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Maple Finance’s SYRUP Defies Market Downturn with 35% Weekly Gain
Maple Finance– While Bitcoin plunged below $116,000 triggering over $700 million in liquidations, Maple Finance’s SYRUP token bucked the trend with a sharp 30% rally in 24 hours, including a rapid 7% spike in under an hour.
SYRUP Nears All-Time High on Explosive Volume
At press time, SYRUP was trading at $0.614, climbing 35% over the past week and just 7% shy of its July 25 all-time high of $0.6532. This surge was fueled by a dramatic rise in derivatives activity.
Data from Coinglass reveals that SYRUP’s 24-hour trading volume skyrocketed 177.81% to $810 million, while open interest jumped 56.27% to $135.71 million — clear signs of growing speculative momentum and leveraged positions flooding the market.
Upbit Listing Sparks Massive Interest
The biggest catalyst? SYRUP’s listing on South Korea’s largest exchange, Upbit, on July 25. The addition of KRW, BTC, and USDT trading pairs opened the floodgates for Korean retail and institutional investors, significantly boosting liquidity and market exposure.
Upbit also ran a high-profile promotional campaign featuring a 228,000 SYRUP token prize pool, including a $6,666 “super jackpot” awarded on July 24 — fueling excitement and increased trading activity.
Governance Vote Could Boost Token Value
Meanwhile, Maple Finance’s community is currently voting on MIP-018, a governance proposal aiming to raise the protocol’s revenue allocation for token buybacks from 20% to 25%. If passed, this could enhance SYRUP’s long-term value and improve staking rewards, adding further appeal to investors.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
[…] Maple Finance is a transparent credit market that brings institutional borrowing on-chain. However, towards the end of 2024, the project underwent a significant evolution, refocusing its identity around the SYRUP brand and token. […]