Understanding the exchange rate between Compound (COMP) and the Ugandan Shilling (UGX) is crucial for investors and users in the crypto space. This guide provides a comprehensive overview of the current conversion rates, historical data, and essential information for exchanging COMP to UGX.
Current COMP to UGX Exchange Rate
As of the latest update, the live exchange rate for Compound (COMP) to Ugandan Shilling (UGX) is:
1 COMP = 149,640.55 UGX
This means that for every Compound token you own, it is valued at approximately one hundred forty-nine thousand, six hundred forty Ugandan Shillings. It's important to note that cryptocurrency prices are highly volatile and can change rapidly. Therefore, always check the most recent rates before making any transactions.
Sample Conversions Based on Current Rate
- 5 COMP = 748,202.75 UGX
- 10 COMP = 1,496,405.49 UGX
- 50 COMP = 7,482,027.47 UGX
- 100 COMP = 14,964,054.94 UGX
- 500 COMP = 74,820,274.69 UGX
- 1000 COMP = 149,640,549.38 UGX
Conversely, to understand how much UGX is needed to purchase COMP:
- 1 UGX = 0.000006683 COMP
- 50 UGX = 0.00003341 COMP
- 100 UGX = 0.00006683 COMP
These calculations are based on the mid-market rate and do not include any potential platform fees or transaction costs, which can affect the final amount you receive or pay.
COMP to UGX Conversion Table
For quick reference, here is a table showing the Ugandan Shilling equivalent for various amounts of COMP.
| Compound (COMP) | Ugandan Shilling (UGX) |
|---|---|
| 1 COMP | 149,640.55 UGX |
| 10 COMP | 1,496,405.49 UGX |
| 50 COMP | 7,482,027.47 UGX |
| 100 COMP | 14,964,054.94 UGX |
| 200 COMP | 29,928,109.88 UGX |
| 500 COMP | 74,820,274.69 UGX |
| 1000 COMP | 149,640,549.38 UGX |
| 5000 COMP | 748,202,746.89 UGX |
| 10000 COMP | 1,496,405,493.79 UGX |
Historical Price Performance and Volatility
The COMP/UGX pair exhibits significant volatility, common in the cryptocurrency market. Monitoring past performance can provide context, though it is not a reliable indicator of future results.
Recent Trends:
- 24-hour change: +0.65%
- 7-day change: -4.50%
- 30-day change: +12.34%
- 90-day change: +5.40%
Historical Price Range:
- 7-day high: 186,365.10 UGX
- 7-day low: 157,147.92 UGX
- 30-day high: 224,368.65 UGX
- 30-day low: 141,227.91 UGX
This volatility is influenced by overall market sentiment, adoption news, and developments within the Compound protocol itself.
About Compound (COMP)
Compound is a leading decentralized finance (DeFi) protocol that allows users to lend and borrow cryptocurrencies. COMP is the native governance token of the Compound protocol. Holders of COMP can propose and vote on changes to the protocol, making it a community-governed project.
- Circulating Supply: 9,391,339 COMP
- Market Capitalization (in UGX): Sh1,405,325,081,948.37
- 24-hour Trading Volume (in UGX): Sh163,051,534,206.39
The protocol's innovative model for lending and borrowing has made it a fundamental building block in the DeFi ecosystem. 👉 Explore more strategies for managing crypto assets like COMP.
About the Ugandan Shilling (UGX)
The Ugandan Shilling (UGX) is the official currency of Uganda, introduced in 1966 to replace the East African shilling. It is a symbol of the nation's economic sovereignty and growth.
- Currency Code: UGX
- Currency Symbol: USh
The Bank of Uganda manages the currency, focusing on maintaining stability and controlling inflation. The shilling plays a vital role in the domestic economy, facilitating trade in key sectors such as agriculture, tourism, and manufacturing. Its value is also crucial for international trade, affecting the competitiveness of Ugandan exports like coffee and tea.
How to Convert COMP to UGX
Converting COMP to UGX typically involves a few steps, as direct pairs may not always be available on all exchanges.
- Choose a Cryptocurrency Exchange: Select a reputable platform that supports both COMP and UGX or a stablecoin like USDT.
- Sell COMP for a Stablecoin: If a direct COMP/UGX pair is unavailable, first trade your COMP for USDT.
- Sell Stablecoin for UGX: Once you have USDT, you can then sell it for UGX on the platform's peer-to-peer (P2P) or spot market.
Always compare fees and rates across different platforms to ensure you get the best possible deal for your conversion. 👉 Get advanced methods for executing crypto-to-fiat conversions.
Frequently Asked Questions
What is the current price of 1 COMP in UGX?
The current price of 1 Compound (COMP) is approximately 149,640.55 Ugandan Shillings (UGX). This rate fluctuates constantly due to market dynamics.
How can I calculate the exchange rate between COMP and UGX?
You can use an online cryptocurrency converter tool. Simply enter the amount of COMP you wish to convert, and the tool will display the equivalent value in UGX based on real-time market data.
What was the all-time high for COMP in UGX?
Compound reached its all-time high price of 3,272,875.25 UGX per token. The market continues to evolve, and future price movements are uncertain.
Is the price of COMP going up or down?
Over the past month, the price of COMP has increased by over 12% against UGX. However, it has decreased by nearly 4.5% over the past week. Short-term price trends are volatile.
What factors influence the COMP to UGX exchange rate?
The rate is influenced by general crypto market trends, supply and demand on exchanges, developments and news related to the Compound protocol, and broader economic factors affecting the value of the Ugandan Shilling.
Can I buy COMP directly with UGX?
While some platforms may offer a direct pairing, it is common to first purchase a stablecoin like USDT with UGX and then use that USDT to buy COMP on a spot trading market.