Compound harvest. Best days are gone?
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.
There is almost a dozen of metrics in divergence with impressive COMP price action:
- Trading volume
- Transaction volume
- Social volume
- Social dominance
- Daily active addresses
- Network growth
- Amount of trades on DEX
- Development activity
- Total Value Locked
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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