Bitcoin and Ethereum are pulling back, but Compound (COMP) is surging higher. The native governance token of the flagship of the decentralized finance space, COMP has gained 15% in the past 24 hours as per Coin Market Cap.
This comes after the altcoin was embroiled in a multi-week bear market after an initial surge in June. Many attribute the ongoing bull market to the launch of Compound, which spurred interest in DeFi, then Ethereum, then Bitcoin.
With bulls seemingly back in control of COMP, traders are wondering what comes next for the Ethereum-based asset.
Compound is pushing higher after plunging lower after its initial spike in June. …