After a trading day, the vehicle token has become the largest decentralized financial symbol (DeFi) in market capitalization.

COMP acquired the MakerDAO MKR symbol for market capitalization, falling 60% in a few hours. Since then, the price tag has fallen 20% from the highest local levels above $ 100.

Currently, COMP ranks 20th in the market value of cryptocurrencies, which leads to congestion of the second largest accumulated currency, and the activation of the USD (USDC) currency from the top 20.

COMP Protocol Management
The compound symbol began to circulate on Monday, starting with the community’s management of the protocol.

The connection includes an algorithm for a decentralized generation of passive interest in Ethereum (ETH), with the ERC-20 project code, which gives voters the right to vote and allows them to propose changes to the protocol code.

COMP Protocol Management

According to DeFiPulse, the boat is currently the second largest DeFi protocol for managed assets, rising 48% in a single day to $ 176.6 million. United States of America in the form of prohibited funds – or nearly 17% of the total funds currently allocated by DeFi. MakerDAO has $ 488.9 million in prohibited funds, or 46.6% of all DeFi invested money.

The list of companies increased DeFi’s market share to $ 3.2 billion, just a week after the sector’s capitalization exceeded $ 2 billion for the first time. DeFi codes represent for the first time more than 1% of the entire crypto assets market.

Founder of Synthetix underrated companies
Kane Warrick, founder of Synthetix, a platform that creates artificial assets for DeFi and Protocol III at DeFiPulse, praised the vessel for successfully launching the token – and announced that it had reduced the impact of the COMP launch:

Warwick wrote: “I didn’t see how you could create a strong community without a code to launch it, but until then it was required to get some value, and the management wasn’t enough.”

“I see a very strong community that has grown up all around COMP now, given that a wide range of people who serve it […] are new lenders that will be broadcasting over the next few weeks and months that will really matter,” – he added, predicting Conconnect could top DeFi Asset Management rankings coming soon.

Source: CoinTelegraph