP shows 56% bearish sentiments.
The 50-day SMA and the 200-day SMA of COMP are $66.23 and $58.93.
Where And How To Buy COMP Tokens?
The prospective buyers of COMP can buy it from any popular crypto exchange such as MEXC, P2B, and BitVenus.
Here is a simple guide to buying COMP on an exchange.
- Select an exchange where COMP is listed.
- Select a crypto wallet that is compatible with the selected exchange.
- Create an account on the wallet.
- Deposit an adequate amount of currency in your wallet to conduct transactions.
- Connect the wallet to COMP’s purchase page on the exchange, transfer the required amount, and purchase COMP.
- Store your COMP tokens in any hardware wallet or cold wallet. Cold wallets will prevent the tokens from being exposed to any security threats.
Conclusion: Is COMP A Profitable Cryptocurrency Investment?
From this article it is clear that COMP is a bad buy for 2024-2030. The token shows bearish sentiments. The 50-day SMA and the 200-day SMA are not favorable for investment.
Therefore, investors are advised not to invest in COMP. If anyone is considering investing in COMP, they should thoroughly analyze the market trends before investing.
