Spike in DeFi lending pushes Compound (COMP) price to a new high at $570 By Cointelegraph

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Spike in DeFi lending pushes Compound (COMP) price to a new high at $570

As and numerous altcoins surge toward new all-time highs, traders who are coin rich but cash poor are increasingly flocking to decentralized finance lending platforms where they can collatoralize their holdings to raise funds for new investments.

Compound is one of the leading DeFi lending platforms and over the past month its TVL and governance token price has rallied to new highs.

Total value locked in Compound. Source: Defi Llama
COMP/USDT 4-hour chart. Source: TradingView