- Grayscale announced U.S based authorized investors can publicly buy and sell DEFG shares
- Compound exposure is 4.09% in DeFi fund
- COMP/USDT is trading at $39.31 with a nominal intraday gain of 0.18% The volume to market cap ratio at 0.0775
After the press release, The Compound prices had not reacted much but triggered some positive momentum which managed to break the previous day high and session end at $39.27 with gains of 1.18%
Grayscale first launched its DeFi fund in 2021 but restricted its trading only to authorized private investors, However on December 9, Company announced that DEGF shares are available to the public for trading in Over-The-Counter market. DEGF enables investors to purchase some of outstanding 233,930 shares and gain exposure to a diversified basket of DeFi assets in a single investment vehicle.
Will COMP gain the investors attention ?
On a higher time frame, COMP prices had seen minor rallies in the months of June and August towards $70 but got rejected twice from the higher levels which will act as a strong supply zone in coming months. As of now, COMP had lost almost 80% previous gains from the higher levels and consolidating in the range between $35 to $40
The 200 day ema(green) sloping down indicates a trend to remain in bear grip.The 50 day ema (pink) will act as pullback resistance for the bulls followed by next resistance at $50.The RSI at 50 indicates neutral zone with the equal level of buyers and sellers on the same level, whereas the volume bars keep on decreasing as compared to previous session indicates price may be less volatile in coming months.
Smaller time frame narrative
On a lower time frame, the COMP prices have been squeezed in the range between $35 to $40 and are likely to break out/breakdown in the coming few weeks. As of now bulls have succeeded to defend the $35 support and supertrend indicator also generated…
