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As various altcoins move towards new all-time highs, traders who are rich in coins but poor in cash are increasingly turning to decentralized finance (DeFi) lending platforms where they can offer their holdings as collateral to raise funds for new investments. .
- 2gether beats its historical record with 37 million euros transacted in cryptocurrency trading
Compound is one of the main lending platforms in the DeFi ecosystem and over the past month its total locked value (TVL) and the price of the governance token have reached new highs.
Total value locked in Compound. Source: Defi LlamaCompound, which ranks third among DeFi lending protocols, has assets worth $ 4.55 billion locked on the platform and its governance token COMP doubled in value over the past week. COMP is currently trading at $ 566, a new all-time high and a 325% increase from early 2021.
Read the full article on Cointelegraph
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