Maple Finance's SYRUP Bucks Bearish Crypto Slump With 23% Upside Move
Daily volume increased from $230 million to $862 million after the listing as traders poured in to buy SYRUP despite a wider crypto market pullback.
BTC retreated back to $116,000 on Monday as assets like SOL also failed to impress, sliding another 2% to $180 to erode the previous four days of gains.
SYRUP is also well poised for continuation to the upside in light of governance proposal MIP-018, which suggests increasing token buybacks using protocol revenue. Voting began on July 25.
From a technical perspective, SYRUP is in clear breakout territory with the move being backed by significant volume and momentum. It spiked to momentarily form a new record high on Friday, touching 68 cents before retreating back to 59 cents.
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