- Upbit listing triggers massive SYRUP rally and trading volume explosion
- Buyback proposal aims to boost SYRUP value for long-term holders
- Institutional partnership enhances Maple Finance’s presence in crypto lending markets
SYRUP, the native token of Maple Finance, surged over 33 percent in the past 24 hours, drawing sharp market attention. The rally followed a wave of developments, with trading volume jumping 244 percent to $452 million and market cap reaching $742 million.
According to Wu Blockchain on X, the catalyst behind the spike was the listing of SYRUP on Upbit, one of South Korea’s largest crypto exchanges. The listing provided new trades involving KRW, BTC, and USDT as a gateway to allow South Korean traders to enter the token.
This announcement of Upbit was also followed by a promotional giveaway in which 228,000 SYRUP tokens were offered. An outstanding feature of the campaign was a prize of a super jackpot worth 6,666 dollars, which saw thousands of participants in retail stores.
Such action repeats the trends that were preceded by tokens such as Ethena, WalletConnect Token, and DeepBook after they were placed on the same platform. Upbit is still proving to have a major impact on encouraging early trading.
Also Read: Further XRP Breakout Imminent as Analyst Points to Three Price Targets – See Chart
Governance Vote and Institutional Deal Drive Long-Term Optimism
Beyond the listing, Maple Finance recently secured a strategic partnership with Cantor Fitzgerald’s BTC lending desk. MapleLabs’ partnership enhances the del team name in institutional DeFi lending, which gives investors confidence in the SYRUP token.
Meanwhile, the community’s focus changed to an essential event of governance. The new proposal, MIP-018, was offered for voting and aims to raise the percentage of revenue on the protocol in buying SYRUP.
The proposal would increase buybacks to 25 percent at the expense of investing more money in supporting token values. Since Maple Finance generates $15 million a year in recurring revenue, the change may enhance staking incentives and benefit long-term holders.
Technically, SYRUP has performed a breaking pattern of an ascending triangle, and the closing pattern is much stronger above the price of $0.5736. There are signs of a bullish trend, as RSI is indicating above 78, and MACD indicates an upward trend.
The current resistance is observed at the prices of $0.65 and $0.75, whereas the known support is at $0.57 and $0.47.
Source: Tradingview
SYRUP’s sharp price movement reflects a mix of exchange exposure, community-driven governance, and growing institutional ties. The momentum has positioned the token as one of the day’s top performers.
Also Read: The XRP Institutional Takeover They Don’t Want You To See – Pundit Explains
