COMP Surges 17.75% on Binance as SEC Chair’s DeFi Support Sparks $140M Trading Boom

Compound (COMP) experienced a significant price increase over the last 24 hours, rising 17.75% on Binance from an open of $45.92 to $54.07. This surge in price and trading volume is primarily attributed to heightened investor interest following recent public comments from the U.S. SEC Chair supporting DeFi principles, which boosted sentiment and activity across major exchanges. Notably, Binance and Upbit reported a combined $2.77 million increase in COMP trading volume within a 10-minute window, and overall 24-hour volumes surpassed $140 million. The current market overview shows COMP trading at $54.07 on Binance, with strong volume and renewed momentum, supported by its relatively low circulating supply and increased attention from both retail and institutional participants.