Compound is a platform that lets users lend and borrow cryptocurrencies. Users can deposit their crypto into pools and get cTokens that grow in value as interest accrues. Users can also borrow crypto from pools by putting up collateral.
The interest rate and the maximum loan amount depend on the type of crypto. Users need to maintain enough collateral or risk losing it to liquidation. Compound is a way to earn passive income or access liquidity in DeFi.
The Compound price witnesses a bullish outlook in the short term. The price took a rebound from the 200-day EMA indicating the presence of buyers at the lower levels. The price trades at $50.76 with a rise of over 9.90% in a month and added 15.55% in the past three months.
Compound Price Prediction 2023
The technical indicators imply that the price has surpassed both the 50-day and 200-day EMA indicating strength over the charts. Moreover, a golden crossover of the EMAs is visible on the daily chart indicating an upward price trajectory.
It had a 24-hour trading volume of $83.65 Million with a gain of 3.23% as compared to the last day. The live market cap is $407.98 Million and stands at 108th position among the top cryptos. The volume-to-market cap ratio is 20.48% indicating high volatility in the market.
The price prediction for November 2023 showcases a neutral to bullish outlook. The price may reach a high of $63.21 indicating an upside potential of 24.47% by year-end. The pessimistic view of analysts estimates the price may drop to $45.76.
Compound Price Prediction 2024
According to the analysts, the most optimistic target that COMP price may achieve is $87.01. It indicates an upside potential of 71.09% from the CMP. The average analyst price target is $73.09 by the end of 2024. However, the pessimistic view of analysts expects the price to reach $62.89.
Compound Price Prediction 2025
Over the next three years, the COMP price may reach a high of $111.96 as per the most optimistic estimates of the analysts. The minimum forecasted price by the end of 2025 is $79.83.
Compound Price Prediction 2026
The COMP price may reach a high of $140.74 if a positive trend prevails for the crypto market. On the other hand, the most pessimistic view of the analysts expects the price to reach $98.48 by 2026.
Compound Price Prediction 2027
According to the price prediction for the year 2027, the most optimistic view of analysts estimates the price to reach a high of $185.8. The minimum price target that the COMP crypto may achieve by 2027 is $133.55.
Compound Price Prediction 2028
The COMP crypto may rise to a high of $274.25 if the most optimistic trend prevails. However, the most pessimistic view of analysts estimates the price to reach about $203.91 by the financial year 2028.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
Source: https://www.thecoinrepublic.com/2023/11/28/compound-price-prediction-2023-2028-time-to-go-long-in-comp/