DeFi Adoption: Compound (COMP) Sees 100% Surge Amid Coinbase Pro Listing Announcement

The price of Compound (COMP) tokens is seeing a massive surge amid a manic week for the decentralized finance (DeFi) project, which included a listing announcement by U.S. crypto exchange giant Coinbase.

Compound TVL Crosses $400M TVL Milestone

With the number of lenders on the Compound protocol increasing rapidly, data from DeFiPulse shows the project crossing the $400M mark in total value locked (TVL). Barely a week ago, this figure stood at $100 million. Compound becomes the second lending protocol to cross the $400 million mark after MakerDAO. This vertical climb in Compound’s TVL comes amid a token distribution event – a planned Coinbase listing that has seen the price of COMP tokens moon by over 100% over the last 24 hours, reaching a high of $240 on FTX exchange. As of writing these lines, COMP is trading around the price of $228. Yesterday, before the launch, COMP was sold for less than $65, that adds up to almost 270% ROI at the peak price. Read More...

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