About a year ago, DeFi blew up with yield farming, which was started with Compound and COMP. Looking back and forward, we can now see what the future has in store for COMP holders. Interested? Find the Compound price prediction 2021 and on forth in our new article below!
Compound Price Predictions 2021–2030
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- In the remainder of 2021 Compound can still reach upper ranges of $910;
- In Compound price prediction 2022, the token can gain at the very least +50% and rise to $650;
- The Compound price can reach and exceed $1,000 as early as in 2024. By 2030 and even 2025 some opinions claim it can even exceed $10,000.
What is Compound and COMP?
Compound is a financial protocol built on top of the Ethereum blockchain that enables smart-contract regulated lending and borrowing.
The development of the Compound protocol is decided by community voting. To vote, Compound users use COMP tokens.
COMP tokens can be received by providing liquidity to a pool or by lending. To learn more about the protocol and COMP, check out our Beginner’s guide to Compound.
COMP Price History
COMP Price in 2020
COMP tokens arrived on the market in the very midst of the DeFi summer: in fact, Compound started the “yield farming” trend. The program was launched to a resounding success when COMP was worth $338 but soon became oversold and corrected.
For the rest of 2020, COMP mostly stayed between $100 and $200. The year closed with COMP at $150.
COMP Price in 2021
In early 2021, COMP price caught on to another market trend, this time following the Bitcoin rally. It peaked in May, when COMP reached the current ATH of $911.20 (May 12, 2021).
At the time of writing, the COMP price is $409.92 and the token ranks 56th by market capitalization according to CoinMarketCap.
What Can Influence the Price?
Unique qualities of DeFi are catching the interest of institutional investors. Digital currency investment company Grayscale unveiled a DeFi fund which includes COMP tokens to their clients in July.
The team behind the project, Compound Labs, themselves moved in that direction by establishing Compound Treasury in the same month. It is a company that seeks to offer institutional investors all benefits of Compound without the need to engage with the protocol directly.
DeFi in general is in a quirky position when it comes to mass adoption: on the one hand, no bank accounts or accreditations are required to use DeFi protocols. On the other hand, these days protocols are somewhat interdependent and there are barely any easy ways to on-ramp to DeFi.
Customer-oriented apps like Dharma try to integrate protocols to give users a choice and access to DeFi products. DeFi still has a long way to go to provide financial services with lower entry barriers but it has to start with something.
Since COMP is a governance token that represents voting power, it is particularly attractive to frequent Compound users. Protocol improvement proposals can spark interest in the token and drive the price up.
For instance, in February, when COMP holders were voting to increase the collateral factor of the WBTC market, COMP price was pushed from $382 to $555.
Of course, the community makes decisions not only about minor changes: major protocol changes also require consensus. Improvement proposals such as integrations with Ethereum Layer-2s and gas optimization are discussed on the official forum.
Twitter Posts on Compound and COMP
$COMP is about to blow out the COMPetition…
SOLStarter co-founder Zhi Ko shared a piece of technical analysis on COMP. Their prediction is continuation of an uptrend with a sharp spike up.
Why haven’t traditional companies taken advantage of the “DeFi mullet thesis” – FinTech in the front, DeFi in the back?
Imagine if a bank or Fintech company used $COMP, $AAVE, $CREAM or another $DPI protocol to offer high yield savings accounts (powered by DeFi)
— Crypto Texan 🦉 (@Crypto_Texan) August 25, 2021
Influencer Crypto Texan makes a case for banking to integrate DeFi: high yields can improve the sphere both for banks and their customers.
Bloomberg, along with Galaxy Digital, today announced the expansion of its crypto offering with the launch of the Bloomberg Galaxy DeFi Index, tracking:$UNI 40.0%$AAVE 18.0%$MKR 12.7%$COMP 10.0%$YFI 5.4%$SNX 5.0%$SUSHI 4.3%$ZRX 2.8%$UMA 1.8% pic.twitter.com/AgoXFYUdKk
— Bloqport (@Bloqport) August 19, 2021
Further proof of institutional and investor interest: COMP is tracked by the Bloomberg Galaxy DeFi index.
Compound Price Prediction 2021
BraveNewCoin Compound Price Prediction: $640-740
Analyst Josh Olszewicz evaluates on-chain characteristics of COMP as bearish. He also warns that total value locked and borrowing volumes skyrocketing could mean liquidations soon, so watching the metrics is advised.
On the COMP-USD chart, the resistances lie at $640 to $740. Relative strength index (measuring impact of price change) and Ichimoku cloud (sum of five averages) suggest the neutral trend for the near future.
LongForecast Compound Coin Price Prediction: $299-455
Prediction service LongForecast projects that the uptrend in COMP can come to an end quite soon. Starting from September, possible highs will be getting lower to $455 and even $382.
As the highs, so the lows will be descending, down to $299 in December. Projected closing price for COMP in 2021 is $321.
