COMP up about 50% since listing. Trading around 270 now leading up to the Coinbase listing.
Is this the top? Or is it the calm before the storm?
TBH I have no idea.
ftx.com/trade/comp-perp for futures, ftx.com/trade/comp/usd for spot
Conversation
Funding finally calmed down 👏🏼
This market is slowly becoming efficient, next step is futures (June & Sept)
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I suspect the top will come shortly after the listing. Current pricing is shortage-driven, and after early purchasing dies down the demand should be overtaken by issuance. predicts early investors might cash out around the same time.
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It must be relieving to be phasing out of having to know that vs creating the space where people bet on it
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It's funny because this high price is actually breaking Compound. At this price you're getting paid in COMP for BORROWING money more than you are paying in interest, which puts incentive to borrow stupid amounts and put the whole system at risk of insolvency.
