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2d ago

SYRUP Token Nears All-Time Peak Following Upbit Listing

Record trading volumes on South Korea’s largest exchange precede a vote to expand token buybacks.

Maple Finance token SYRUP up 20% in a day after Upbit listing, faces challenges at local highs
syrup

Overview

  • The token’s July 25 listing on Upbit introduced KRW, BTC and USDT trading pairs, sending its price up 30% and driving 24-hour volume past $800 million.
  • SYRUP is trading around $0.65, just shy of its $0.6532 all-time peak and reflecting sustained upward momentum.
  • Derivatives markets showed a 56% rise in open interest to $135.7 million, highlighting increased speculative leverage.
  • A governance vote on MIP-018 remains open and would boost the share of protocol revenue devoted to SYRUP buybacks from 20% to 25%.
  • Maple Finance reported a 460% quarter-over-quarter jump in syrupUSD assets under management to $1.87 billion and has partnered with Cantor Fitzgerald to expand institutional on-chain lending.