ICYMI: Compound’s outstanding debt on Ethereum hits $1 billion
on Ethereum surpassed $1 billion-- the highest it has been in a year, according to The Block's data dashboard.
The increase in outstanding debt represents a shift in the crypto market, which was hammered by a credit crisis in 2022. Across the board lenders from BlockFi to Celsius declared bankruptcy, resulting in a gap in crypto's market structure. On July 14, outstanding debt stood at $1.07 billion. Compound is a money market protocol where users can borrow and lend assets. Interest rates are determined algorithmically. COMP token holders govern the Compound protocol.© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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