Compound (COMP) price prediction and forecast 2023, 2025, 2030
1 year ago By Oluoma Aneke
Compound (COMP) price prediction and forecast by different analysts are due to different technical analyses.
Compound (COMP) is a platform that enables borrowing and lending for different users. Different users earn different rewards depending on whatever transactions they perform.
COMP has consistently grown its financial strength and attracted more investors and users to its platform.
Due to the volatility of the crypto market and the various factors that influence the price of the different tokens, you should always research and remember that no technical analysis is 100% perfect.
In this article, we will look at the Compound (COMP) price prediction and forecast from 2023-2030
What is Compound (COMP)?
Compound is software running on Ethereum and decentralized finance that enables users to deposit cryptocurrency to lending pools where borrowers can access it.
Compound enables users to lend and borrow without an intermediary market, and they provide the service using multiple crypto assets.
As a lender, once a deposit is made from a borrower, Compound will award you with a new cryptocurrency called cToken (which will represent the deposit you made).
You can transfer or trade your cToken, but you can only redeem it with the cryptocurrency initially locked with the protocol. This is not a manual process because Compound has a code that can handle the process automatically.
How was Compound (COMP) formed?
Robert Leshner and Geoffrey Hayes are the founders of Compound and they are both serial entrepreneurs. They previously owned firm Brithces which aggregated inventory from local shops to be sold at PostMates.
Compound has made tremendous progress in terms of finance. In 2018, with the help of two popular venture capitals, Andreessen Horowitz and Bain Capital Ventures (the venture-capital arm of the consulting firm Bain), Compound raised $8.2 million in funding.
Also, in 2019, Compound raised another $25 million from the same investors and others like Paradigm capital (Coinbase founded Paradigm capital).
What gives Compound (COMP) Value?
Compound rewards its users with COMP tokens and also allows them to vote. This means that users on Compound who have COMP tokens are free to take part in the decisions that affect the software and rules that govern the use of the platform.
COMP also made it possible for non-COMP token holders to vote when an issue arises. In this case, if a token holder is not available to vote, he or she can pass the voting right to a non-COMP holder, let's say, a legal expert.
These features that COMP possess adds to its value.
What affects the price of Compound (COMP)?
The prices of COMP and their price predictions are influenced to a great extent by the sentiments surrounding DeFi markets. COMP being a governance token, is liable to experience ups and down times. Reductions in price in terms of security breaches usually do affect the value of Defi tokens.
Also, the new Defi protocols that get launched on a regular basis are a threat to the success of COMP. With the new enthusiasm of new crypto enthusiasts, COMP price can be affected by a surge of these cryptocurrencies.
Compound (COMP) price prediction 2023 - 2030
The various COMP price predictions are based on different technical analyses by different experts. This is not financial advice, so always do your research before investing.
Compound (COMP) price prediction and forecast 2023
Owing to the different technical analyses conducted by different experts, the price of COMP is expected to get to a maximum value of $124.74 and trade on average of #110.85.
The price of COMP in 2023 is not expected to go below $107.89.
Compound (COMP) price prediction and forecast 2024
Owing to the different technical analyses conducted by different experts, the price of COMP is expected to get to a maximum value of $185.30 and trade on average at $161.05.
The price of COMP in 2024 is not expected to go below $156.62.
Compound (COMP) price prediction and forecast 2025
Owing to the different technical analyses conducted by different experts, the price of COMP is expected to get to a maximum value of $268.75 and trade on average at #229.49.
The price of COMP in 2025 is not expected to go below $221.44.
Compound (COMP) price prediction and forecast 2026
Owing to the different technical analyses conducted by different experts, the price of COMP is expected to get to a maximum value of $394.89 and trade on average of #336.70.
The price of COMP in 2026 is not expected to go below $327.52.
Compound (COMP) price prediction and forecast 2027
Owing to the different technical analyses conducted by different experts, the price of COMP is expected to get to a maximum value of $582.64 and trade on average of #493.94.
The price of COMP in 2027 is not expected to go below $480.47.
Compound (COMP) price prediction and forecast 2028
Owing to the different technical analyses conducted by different experts, the price of COMP is expected to get to a maximum value of $833.87 and trade on average of #703.91.
The price of COMP in 2028 is not expected to go below $679/22.
Compound (COMP) price prediction and forecast 2029
Owing to the different technical analyses conducted by different experts, the price of COMP is expected to get to a maximum value of $1,022.81 and trade on average of #$1,022.81.
The price of COMP in 2029 is not expected to go below $987.61.
Compound (COMP) price prediction and forecast 2030
Owing to the different technical analyses conducted by different experts, the price of COMP is expected to get to a maximum value of $1,746.27 and trade on average of #1,486.18.
The price of COMP in 2030 is not expected to go below $1,445.27.
Expert's price predictions on Compound (COMP)
Different experts have different views on what the possible price of COMP will be in the future. The various predictions are influenced by different factors. So, each expert has their view on what the price of COMP will be in the coming years.
Wallet investors don't seem to have much hope for the future price of COMP and this is evident in the bearish prediction.
Wallet Investor predicts that by next year, COMP will get to $3.46 and by 2026, $6.304.
PricePrediction.net has a bullish prediction on COMP. It predicts that the maximum price of COMP in 2022, will be $77.73. For 2025, the prediction is $229.49 and by 2030, it will be $1.486.
DigitalCoinPrice predicts that in 2023, the price of COMP will be an average of $95.26. For 2024, $89.96, 2025, $124.37 and 2026, $112.27.
Long forecast predicts that by 2023, the COMP exchange rate might reach $111.
Coin Price Forecast predicts that by the end of the year, COMP might get to the price of $214.
How does Compound (COMP) work?
With the combination of smart contracts running on Ethereum and incentives paid in cryptocurrency, Compound connects lenders and borrowers.
So, you can either be a lender or borrower on the Compound platform.
As a lender, if you want to lend your cryptocurrency to Compound, you will send your token to an Ethereum address that Compound controls. Compound rewards Lenders with COMP tokens. Your reward depends on the amount of cTokens you have in your wallet and also how available the supply of that asset is.
Borrowers post collateral on Compound in the form of a cryptocurrency. As a borrower, you can borrow cryptocurrency supported by Compound at a percentage of the posted value.
Also as a borrower, if the asset you borrowed increases in value and becomes more valuable than the posted collateral you can get liquidated.
Take Away
The different analysts used their technical analysis to predict the future prices of COMP. Like every other Defi, COMP is volatile in terms of prices and can be affected at any time.
With this in mind, you should always confirm the recent price situation of COMP before investing.
