- COMP’s price increased by over 80% within a week after founder Robert Leshner left Compound.
- However, as many begin to take profits, COMP’s value has decreased in the last month.
The value of Compound [COMP] rallied by 83% a week after the project’s founder Robert Leshner exited the project and announced the launch of Superstate on 28 June. Now shedding most of its gains, the alt’s price has plummeted by double digits since August began.
Read Compound’s [COMP] Price Prediction 2023-24
At press time, COMP traded at $56.81. With a 28% decline in value in the last week, it ranked as the crypto asset with the most losses.
Pyrrhic victory after Leshner’s exit
On 28 June, Leshner announced his departure from the lending protocol and made filings for the registration of his new company Superstate. This company will create a short-term government bond fund that uses the Ethereum blockchain as a secondary record-keeping system.
Today, I’m excited to announce the founding of a new company, @superstatefunds
Superstate’s mission is to create regulated financial products that bridge traditional markets & blockchain ecosystems.
— Robert Leshner (@rleshner) June 28, 2023
In a recent
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Author: Abiodun Oladokun
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