What Is Compound COMP? Top Altcoin To Buy in 2022! COMP Crypto News & Price Prediction
What Is Compound COMP? Top Altcoin To Buy in 2022! COMP Crypto News & Price Prediction
00:00 - Introduction
01:29 - COMP Price Live Data
01:47 - Compound Vs Bitcoin
02:29 - What is Compound?
03:33 - Highlights of the year
04:55 - COMP Price Prediction
05:37 - My thoughts
Some decentralized finance (DeFi) assets are outperforming the broader crypto market bear trend with significant gains, including Maker, Aave, Curve and Compound.
Maker is up over 10% in the last 24 hours, while Curve is up 12%, Aave is up 17% and Compound (COMP)—up 18% in the last day—has also gained over 22% in the last week.
These price moves come earlier than for some of the industry’s biggest crypto currencies such as btc and eth. On the other hand we also saw the same coins falling prior to btc and ethhittimg all time highs
In this video we're gonna give you a handful of fundamental reasons to remain optimistic on Compound for 2022 and way beyond and will also look at some price predictions for COMP tokens.
One of the major functions of DeFi apps is achieving the most effective system of allocationcrypto resources’. Lenders should receive the maximum interest for their services, while borrowers should have access to the required liquidity at any moment. COMP addresses this challenge by offering cTokens to users when they provide respective tokens (for example, cETH for ETH). The exchange rate to the deposited assets increases over time, thus enabling users to receive extra income. The secured loan is also always available for borrowers in case they have provided the proportional collateral. The loan-to-value-ratio typically varies in the range of 50-75%. In this manner, the interests of all major parties involved are properly balanced with one another.
What Is Compound?
Compound is a software running on Ethereum that aims to incentivize a distributed network of computers to operate a traditional money market.
One of an emerging number of decentralized finance (DeFi) protocols,
Compound uses multiple crypto assets to provide this service, enabling the lending and borrowing required without a financial intermediary like a bank.
Put simply, Compound allows users to deposit cryptocurrency into lending pools for access by borrowers. Lenders then earn interest on the assets they deposit.
Once a deposit is made, Compound awards a new cryptocurrency called a cToken (which represents the deposit) to the lender. Examples of cTokens include cETH, cBAT and cDAI.
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