COMP jumps 27% in a day while Compound's TVL stays below September

Compound’s COMP governance token rose 27.3% in the 24 hours to 1 p.m. ET on Oct. 20, trading at $27.38 after $21.51 the day before. The token for the lending protocol outpaced Bitcoin’s 0.96% and Ether’s 2.05% gains over the same period, and the move was not tied to any governance vote, partnership or announcement. Compound’s deposits, or total value locked, stood at $1.52 billion, 8.7% below the Sept. 21 level. COMP remained far below its record high of $854.45. The gain came amid a contested governance period: Proposal 612, which would increase the treasury withdrawal delay from two to ten days and let a timelock cancel transactions, won 1.89 million to 1.04 million but was canceled on Oct. 7.