The DeFi industry seems to be imploding with fresh capital. More and more money is finding its way to the Compound platform, allowing it to surpass MakerDAo in terms of total value locked.
Cryptocurrency holders are looking for multiple ways to make money.
The Compound Hype Train is Here
A passive revenue stream can be of great value in this regard.
Through DeFi solutions, that concept has become a lot more approachable, assuming one holds the right assets.
Compound is now officially the most popular decentralized finance solution.
It has surpassed MakerDAO in terms of total value locked.
As a result of this growth, the native COMP token has also gone through major growth.
It has surpassed a value of $360 today, although that momentum seems unsustainable in the long run.
The growth of Compound has been remarkable, to say the least.
Its total value locked increased by over $500 million in the span of several days.
Moreover, it seems as if money is being pulled out of MakerDAO and moved to Compound accordingly.
At the time of writing, Compound represents nearly 40% of all funds locked in DeFi protocols today.
Sustaining this level of growth will be challenging, albeit anything is possible in this nascent industry.