CoinQuora Compound Price Prediction: $91-910
CoinQuora analysts use the Wyckoff theory to predict possible trends, as well as support and resistance levels. To continue a bullish phase, reclaiming multiple resistances is necessary: $468.73, $584.61, then $901.68.
Currently, the COMP price is back in markup but the first resistance is yet to be overcome.
Compound Price Prediction 2022, 2023 and 2024
LongForecast COMP Forecast 2022: $572-658
What about Compound price in a year? By August 2022, COMP will climb out of the slump and appreciate in price. Compound token will be trading in the $572-658 range with a 51.5% average growth.
CryptoNewsZ Compound Coin Price Prediction 2023: $750
In two to three years, the CryptoNewsZ team says, COMP can reach a degree of adoption which would drive the demand for COMP for the price to reach $750.
Digital Coin COMP Price Prediction 2024: $1,018.08
Going by projections of the DigitalCoinPrice prediction service, on average COMP will be worth more than $1,000 as soon as in 2024. Moderate volatility will be observed, with highs reaching $1,215 and lows being $818.
Compound Price Prediction 2025
CryptoNewsZ Compound Coin Price Prediction: $1,000+
In four to five years we can expect a new market cycle to follow after the next Bitcoin halving. As such, the COMP forecast is optimistic and reaching the $1,000 mark is reasonable to expect.
Digital Coin Compound Crypto Price Prediction: $1,214
In the same vein, DigitalCoinPrice gives an average estimate of $1,214 for COMP in 2025. Monthly averages can range from $1,065 to $1,407.
Gov.Capital Compound Coin Price Prediction: $7,649-11,381
The most bullish forecast for the next few years is given by the Gov.capital service. Using historical data for COMP, they predict growth to $7,649 in January to $11,381 at the year’s close.
Compound Price Prediction 2030
In a more distant future, who knows what the crypto market will look like? Some services and experts still try to give an educated guess.
The Cryptocurrency Price Prediction website puts the ten-year target in the $8,330-10,412 range. Website Price Prediction goes even farther and claims COMP will trade between $12,726 and the maximum of $14,609.
ChangeHero COMP Price Prediction
Compound is one of the leading DeFi protocols in the current market but there is always competition. If it manages to attract and keep the attention of institutions, Compound could become the next big crypto project.
In the short term, analysts have differing opinions, so COMP would work better to hold for the long term. If the project doesn’t fail for unforeseeable reasons, it can eventually easily exceed $1,000.
How to get COMP on ChangeHero?
The process of buying COMP with crypto on ChangeHero is not complicated at all. It only takes five steps:
- Choose the currencies on the home page, amounts and the type of exchange. Provide your wallet address in the next step and check the amounts;
- Send in a single transaction the sum of cryptocurrency you will be exchanging. Fixed Rate transactions have a 15-minute limit;
- And now, relax! We are doing all the work: checking the incoming transaction and doing the exchange as soon as it arrives;
- As soon as the exchange has been processed, your COMP are on the way to your wallet. We’ll be happy to hear your feedback if you enjoyed using ChangeHero.
Compound is indisputably one of the leaders on the current market and DeFi but that could always change. It is now up to the COMP holders to keep the protocol in the game and keep it growing.
You can always find more about Compound and adjacent projects in our blog. For daily content, subscribe to ChangeHero on Twitter, Facebook, Reddit and Telegram.
Frequently Asked Questions
[sc_fs_multi_faq headline-0=”h4″ question-0=”What will Compound be worth in 2021?” answer-0=”Various sources give estimates in the range between $91 and 910 for Compound in 2021. ” image-0=”” headline-1=”h4″ question-1=”What will Compound be worth in 2022?” answer-1=”According to different analysts, in 2022 Compound price can grow to $572-658.” image-1=”” headline-2=”h4″ question-2=”What will Compound be worth in 2025?” answer-2=”Depending on the source, COMP token can grow up to $11,381 in 2025.” image-2=”” headline-3=”h4″ question-3=”What will Compound be worth in 2030?” answer-3=”While not certain, analysts predict that in 2030 COMP will be changing hands for up to $14,609.” image-3=”” headline-4=”h4″ question-4=”Is Compound a good investment?” answer-4=”Most analysts agree that in the long term, Compound is a decent investment.” image-4=”” headline-5=”h4″ question-5=”Will Compound coins reach $1,000?” answer-5=”Some long-term forecasts predict COMP can reach $1,000 as soon as in 2024.” image-5=”” count=”6″ html=”true” css_class=””]
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This article does not constitute financial or investing advice. No price prediction or forecast is guaranteed to provide exact information on the future price. Past performance is not indicative of future results.
When dealing with cryptocurrencies, remember that they are extremely volatile and thus, a high-risk investment. Always make sure to stay informed and be aware of those risks. Consider investitions in cryptocurrencies only after careful consideration and analysis and at your own risk.