Categories: Crypto

Compound Dethrones MakerDAO as the Leading DeFi Platform

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.

Related Post

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. 

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Share
Published by
JP Buntinx

Recent Posts

OKX Wallet Sees Whales Massive Moves; More on Plus Wallet & Coinbase  

Plus Wallet Impresses with its Speedy 15-Min Token Listings While Coinbase Unveils AI Tool &…

26 mins ago

100% Bonus with BlockDAG! Ethereum Eyes Breakout, Sui Plans To Expand

BlockDAG Rolls Out Limited Time 100% Bonus For Community While Ethereum Price Looks Bullish &…

1 hour ago

Best Crypto Wallets 2024: Top Choices for Security & Rewards

The 5 Best Crypto Wallets Worth Using in 2024 — Find Out Why Selecting a…

2 hours ago

Ethereum Ecosystem Primed For A November Rally – ETH Coins Chainlink (LINK), Toncoin (TON), And Cutoshi (CUTO) The Ones To Watch

With a Total Value Locked (TVL) of $50.72B, Ethereum is the world's largest blockchain, with…

9 hours ago

Analysts Predict a Rollblock 5000% Surge Dwarfing Pepe Coin and Popcat Recent Fame

The meme coin market has recently been surging once again; tokens such as Pepe and…

19 hours ago

FLOKI Dominates Meme Market as Rollblock ICO Skyrockets. Is Polkadot Losing Its Edge?

The FLOKI price has recorded over 300% yearly ROI, dominating crypto gains in the meme…

19 hours ago