Compound Finance and a tale of wETH supply cap increment

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CompoundFinance and a tale of wETH supply cap increment

COMP traded at $37.42 at press time. Still languishing under the impact of FTX’s collapse, COMP’s price was down by 22% in the last month, data fromSince the FTX debacle started, COMP’s daily trading volume also fell by over 55%. With $15.78 million worth of COMP tokens traded in the last 24 hours, trading volume was down by 15% within that period.

As COMP’s price declined in the last month, the count of large key addresses that held between 10,000 to 1,000,000 COMP tokens also fell. According to data from, the number of this cohort of COMP investors was 105 at press time. A month ago, this stood at 110. Interestingly, while the whales have gradually let go of their holdings in the last month, shrimps and sharks have done just the opposite. On-chain data showed that despite the consistent decrease in COMP’s price in the last 30 days, holders of one to 10,000 COMP tokens ramped up accumulation. As a result, the size of this COMP investor category has grown by 12% in the last month.

 

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