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Compound (COMP) Market Cap Surpasses Maker (MKR) Cap. Has DeFi’s FOMO Started?

News
Sat, 06/20/2020 - 14:56
Vladislav Sopov
Compound Protocol (COMP) has already established itself as one of the flagships of the upcoming DeFi assets euphoria. It appears that it has achieved a crucial milestone.
Compound (COMP) Market Cap Surpasses Maker (MKR) Cap. Has DeFi’s FOMO Started?
Cover image via stock.adobe.com
Contents

Despite its live trading being launched three days ago, the splendid performance of Compound Protocol Token (COMP) has managed to bring it closer to the Top 25 cryptocurrency assets in terms of the size of their market capitalization.

A Star Has Risen

According to the statistics of Coingecko, a top-level independent analytical ecosystem, the Compound (COMP) token is currently trading at $207, ranking it #26 on the list of coins with the largest market capitalization.

COMP surpasses MKR in terms of capitalization
Image by Coingecko

That being said, COMP surpasses the most well-known DeFi product, Maker, by a wide margin. Within the last 24 hours, COMP also surpassed veterans of the crypto segment, Cosmos (ATOM) and ZCash (ZEC). It also looks like VeChain (VET), the flagship of real-world adoption of blockchain-based instruments, won't stay in its position for so long.

This was achieved despite the fact, that at press time, COMP's asset is only changing hands on the two top-level exchanges (Poloniex and IDEX) and on Uniswap's decentralized protocol, according to the Coingecko analysts.

COMP's price performed increased at an insane rate within the first days of trading publicly. Since June 16, 2020, i.e. the date that the public started to track its performance, it surged 155%, from $89 to $227.

New Bubble or New Era?

It isn't the only asset associated with a decentralized finances segment that's performing brilliantly right now. For instance, Aave Protocol's token (LEND) is among the top mid-cap gainers on spot exchanges, with a 17% surge in 24 hours. Bancor Network Token (BNT) also has managed to erase all price losses caused by a security bug disclosure and excited its holders with a double-digit performance.

COMP token is used as a governance asset in compound autonomous interest-earning protocol. It is also used in protocol rewards mechanisms.

Numerous prominent analysts highly evaluate the outbreak of DeFi assets. As recently covered by U.Today Crypto News, blockchain researcher Chris Burniske highlighted that this game has only started and 'missing this boat' may not be a smart bet.

Three Arrows Capital's CEO Su Zhu also announced that the popularity of DeFi is much more sustainable and accretive compared to the ICO hype of 2017.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director

News
Mon, 07/13/2020 - 14:38
Vladislav Sopov
John Lilic, managing director at ConsenSys decentralized development studio, has shared an over-bullish prediction for Ethereum (ETH) progress
Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director
Cover image via stock.adobe.com
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John Lilic leads international business development in the ConsenSys leading blockchain development studio. He is also an expert in energy markets and cryptocurrency segments. He tracked the progress of Bitcoin's (BTC) and Ethereum's (ETH) market capitalization statistics, coming up with an extravagant prediction.

Bitcoin (BTC) should get ready for parity

Mr. Lilic outlined that Ethereum (ETH) is showcasing much healthier dynamics than its competitor is. For instance, the flagship cryptocurrency still surpasses Ethereum (ETH) by 6.3x in terms of market capitalization, while simultaneously collecting 20% fewer fees than Ethereum (ETH).

John Lilic of ConSensys foresees parity of Bitcoin (BTC) and Ethereum (ETH) market capitalizations
Image via Twitter

Also, Ethereum (ETH) is demonstrating much more impressive price dynamics this year. It gained almost 37% against Bitcoin (BTC) in 2020. That said, Ethereum (ETH) looks severely undervalued to the top manager of ConsenSys.

However, Ether is on the path to eliminating this discrepancy. Eventually, the top two cryptocurrencies may reach market capitalization parity, concludes Mr. Lilic.

Related Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains
Related
Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains

As covered by U.Today Crypto News recently, Coinmetrics on-chain research team called Bitcoin (BTC) and Ethereum (ETH) the unique crypto behemoths that have managed to recover from Black Thursday.

Bitcoin (BTC) is losing supremacy in "fee race"

Should Ethereum (ETH) overcome its undervaluation, its price may be over $1,550 based on liquid supply and current Bitcoin (BTC) market capitalization.

Recently, it was unveiled that Ethereum (ETH) blockchain continues to surpass Bitcoin (BTC) in terms of network fees for more than 30 days in a row. Ethereum (ETH) is seeing this advantage for the first time in its history.

As U.Today Crypto News reported previously, ex-Messari analyst and angel investor Qiao Wang identifies two main catalysts of Ethereum's (ETH) price run in the mid-term perspective.

Related Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang
Related
Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang

According to Wang, the upcoming rally may be fueled by a long-awaited transition to Proof of Stake and fixing the monetary policy of Ether token.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)