#TradeStories
Here’s why SYRUP surged over 35% today
SYRUP jumped as much as 36% today, driven by strong ecosystem growth and whale accumulation.
On April 17, Maple Finance’s SYRUP token hit an intraday high of $0.15, putting it up more than 76% from its monthly low. At the time, its market cap sat around $128.8 million, and daily trading volume surged 157% to over $10.7 million.
Much of the hype came from rising demand in Maple’s derivatives market, too, as open interest in SYRUP futures shot up 90% in a day, reaching $359.6k.
The rally is largely tied to growing excitement around Maple Finance’s expanding ecosystem, which recently crossed $1 billion in total value locked, placing it ahead of competitors like Ondo Finance and Clearpool.
Community members pointed out that Maple is now almost halfway to catching up with BlackRock’s $2.46 billion BUIDL fund. BUIDL is a tokenized U.S. Treasury fund and one of the biggest real-world asset products on-chain.
