Compound Becomes First DeFi Project With Over $10B TVL

[EAA-ALLAH]

Compound (COMP) has become the first-ever DeFi platform to cross the $10 billion TVL milestone, following impressive growth since the start of the year.
$10 billion surpassed
Decentralized finance (DeFi) lending platform, Compound Finance, now has over $10 billion in Total Value Locked (TVL), the first DeFi platform to reach that milestone. The figure puts it ahead of DeFi’s second most popular staking destination, Maker (MKR), which boasts a TVL of $8.2 billion, at press time.
The milestone follows months of impressive growth for Compound, which started the year with a TVL of less than $2 billion. This represents a five-fold increase in assets staked in the lending platform in just over three months.
Indeed, COMP’s price performance reflects the increased interest in its lending products, having tripled from $150 at the start of the year, to $449.98, at press time.
As well as ranking first in terms of TVL, COMP boasts a market capitalization of $2.3 billion, putting in 58th place in the overall cryptocurrency market, according to data from CoinGecko.
TVL is a measure of the value of assets committed to DeFi platform’s products. DeFi analysts often use the figure as a proxy to indicate demand for particular DeFi platforms. Source