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The Compound price surged 5% in the last 24 hours to trade at $51.61 as of 03:26 p.m. EST on trading volume that skyrocketed 63% to $86 million.
This comes despite Compound Finance passing a recent proposal that allocates 499,000 COMP tokens currently worth about $24 million to a yield-bearing protocol controlled by ”he Golden Boys,” a group led by Humpy.
The community sparked claims of a governance attack from community members who allege that the group was able to strong-arm the proposal through the approval process after acquiring large numbers of tokens on the open market.
But a new forum post by Bryan Colligan at Compound indicates the proposal is to be withdrawn.
Compound Price To Surge, Bulls To Capitalize On The Double Bottom Pattern
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