Compound Price Prediction: Will COMPOUND Price Reach $500 By Dec. 2020?

Selina Mary

Selina Mary

Jun 20, 2020
San Francisco
Among the altcoins with distinct business propositions, decent market contraction, and ready products, COMP takes a top position. As Defi takes over the crypto space, Defi-related tokens are seen to be riding an excessive bull market. This has driven many of this category of coins towards high prices and left investors huge profits.

In this article, we present the best future price capabilities for the cryptocurrency, COMP. While this is not investment advice, we hope to present COMP in full details and give a heads up about your conclusion to invest in the cryptocurrency.

About Compound Protocol

COMP is an Ethereum token that manages the independent Compound protocol. With this protocol, anyone can rent and lend tokens through a decentralized market. Whereas Lenders can earn income in the crypto they supply to the protocol and borrowers pay interest to borrow it.

Compound Finance Team established the Compound Governance Token (COMP) is the main application to improve the council of the Compound Lending Protocol through community governance.

COMP is an ERC-20 asset token that works on the Ethereum Network, similar to the Compound Smart Contract itself. In addition to that, COMP allows its owner to assign voting rights to an address of their likes; be it the owner’s own wallet, another user, an application, or a DeFi artist.

COMP Price Today
COMP gains the next spot on this list with nearly 10% gain in 24-hour.
Although with equivalent ups and downs, we see COMP growing against its USD pair regularly. Market belief remains bullish as roughly 80% believe there will be a more bullish move inward.

COMP at presently is trading at $172 as the further upside is highly expected. As the full markets fluctuate into a full-fledged bull season, COMP is expected to be trading around $400 by the end of the year 2020.

The technicals remain strong for COMP. The coin, being a top coin will see huge growth and development into the year 2021. This will carry interest in the coin and cause severe price actions. COMP may reach as high as $700 to $1000 by the end of 2021.

COMPOUND Market Prediction

1. According to Wallet Investors (WI) technical analysis, WI presents a bearish case for COMP. COMP is expected to dip through $91 per coin in their one-year prediction.

2. Digital Coin Price is more bullish in its access to COMP. COMP price will be trading around $270 by 2020 end as per their prediction. They also claim that prices are expected to touch around $320 in 2021 and may fasten way through $700 in 2025.

3. Crypto Price Prediction believes COMP may reach a slightly high price around $203 by end of 2020. According to CPP, COMP may touch as high as $1,500 in 5 years’ time.

Our COMP Price Prediction
We strongly hold to a few possible for COMP and believe in a bullish future. According to our study, however, at the end of 2020 COMP may touch as high as $350. However, prices may touch around $1,000 in 2021 and proceed to $5000 in 2025.
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