HomeDeFiCompound overtakes Maker and becomes the leading token of DeFi

Compound overtakes Maker and becomes the leading token of DeFi

The token of Compound has surpassed that of Maker by market capitalization and has become the leading token of DeFi

Indeed, according to DeFiMarketCap.io, the Compound token COMP has a market capitalization of about $913 million, while MKR, the MakerDAO token, has a market cap of about $547 million. 

The curious thing is that the COMP token has just landed on the markets, so it was a real success immediately at launch. 

Moreover, this is a real boom and not a flash in the pan, as evidenced by the fact that on Uniswap, for example, the COMP/ETH trading pair debuted directly in fourth place for liquidity. 

The pair with the most liquidity on the famous decentralized exchange is still DAI/ETH, but when considering only the last 24 hours, COMP/ETH outperforms it abundantly for trading volumes, with over $1.7 million. 

The most traded pair of the last 24 hours is ETH/UBOMB with over 2.2 million, followed by COMP/ETH with 1.7 million. All the others are under a million. 

Whereas if we look at the last 7 days, in the lead there is MKR/ETH with over 5.8 million dollars of traded volume, with ETH/UBOMB in second place, DAI/ETH in third place and COMP/ETH in eighth place. However, COMP/ETH has only been traded since yesterday. 

COMP/ETH results to be more liquid even than USDC/ETH, showing a real market interest surge for the COMP token. 

However, the USDC/COMP trading pair has very little liquidity and is hardly traded, so for now the interest of the market for this token seems to come mainly from ETH holders. 

Compound ranks third overall among DeFi platforms in terms of total locked funds, with about $136 million. 

In the first place of this ranking, there’s Maker, with almost half a billion dollars but in second place there’s Synthetix with only six million more than Compound. In the fourth position, there is Aave, far behind at about 81 million. 

It should also be noted that since yesterday, when the COMP token was placed on the market, the volume of locked assets on Compound has increased from 90 million to 136 million in just two days. 

In short, this seems to be a golden moment for Compound, and for its COMP token.

Marco Cavicchioli
Marco Cavicchioli
Born in 1975, Marco has been the first to talk about Bitcoin on YouTube in Italy. He founded ilBitcoin.news and the Facebook group" Bitcoin Italia (open and without scam) ".