COMP/USD is one way of expressing the current price of 1 COMP to USD, that is one Compound token versus the US dollar. There are several ways the pairing can be written, with COMP-USD, COMP USD, and COMP to USD some of the most frequent ways to express the pair. COMP is the governing cryptocurrency of the decentralized finance protocol Compound. Launched by Robert Leshner and Geoffrey Hayes in 2017, Compound is a DeFi borrowing and lending platform that allows lenders to earn interest on their deposited cryptocurrency and, in turn, enables anyone to borrow without a financial middleman, such as a bank or other lending institution. COMP has become a popular cryptocurrency among many traders. You can trade Compound with the latest COMP USD price analysis, charts, and an array of trading tools on one of the world’s best crypto exchanges, eToroX.
Since it launched in 2007, eToro has been recognized as one of the pioneers of online trading, giving millions of people around the world access to financial products, including cryptocurrency, for trading and investing. Recognizing that professional and expert crypto traders might want a dedicated platform, in 2019 we launched eToroX where you are able to access crypto trading tools, generous credit lines, and other features backed by the innovation and dedication synonymous with the eToro brand. On eToroX, you will find a competitive fee structure with zero fees on deposits, a banking option via eToroX’s Fiat Gateway, and regulation through the Gibraltar Financial Services Commission (GFSC). You can invest in COMP-USD as well as the top cryptoassets now on regulated eToroX.
COMP is the governing cryptocurrency for Compound, a DeFi protocol. Launched in 2017, Compound was one of the trailblazers for DeFi borrowing and lending, and its model has become so successful that other DeFi protocols have followed its blueprint. The concept was born out of the argument that a lot of cryptocurrencies can sit idly on decentralized exchanges that otherwise could be put to better use, for example, if they were used in lending pools. That way, those staking can earn interest from those borrowing. The compound uses another cryptocurrency, cToken, to facilitate the transactions, including interest, whereas COMP is the governing token, giving holders voting rights to determine how the protocol is governed. As with most DeFi protocols, the process Compound follows is not easy to explain in simple terms. But it’s enough to say that anyone engaging directly with the protocol can earn COMP and that the cryptocurrency has held significant value over the last years. As you might expect, the price of COMP is linked to the success of its DeFi lending and borrowing protocol, and those investing in COMP may see DeFi having a big role in the future of banking.
Like most other cryptocurrencies, COMP has experienced ups and downs since its launch. In 2020, there was a burst of interest as enthusiasts waited for Compound to release its governing cryptocurrency to the public. Once Comp was released, there was excitement, with a price pop of over $60 per COMP token. At the end of Q1 2022, COMP has managed to stay above its all-time low of just over $61, recorded in June 2020 (when it launched). The token saw an as-yet record high of over $910 in mid-May 2021. COMP has a max supply of 10 million tokens, with around 6.6 million of those currently in circulation (as of spring 2022). With 2800 COMP tokens released each day, at this rate, the max supply should be reached in late 2025. Those interested in COMP are likely bullish on the concept of DeFi replacing – or at least challenging – the traditional idea of banks, allowing people to borrow without supplying personal information. You can trade COMP for USD, as well as dozens of other crypto pairs, right here on eToroX, with COMP/USD signals, COMP-USD live prices, and COMP USD charts assisting you as you evaluate Comp for your portfolio.
eToroX was created with the goal of addressing the unique needs of experienced crypto enthusiasts and investors. In addition to the wide selection of trading features on the exchange, investors will benefit from the exchange’s ever-present commitment to offering low fees, liquidity, transparency, safety, and security. On the exchange, eToroX crypto traders get access to a host of great benefits including no fees for crypto deposits and withdrawals when buying and selling COMP, iron-clad security mechanisms in place to arrest potential security breaches and liquidity access for spot traders. Learn more about trading COMP USD on eToroX today.