Compound (COMP-USD) crypto is in the news today as traders react to the digital asset joining Robinhood’s (NASDAQ:HOOD) exchange as we go over price predictions.
Compound is among four cryptos added to Robinhood today. The others are Solana (SOL-USD), Polygon (MATIC-USD), and Shiba Inu (SHIB-USD). Each of these is seeing positive momentum today on the Robinhood news.
But what exactly is Compound? Here’s how the crypto is described on its own website.
“Compound is an algorithmic, autonomous interest rate protocol built for developers, to unlock a universe of open financial applications.”
With that quick explanation taken care of, let’s take a look at Compound price predictions below!
Compound Price Predictions
- GovCapital starts us out with a dismal price target that will see the crypto losing almost all of its value by the end of the year.
- WalletInvesor is up next with the publication expecting the crypto to reach a price of $2.763 over the course of a year.
- CoinDigitalPrice finishes off our list with a much more positive price prediction of $191.25 by the time 2023 comes to an end.
It’s worth noting that some of these price predictions appear to be based on the crypto’s major decline earlier this year. That’s not surprising but also may not paint an accurate picture of its future. Many cryptos and stocks saw a downward trend during that time due to overall market conditions.
COMP is up 6.9% over a 24-hour period as of Tuesday afternoon but is still down 36.2% since the start of the year.
Investors searching for more recent crypto news today are going to want to keep reading!
InvestorPlace has all of the latest crypto news that traders need to know about for Tuesday! A few examples include more details about SHIB joining Robinhood, Polygon price predictions, as well as an in-depth breakdown of Solana. You can get up to speed on all of these stories by checking out the following links below!
More Crypto News for Tuesday
- Robinhood Crypto Just Listed Shiba Inu, Prompting a Price Spike
- Polygon Price Predictions: Where Will a Robinhood Listing Take the MATIC Crypto?
- Whether in the Short-Term or the Long-Term, Be Careful With Solana
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.