There's a strong lesson here
I don't know a single person around today that I believe to be a good trader than did not get shit on a few times during their come up
Its not a badge of honor though, it's the scars from the painful periods
2016-2018, I entered the space and ran it up off just pure retail tism
2018-2020, Had some big wins with BTC & alts like chainlink. Then corona came and I went into my larger drawdown ever in March 2020
I had just quit my full time job one month prior
So the timing was fucked
Markets rebounded eventually and I traded back some of my losses but I was down bad. Not just drawdown but mentally lost. Wondering if I should quit this pursuit
During the Summer time I decided to spent time with my family. My grandmother had recently passed & I felt I needed to spend extra time there
During the Summer my boys were hitting me up constantly about the new hype "defi". I put a little thought into it but wasn't in the gambling headspace, so instead I just watched my boys print
Summer was ending and defi hyped had died down. I was getting back into trading full time again and BTC was starting to get pretty bullish and for some reason I knew I wanted to bet on defi
I called this play my "hero or zero" moment when speaking with my closer friends, few knew how much I needed to win big again
BTC had finally broken 10k macro resistance and was retesting, it was time to buy
I bought up more BTC & ETH, then I started on defi plays like Comp, Aave, SNX, Link, Sushi, UNU, YFI, etc. I started with whatever was first I think compound and then I just kept buying new shit as it would come out
I was a little early to my first defi buys but once BTC trading up again Defi was the hot sector to play and I was lucky enough to be early this time
As you can guess everything went wild. Some of my fonder memories celebrating with the homies as price kept going up(see pictures)
Closing Thoughts:
We've all been down bad but I still believe if you are retarded enough to refuse to give up and are blessed with a little luck, crypto is still the best market to pull out bread
These screenshots take me back to a different era
Loma
My first 2 years my crypto networth went from $2K to $150K back down to basically nothing.
Thought it was genuinely over for me in the 2018-2020 bear.
But until death, all defeats are psychological.
Believe, not in these scammers pouring snake oil down your throat, but yourself.
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DeThings
🔵The Compound team linked an address deposited 250,100 COMP, or about $11.2 million, to Coinbase Prime
DeThings, May 16 (UPI) -- According to Spot On Chain, an address linked to the Compound team deposited 250,100 COMP (about $11.2 million) to Coinbase Prime in the past three hours.
This is the address's first transfer of COMP assets in nine months, after it had just redeemed 398,100 COMP ($17.7 million) from Compound V3.
The address still holds 148,032 COMP (about $6.58 million).
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余烬
The address that is supposed to belong to the @compoundfinance team transferred 250,000 $COMP ($11.14M) to Coinbase Prime 2 hours ago.
◎ This address received a total of 609,000 $COMP from "Compound: Team 2" in 2021-2022.
◎At present, the address also holds 150,000 $COMP ($6.7M).
Address Links 🔗👉:
This article was sponsored by #Bitget|@Bitget_zh
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ChainCatcher 链捕手
According to Spot on Chain monitoring, a wallet address bound to the Compound team has deposited 250,100 COMP (about $11.2 million) to CoinbasePrime in the past 3 hours.
Previously, the wallet redeemed 398,100 COMP (about $17.7 million) from CompoundV3, which was the first COMP transfer in the wallet in 9 months. The wallet still holds 148,032 COMP (about $6.58 million).
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Spot On Chain
A wallet tied to the Compound team deposited 250,100 $COMP ($11.2M) into #CoinbasePrime in the past 3 hours.
This follows its redemption of 398,100 $COMP ($17.7M) from #CompoundV3 — the wallet’s first $COMP moves in 9 months.
It still holds 148,032 $COMP ($6.58M).
Track it via @spotonchain:
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Compound price performance in USD
The current price of Compound is $43.6600. Over the last 24 hours, Compound has increased by +0.58%. It currently has a circulating supply of 9,029,559 COMP and a maximum supply of 10,000,000 COMP, giving it a fully diluted market cap of $393.87M. At present, the Compound coin holds the 90 position in market cap rankings. The Compound/USD price is updated in real-time.
The rating provided is an aggregated rating collected by OKX from the sources provided and is for informational purpose only. OKX does not guarantee the quality or accuracy of the ratings. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly, and can even become worthless. The price and performance of the digital assets are not guaranteed and may change without notice. Your digital assets are not covered by insurance against potential losses. Historical returns are not indicative of future returns. OKX does not guarantee any return, repayment of principal or interest. OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/ tax/ investment professional for questions about your specific circumstances.
By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates ("OKX") are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets.
Compound (COMP) is a cryptocurrency that plays a significant role in shaping the future of borrowing and lending protocols within the decentralized finance (DeFi) industry.
What is Compound
Compound is a prominent DeFi protocol that utilizes its native token, COMP, as an integral part of its platform. COMP enables users to access and utilize the services offered by Compound seamlessly. One of the critical features of COMP is its governance functionality, which empowers token holders to participate in the decision-making process actively. By holding COMP tokens, users have the authority to propose and vote on modifications and improvements to the protocol, allowing them to shape its future development.
