Compound plunges 10% below key support – How low can COMP go?

Compound [COMP] declined 10.09% as the broader altcoin and DeFi sell-off gripped crypto markets, extending losses across risk-sensitive assets. The price contraction emerged as broader capital rotated away from riskier assets in the midst of cooling institutional demand and shrinking market sentiment. Besides, trading activity around the token expanded rapidly amid the downturn, reflecting growing participation during the sell-off. In particular, COMP's 24-hour spot trading volume exploded 180.8% to $43.01 million. The broader DeFi downturn, meanwhile, continued weighing on Compound, which raised concerns regarding its recovery attempts. Compound derivatives activity explodes as traders exit positions The selling pressure was also mirrored in COMP's derivatives market, where market participants reduced their outstanding exposure.

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