SYRUP Attracts Whales, Surges 25%
The price of Maple Finance’s SYRUP token has reached $0.65, its highest level since July 11, recording a 33% increase from its daily low. This growth was accompanied by high trading volume, with $216 million exchanged in 24 hours.
On-chain data shows Maple network growth accelerating, with total value locked (TVL) jumping to a record $2.13 billion, well beyond the January low of $275 million. Maple’s total assets under management have also reached an all-time high of $3.16 billion.
Whales Accumulating SYRUP Token
Technical analysis indicates that the SYRUP token has broken through key technical levels, including the 50 and 25-period moving averages, as well as the resistance of a descending wedge pattern. This suggests investors, particularly whales, have taken advantage of the recent price drop to strengthen their positions. The rise also coincides with the announcement of the token’s listing on UpBit, South Korea’s largest exchange.
Indeed, data shows that whales now hold 3.3 million SYRUP tokens, up from just 9.48 million on Wednesday. Their stake has reached its highest level since July 22. Meanwhile, “smart money” has also increased its exposure to 17.53 million tokens.
Record Profitability for Maple Finance
This impressive growth in assets under management has translated into strong profitability for Maple Finance. Its net revenue jumped to $988,000 in the second quarter, compared to just $207,000 a year earlier.
The Blue Chip Secured Lending Fund has over $169 million in assets and offers a net yield of 7.1%, while the High Yield Secured Lending Fund shows more than $502 million in assets with a yield of 10%.
In conclusion, the rise in SYRUP token price, driven by whale appetite, and the record growth in Maple Finance’s assets under management demonstrate the strength and profitability of this DeFi protocol. Savvy investors will undoubtedly keep a close eye on the next steps of this promising project.
How to Buy SYRUP on Bitget ?
Currently at $0.59, SYRUP could go beyond $0.84 soon if it maintains above $0.55. Subsequently, the psychological threshold of $1 will be one to watch.
But SYRUP has all indicators pointing toward a bullish continuation. To capitalize on this uptrend, here’s a guide to easily obtain the token:
- Create a Bitget account : Visit the official Bitget website or download the mobile app. Sign up with your email or phone number, then complete identity verification (KYC).
- Deposit funds : Log in and access the “Deposit” section. Add fiat currencies (EUR, USD, etc.) via bank card or SEPA transfer, or transfer cryptocurrencies like USDT.
- Buy the token : Navigate to the “Quick Buy” or “Spot Market” section. Select the SYRUP/USDT pair, indicate the desired amount, and confirm the purchase, with limit order options available.
