Compound was on the list top gainers earlier this week. The article stated that it had huge potential following last week’s price action.
Interestingly, the increases across individual cryptocurrencies also reflected in the global cryptocurrency market. Although not significant, the sector’s value is showing signs of recovery from the previous day’s losses. Additionally, it is gradually edging towards a $1.20 trillion valuation if the current trading conditions continue.
Compound Gains 25%
COMP is the top gainer over the last 24 hours in the top 100. This comes as no surprise as the coin experienced a lot buying pressure that saw it return to levels it lost more than thirty days. This rapid shoot in price left many traders asking what triggered the latest frenzy. Following extensive research, it may be safe to conclude that they were no strong fundamentals to back the current trend.
With the absence of huge news, the whales are the next on the list of top. This scenario is evident from the daily chart. The candle on the chart is the longest on the layout over the last three months. It also has huge wick sticking out the top which depicts a high and a point of rejection. Nonetheless, the asset is up more than 20%.
