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

Source: Defi LlamaCompound, which ranks third amongst DeFi loaning procedures, has $4.55 billion worth of properties locked on the platform and its COMP governance token has doubled in worth over the past week. Stock buying constraints highlight the requirement for DeFiWhile there are no major statements that seem to have actually catalyzed the present rally from COMP, the project did recently integrate with Ledgers Lend platform which allows wallet users to engage with the Compound platform and provide out their stablecoins.” AT the time COMP was trading for $241 and its possible that the additional attention the GameStop fiasco brought to the crypto and DeFi sector might have encouraged some financiers to provide Compound and other decentralized exchange platforms a try.COMP/ USDT 4-hour chart.

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