Synthetix Network, a decentralized synthetic asset issuance protocol, is also surging, posting over 12% gains in the last day.
These price moves come amid a much more lethargic market for some of the industry’s biggest hitters.
Bitcoin and Ethereum, the two largest cryptocurrencies by market cap, have posted only 2% and 1% gains in the last 24 hours. Over the last seven days, both cryptocurrencies have dropped by 5% and 4% respectively.
Earlier this week, Compound was one of several new cryptocurrencies listed by Robinhood, a popular stock and crypto trading platform, including popular meme coin Shiba Inu (SHIB).