SYRUP Defies Market Chaos: What’s Driving Its 30% Surge Amid Crypto Bloodbath?
While Bitcoin and Ethereum bleed red, one altcoin is laughing all the way to the exchange. SYRUP's 30% pump this week raises eyebrows—and trader FOMO.
The Sweet Exception
Most tokens move with the market tide. Not SYRUP. The decentralized yield aggregator keeps stacking gains while competitors drown in liquidations. No major protocol upgrades, no VCs dumping bags—just pure, unfiltered demand.
Whale Watching
On-chain sleuths spot accumulation patterns. Someone knows something, or someone's painting the tape. Either way, retail's piling in—because nothing excites like a green candle in a sea of despair.
The Cynic's Take
Remember: every 'uncorrelated asset' eventually correlates. Especially when hedge funds need exit liquidity. Enjoy the sugar rush while it lasts.
Upbit adds SYRUP trading pairs, boosting visibility
The surge was triggered by the July 25 listing of SYRUP on Upbit, South Korea’s largest exchange. Trading opened at 06:00 UTC. The listing added KRW, BTC, and Tether (USDT) spot trading pairs, expanding liquidity and opening the door for Korean retail and institutional investors. The move follows earlier listings on Coinbase and Binance this month.
Upbit also launched a promotional campaign to drive retail engagement, offering a prize pool of 228,000 SYRUP tokens. A $6,666 “super jackpot” was awarded to a participant on July 24, with winners required to claim within 24 hours.
Governance vote and buyback proposal underway
The Maple Finance community is voting on MIP-018, a governance proposal that WOULD increase the portion of protocol revenue allocated to token buybacks from 20% to 25%. If approved, the change could have an impact on SYRUP’s long-term value and staking returns.
MIP-018 Buy Backs discussion is open.
With revenue reaching $15M ARR, Maple proposes raising $SYRUP buybacks from 20% to 25% for increased staking rewards.
Voting opens Friday, July 25. pic.twitter.com/V2qttUU8jC
The developments coincide with Maple Finance’s partnership with Cantor Fitzgerald to increase institutional access to on-chain credit markets.
SYRUP technical analysis: Is there room for more upside?
With price action creating higher highs and higher lows over the past week, the token is still in an upward trend. The short-term support zone on the daily chart is located between $0.56 and $0.58, which was the range of consolidation before the breakout. As long as SYRUP holds above this level, the structure remains bullish.
At 67, the Relative Strength Index is approaching the overbought level but does not yet indicate exhaustion. Although its histogram is flattening, showing that momentum is stalling, the MACD is still in positive territory. Bollinger Bands are widening, indicating increased volatility, and the price is hugging the upper band, indicating ongoing buying pressure.
A close above $0.6532 could lead to continuation toward $0.70, supported by sustained derivatives interest and exchange activity. A drop below $0.56 would signal a potential retracement toward the $0.50–$0.52 support zone.
