Decentralized lending protocol Compound’s excellent debt on Ethereum surpassed $1 billion– the best it has been in a 12 months, in line with The Block’s knowledge dashboard.
The rise in excellent debt represents a shift within the crypto market, which was hammered by a credit score disaster in 2022. Throughout the board lenders from BlockFi to Celsius declared chapter, leading to a spot in crypto’s market construction. On July 14, excellent debt stood at $1.07 billion.
Compound is a cash market protocol the place customers can borrow and lend belongings. Rates of interest are decided algorithmically. COMP token holders govern the Compound protocol.
