Market Stats and Forecasts
Compound Description
COMP is the governance token of the Compound protocol founded by Robert Leshner and Geoffrey Hayes in 2017. This is a decentralized finance platform (DeFi) that allows users to lend and borrow cryptocurrencies. It works as the core system of the protocol’s decentralized governance system by allowing token holders the power to form the platform’s future. Before getting into more details about the token, let's first understand how does COMP works. Compound network introduced a fresh concept of token distribution. In this new concept, COMP is distributed to users who supply or borrow assets on the platform rather than just allocating tokens to a centralized entity.
This new concept incentivizes participants and creates a strong community around the protocol. Now, the question is how COMP is unique. According to Compound, most of the cryptocurrencies stay idle on exchange platforms without doing anything for their holders but Compound looks to modify this with its open lending platform, which permits anybody who deposits supported Ethereum tokens to effortlessly earn interest on their balance securely. Security plays crucial role especially in crypto transactions. When it comes to Compound it is fully secured and handled automatically by smart contracts. COMP plays crucial role in the DeFi ecosystem, where the network offers governance power to token holders.
It ensures that the protocol remains decentralized. The success of the compound protocol directly influences the value of the COMP token as the protocol grows and attracts more users, the demand for the token is likely to increase. When it comes to trading, this token is available on reputed exchanges like Coinbase Pro, Binance and Huobi Global. Undoubtedly, COMP can potentially become an active contributor to the crypto industry with its active use cases. So, for investors, this is the best opportunity to invest in this token according to their risk-taking capability.
Forecast Based on AI Model
Drawing insights from our analysis that integrates historical price movements of Compound, Our analysis, guided by the machine learning experts, yields forecasts for Compound price trajectory up to 2024. With a comprehensive understanding of Compound historical price movements and utilizing advanced algorithms, our team has derived predictions with a mean absolute error (MAE) value of 5 and an error value of 0.57%.
For the year 2024, our analysis indicates a projected yearly low of $59.95, with the high anticipated to reach $89.2. These forecasts are the outcome of a comprehensive approach designed to provide investors with reliable insights for strategic decision-making.
Prediction Table based on AI Model
| Date | Low | Average | High | ROI |
| 2024-09-20 | 64.88 | 66.23 | 67.53 | 7.92 |
| 2024-09-21 | 63.52 | 64.84 | 66.14 | 6.73 |
| 2024-09-22 | 62.82 | 64.82 | 66.7 | 5.56 |
| 2024-09-23 | 63.47 | 64.8 | 66.7 | 5.56 |
| 2024-09-24 | 62.82 | 64.13 | 65.41 | 5.56 |
| 2024-09-25 | 64.16 | 64.82 | 66.13 | 6.72 |
| 2024-09-26 | 64.24 | 67.02 | 69.59 | 9.07 |
| 2024-09-27 | 64.94 | 67.75 | 70.36 | 10.27 |
| 2024-09-28 | 67.06 | 69.2 | 71.21 | 12.69 |
| 2024-09-29 | 67.8 | 69.98 | 72.69 | 13.93 |
| 2024-09-30 | 67.8 | 69.23 | 71.3 | 13.93 |
| 2024-10-01 | 67.8 | 69.96 | 72 | 13.93 |
| 2024-10-02 | 67.1 | 68.51 | 70.6 | 13.93 |
| 2024-10-03 | 67.75 | 69.17 | 71.2 | 12.68 |
| 2024-10-04 | 69.24 | 71.44 | 73.48 | 15.16 |
| 2024-10-05 | 67.08 | 69.99 | 72.67 | 13.89 |
| 2024-10-06 | 68.52 | 70.7 | 72.76 | 15.15 |
| 2024-10-07 | 69.31 | 72.31 | 75.08 | 17.68 |
| 2024-10-08 | 70.03 | 71.49 | 72.92 | 17.68 |
| 2024-10-09 | 68.55 | 70.76 | 73.54 | 16.38 |
| 2024-10-10 | 71.51 | 73.79 | 75.89 | 18.94 |
| 2024-10-11 | 71.51 | 73.01 | 75.16 | 18.94 |
| 2024-10-12 | 69.28 | 70.74 | 72.89 | 17.64 |
Compound Price Prediction 2025
According to our analysis conducted via our Machine Learning Model,Compound is forecasted to achieve its peak value in 2025 at approximately $147.62, while potentially dipping to a low of $69.43. The average trading value during this period is projected to hover around $130.57.Compound Price Prediction 2026
In 2026, Compound is anticipated to potentially reach its peak value of $226.03, with a possible lower value of $115.33. The average trading value for this period is estimated to be approximately $203.63.Compound Price Prediction 2027
As we look ahead to 2027, the trajectory of the Compound coin may offer investors unexpected turns. Projections suggest peaks hitting $324.7 and lows stabilizing around $179.97, with an average trading value resting near $286.56.Compound Price Prediction 2028
In the upcoming year of 2028, investors may witness noteworthy fluctuations in the value of the Compound coin. Projections point towards a maximum value of $529.42, a minimum of $250.8, and an average value of approximately $470.61.Compound Price Prediction 2029
Our market analysis indicates optimistic prospects for the Compound crypto in 2029, with projected peaks at $748.15 and floors at $427.57. Moreover, the average trading value of this coin is anticipated to hover around $676.81.Compound Price Prediction 2030
In 2030, our crypto analyst team and Machine Learning experts envision a varied outlook for the Compound token. Projections indicate highs near $1,122.32, potential lows around $590.77, with an average value of about $1,018.63.Following the presentation of our forecast table, we provide users with convenient procedure links, offering insight into the comprehensive steps taken to derive our predictions. These resources afford transparency into our analytical process, detailing methodologies, data sources, and algorithms used to formulate forecasts, empowering users to grasp the intricacies behind our predictions.
Forecast Based on Technical Analysis
Bitcoin's 50-Day, 200-Day Simple Moving Averages and 14-Day Relative Strength Index - RSI (14)
Both the 200-day and 50-day Simple Moving Averages (SMA) are forecasted to rise, with the former expected to reach $45.63 by the Sep 20, 2024. The Relative Strength Index (RSI) stands at 1.2163, indicating a Rise market stance. Overall, while the long-term forecast is Sell.
About comp
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Kshitez Pratap Singh
Kshitez Pratap Singh possesses deep expertise in data analytics and machine learning. He excels at deriving actionable insights from complex datasets. Kshitez combines his analytical skills and machine learning knowledge to develop models that support data-driven decision-making, helping businesses and investors navigate and thrive in the finance niche.
Mohit Kumar
Mohit Kumar is a computer science engineer with a specialization in Artificial Intelligence and Machine Learning (AIML). he has honed his expertise in developing sophisticated machine-learning models tailored for the financial sector, exploring various aspects of forecasting and statistical modeling to provide invaluable insights for informed investment decisions in the volatile world of cryptocurrencies.
Sentiment: Sell
The Compound is predicted to surge by 6.62% to $64.13 by Sep 24, 2024, though current indicators show a Bearish sentiment with 14 out of 30(47%) green days and a notable -10.56% price volatility over the past month.
