Decentralized Finance Surges

Decentralized finance (DeFi) protocol Maple Finance (SYRUP) has overcome bearish sentiment, rising by 23% in the past 24 hours after being listed on Upbit, South Korea’s largest exchange.

Daily volume increased from $230 million to $862 million following the listing as traders rushed to purchase SYRUP, despite a broader crypto market pullback.

BTC retreated back to $116,000 on Monday, with other assets like SOL failing to impress, sliding another 2% to $180, erasing previous gains.

SYRUP is well-positioned for further upside due to governance proposal MIP-018 which suggests increasing token buybacks using protocol revenue. Voting began on July 25.

From a technical standpoint, SYRUP is in clear breakout territory, supported by significant volume and momentum. It spiked to a new record high of 68 cents before retreating to 59 cents.

Read more: Bitcoin Slides to $115K as Dow Jones’ Rally Stalls at December-January High