Compound (COMP) Surges Nearly 10% In The Past Day, Here’s Why

NewsBTC
NewsBTC

29 Jun 2023 1:00 PM

One such way has been observed in the recent trading activity of Compound (COMP), the governance token tied to the Compound protocol. The......

  • Compound (COMP), the governance token tied to the Compound protocol, has experienced a significant surge, with a nearly 10% growth in the past day.
  • Whale or institutional investor activity, as observed by blockchain analytics firm Lookonchain, may be a contributing factor to the price increase.
  • COMP's price has broken multiple resistance levels and is currently trading above $46, up 51.7% over the past week.
  • The token's market capitalization has increased from below $200 million to $321 million, and its daily trading volume has surged from $10 million to over $90 million.
  • Over a two-week span, COMP has recorded a substantial growth pattern, with a 70% gain.

The sentiment of the article is positive, highlighting the significant surge and growth of Compound (COMP) and the potential influence of whale or institutional investor activity on its price.

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You May Ask

What is the recent trading activity of Compound (COMP)?What is the reason behind the recent price surge of COMP?How has whale or institutional investor activity influenced COMP's price?What is COMP's current market capitalization and trading volume?How much has COMP's price increased over the past week and two weeks?

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