The Compound team
The Compound team comprises blockchain programmers and entrepreneurs driven by a shared vision of establishing an efficient and accessible financial system. Robert Leshner leads the team, bringing expertise in economics and finance to the table. The team has achieved remarkable milestones, securing more than $8 million in funding from prominent stakeholders. Currently, the Compound protocol manages assets valued at over $1 billion, showcasing the team's success in building a robust and trusted platform.
How does Compound work?
Compound operates as a DeFi protocol that facilitates the lending and borrowing of cryptocurrencies. Built on the Ethereum blockchain, users can engage in these activities transparently and securely.
The platform's native token, COMP, serves dual purposes: governance and incentives. COMP holders have the power to propose and vote on changes to the protocol, shaping its future. Additionally, COMP is a reward mechanism, encouraging users to supply assets or borrow against collateral. This incentivizes participation and contributes to the platform's overall functionality.
Compound’s native token: COMP
Compound's native token, COMP, plays a crucial role in the ecosystem by serving multiple functions. With a maximum supply of 10 million, COMP operates on the Ethereum blockchain as an ERC-20 token. It is used for governance and liquidity mining rewards within the Compound platform.
COMP token holders can propose and vote on modifications to the protocol, actively participating in the decentralized governance of the platform. This empowers the community to shape the future direction of Compound.
Additionally, COMP tokens are utilized as incentives for users who engage in the liquidity mining program of the DeFi protocol. By providing liquidity to the platform, users can earn COMP tokens as rewards, further enhancing participation and liquidity within the ecosystem.
How to stake COMP
To stake COMP tokens and maximize rewards, COMP holders should purchase COMP from reputable cryptocurrency exchanges like OKX. If an account still needs to be established, registration should be completed, along with the setup of an ERC-20 wallet.
Once these steps are taken, the COMP tokens can be sent to the chosen staking platform, such as OKX Earn, which offers a flexible staking setup. The next step involves confirming the desired amount of COMP to stake and selecting the Subscribe button to initiate the staking process.
COMP use cases
The COMP token has multiple use cases within the Compound ecosystem and the broader DeFi sector. COMP holders can participate in the Compound protocol's governance by suggesting proposals and voting on important decisions. Additionally, they can earn rewards by participating in DeFi programs or staking their COMP tokens.
Distribution of COMP
The distribution of COMP tokens is as follows:
50 percent of the tokens are allocated to Compound's liquidity mining program.
25 percent is reserved for the Compound team and advisors.
The remaining 25 percent is set aside for future needs within the Compound ecosystem.
What does the future hold for Compound
The future of Compound holds plans for platform expansion, encompassing stablecoins, fiat currencies, and additional cryptocurrencies. Geographically, Compound aims to extend its presence to promising regions like Asia and Latin America. Furthermore, the team intends to introduce new DeFi products and services, including derivatives and financial markets, and forge partnerships with other DeFi protocols.
Number of posts mentioning a token in the last 24h. This can help gauge the level of interest surrounding this token.
Contributors
Number of individuals posting about a token in the last 24h. A higher number of contributors can suggest improved token performance.
Interactions
Sum of socially-driven online engagement in the last 24h, such as likes, comments, and reposts. High engagement levels can indicate strong interest in a token.
Sentiment
Percentage score reflecting post sentiment in the last 24h. A high percentage score correlates with positive sentiment and can indicate improved market performance.
Volume rank
Volume refers to post volume in the last 24h. A higher volume ranking reflects a token’s favored position relative to other tokens.
In the last 24 hours, there have been 7.2K new posts about Compound, driven by 5.7K contributors, and total online engagement reached 6.6M social interactions. The sentiment score for Compound currently stands at 81%. Compared to all cryptocurrencies, post volume for Compound currently ranks at 790. Keep an eye on changes to social metrics as they can be key indicators of the influence and reach of Compound.
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Posts
7,174
Contributors
5,654
Interactions
6,628,041
Sentiment
81%
Volume rank
#790
X
Posts
1,735
Interactions
418,816
Sentiment
73%
Compound FAQ
How much is 1 Compound worth today?
Currently, one Compound is worth $43.6600. For answers and insight into Compound's price action, you're in the right place. Explore the latest Compound charts and trade responsibly with OKX.
What is cryptocurrency?
Cryptocurrencies, such as Compound, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX and their different attributes, which includes live prices and real-time charts.
When was cryptocurrency invented?
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as Compound have been created as well.
Watch this video to learn about what happens when you move your money to a crypto exchange.
Disclaimer
The social content on this page ("Content"), including but not limited to tweets and statistics provided by LunarCrush, is sourced from third parties and provided "as is" for informational purposes only. OKX does not guarantee the quality or accuracy of the Content, and the Content does not represent the views of OKX. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly. The price and performance of the digital assets are not guaranteed and may change without notice. OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. For further details, please refer to our Terms of Use and Risk Warning. By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates (“OKX”) are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets. Product may not be available in all jurisdictions.
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