DeFi-Nitely a Bubble? Seller Blamed as COMP Crashes 45% on Coinbase
A frenetic day of trading on Coinbase Pro saw unusual activity from what seems to be an early investor in Compound, which briefly hit $427. The rapid growth in the price of so-called decentralized finance (DeFi) tokens is raising fresh suspicions after one altcoin hit $427. In a curious sequence of events still unfolding on exchanges, DeFi token Compound (COMP) posted huge gains before crashing almost 50%. Research warns over COMP shorting Compound, an ERC-20 altcoin on Ethereum, launched on US exchange Coinbase Pro this week.
Coin Telegraph - 24th Jun 12:06