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Compound’s announcement of a dedicated foundation has sent shockwaves through the crypto market, with COMP experiencing a wild price swing in the process.
The token initially dropped by approximately 6% following the April 1st announcement, touching a low of $42. However, it then went on to surge 102% during an intraday rally before ultimately ending up trading at $43.68.
Despite this brief period of optimism, COMP’s price remains under pressure due to ongoing bearish sentiment and long-term holder selling.
Source: https://blockonomi.com/compound-comp-price-foundation-announcement-drives-6-drop-as-market-reacts/
