South Korea’s Upbit Lists Compound (COMP) – Price Spiked by Over 50%
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Key Points
- South Korea’s Upbit announced the listing of COMP/KRW pair.
- COMP’s price spiked following the crypto exchange’s announcement.
The biggest crypto exchange in South Korea, Upbit, announced the listing of Compound (COMP) today, triggering a significant price spike for the digital asset.
Compound (COMP) is a DeFi lending protocol, allowing users to earn interest on their crypto by depositing it into one of the several pools that are supported by the platform.
The dApp works on Ethereum and permits users to lend, borrow, and earn interest in crypto. Compound automates the process of matching lenders and borrowers by mixing crypto funds into liquidity pools, and rewards users who place coins by transferring the earned interest into their wallets.
The automated process takes place via smart contracts built into Compound’s native cTokens.
Upbit also announced the new trading pair launch via X.
Compound(COMP) KRW Market Support
Supported Market : KRW Market
Trading opens at: 2025-04-01 16:35 KST estimated
Discover more:https://t.co/oibeKkhp0d#Upbit #COMP@compoundfinance pic.twitter.com/4UO1Who4Et
— Upbit Korea (@Official_Upbit) April 1, 2025
Upbit’s COMP Listing Announcement
Earlier, Upbit revealed that it would list the COMP/KRW trading pair on Ethereum.
The pair is scheduled for launch at 16:35 South Korean time.
Following the crypto exchange’s announcement, the price of COMP spiked significantly.
COMP Price Surged
Ahead of Upbit‘s notes, COMP was trading over $40, with a market cap of over $361 million. Following the crypto exchange’s announcement, COMP’s price spiked by over 50%, topping $71 and reaching a market cap of over $635 million.
COMP’s price cooled off to current levels after the initial spike.
At the moment of writing this article, COMP is trading above $60, with a market cap of over $540 million.
COMP is up by almost 57% in the past 24 hours. The 24-hour trading volume for the digital asset is almost $130 million, up by more than 448%.
