Maple Finance’s SYRUP upbit listing token reached a 30-day high, trading volume also increased a lot
Maple Finance’s SYRUP token increased by 22% on Friday. It became one of the top-performing crypto coins of the day.
There are some important things behind this price jump:
- Token’s strong value and good planning
- Investors’ trust increased
- SYRUP’s listing on South Korea’s top exchange “Upbit Listing”
All these things increased people’s confidence, due to which people are buying more and the price has gone up fast.
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SYRUP Debuts on Upbit Exchange
SYRUP’s price is high as it is listed on Upbit, South Korea’s largest crypto exchange. SYRUP is listed on KRW, BTC, and USDT pairs.
After listing, both the token’s visibility and liquidity increased, after which its price reached a 30-day high of $0.61. Trading volume also increased by more than 360% and reached almost $900 million in 24 hours, while the overall crypto market went down by just 1.12%.
Strong Quarterly Performance
SYRUP’s price began to increase even more when Maple Finance shared its strong second-quarter report.
This week Maple said its stablecoin, syrupUSD, helped a lot, due to which its total assets increased by 460% to $1.87 billion.
Now Maple’s total AUM has gone up to $3.2 billion, and the company’s goal is to reach $5 billion by the end of the year.
Investors, especially large institutions, are taking more interest in Maple’s Bitcoin Yield product. So far more than $180 million has been invested in this product and it gives a return of 5.2%.
Token Buyback Plans
Maple Finance has also introduced a new proposal MIP-018. This proposal says that the token buyback share should be increased from 20% to 25%.
If approved, buybacks will start from Q3 2025, and the SYRUP tokens bought back will be given as staking rewards.
The community vote has started today.
On-chain data also supports the bullish trend. Large investors (whales) are continuously buying SYRUP, while the SYRUP available on exchanges is decreasing. This means that people are not selling and the supply is getting tight.
Why This Matters
SYRUP Upbit Listing price breakout shows that investors are increasing their trust in Maple Finance and DeFi (Decentralized Finance) remains strong despite the difficult crypto market.
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People Also Asked:
What is SYRUP?
SYRUP is a digital coin created by Maple Finance. Maple Finance is a DeFi platform where adults borrow and invest money.
What does Maple Finance offer?
Maple Finance offers some special products like syrupUSD, profit-making funds on Bitcoin, and other DeFi investment and loan options.
What does SYRUP buyback mean?
Maple Finance has planned to invest a larger portion of its earnings (20% to 25%) to buy back SYRUP coins. Due to this, those who keep the syrup will get reward and there will be less coins in the market.
