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
There’s more of this Insight
Choose your subscription plan
Years of market experience, compressed in each report
Since 2017, Santiment has been an industry leader in on-chain data, social intelligence and behavior-based analysis of the crypto market.
Our tools have a proven track record of timing price tops for cryptocurrencies, helping traders find profitable exit points and mitigate HODLing risk.
Our previous TOP calls:
What you get with Sanbase Pro:
- Members-only daily market insights and analysis
- 30+ on-chain, social & project indicators for 900 cryptocurrencies
- Custom alerts for the coins' price, on-chain & social trends
- Santiment Spreadsheet plugin with 10+ pre-made market templates
- Personalized asset watchlists and weekly performance reports
Gain unfair advantage with Sanbase Pro
Subscribe to Sanbase Pro for access to exclusive insights, market-beating metrics, strategies and templates!