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Bitcoin
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Ethereum
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$4,315.18 0.69796
Ethereum price
BNB
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$882.64 2.42218
BNB price
Solana
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$206.70 2.92293
Solana price
XRP
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$2.88 2.29801
XRP price
Shiba Inu
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$0.0000125 1.31761
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Pepe
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$0.0000099 2.46106
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Bonk
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$0.0000212 6.11305
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dogwifhat
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Popcat
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Bitcoin
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Ethereum
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BNB
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Solana
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$206.70 2.92293
Solana price
XRP
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$2.88 2.29801
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Shiba Inu
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$0.0000125 1.31761
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Pepe
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$0.0000099 2.46106
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Bonk
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$0.0000212 6.11305
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dogwifhat
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$0.833469 1.84559
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Popcat
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$0.248498 3.42632
Popcat price
Bitcoin
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$111,229.00 0.86605
Bitcoin price
Ethereum
Ethereum (ETH)
$4,315.18 0.69796
Ethereum price
BNB
BNB (BNB)
$882.64 2.42218
BNB price
Solana
Solana (SOL)
$206.70 2.92293
Solana price
XRP
XRP (XRP)
$2.88 2.29801
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000125 1.31761
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000099 2.46106
Pepe price
Bonk
Bonk (BONK)
$0.0000212 6.11305
Bonk price
dogwifhat
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$0.833469 1.84559
dogwifhat price
Popcat
Popcat (POPCAT)
$0.248498 3.42632
Popcat price

Compound (COMP) price gains 10% despite market correction

Yana Khlebnikova
Edited by
Markets
Compound (COMP) price gains 10% despite market correction

As Bitcoin (BTC) grapples with resistance near the $30,000 level after a week of fluctuations, Compound (COMP) rises by 10% in 24 hours.

At the beginning of the week, Bitcoin opened with a certain price, and since then, it has experienced fluctuations in its value, hitting a low of 28,861.90.

BTC strives to regain momentum as it hovers around 29,201 but faces resistance in reclaiming the crucial $30,000 level. In contrast, Compound (COMP) demonstrates a contrasting behavior as its price rises.

Compound’s WBTC integration 

Compound price surge comes after the approval of the proposal to add Wrapped Bitcoin (WBTC) as collateral on the Compound protocol. According to the ream, it allows to enhance the platform’s capabilities further and foster new possibilities in the defi space.

Wrapped Bitcoin (WBTC) is an ERC-20 token backed by 1:1 with Bitcoin, allowing users to leverage their BTC holdings in various DeFi applications. 

COMP price action

Compound is trading at $68.5, as traders and investors react to the positive news. The trading volume has also witnessed a substantial increase, amounting to $183.2 million over the past 24 hours.

Compound (COMP) price gains 10% despite market correction - 1
Compound price | Source: CoinGecko

Compound (COMP) has experienced an impressive 88% price increase in 30 days. The Relative Strength Index (RSI) currently stands at 64.68.

The support level has shifted from 63-65, initially considered resistance, indicating a robust bullish sentiment among traders. On the other hand, the resistance level is now at 88-90, showcasing the potential for further price gains if the current momentum persists.