Compound harvest. Best days are gone?

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Garry Kabankin
Sep 1, 2020

Compound is an interest rate protocol, with a token issued around 3 months ago.

It's been a while since we covered this hot new token first time.

Today COMP ended up in Emerging Trends again thanks to 20% pump.

We will apply a set of classic onchain metrics and enrich analysis with DeFi specific ones to suggest it's short term price action.

Compound related word of the day is divergence.

Image: Netpicks

There is almost a dozen of metrics in divergence with impressive COMP price action:

COMP Daily Active Addresses declining

All of these build quite a strong multiple indicator that Compound is slowing down. This is a worrying sign.

Can even be extended

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