Maple Finance’s TVL breaks records as SYRUP reaches $0.62 all-time high | Credit: Hameem Sarwar
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Key Takeaways
Data shows a massive increase in wallet retention, indicating that SYRUP holders are opting against selling.
DeFiLlama reports that Maple Finance’s TVL has hit an all-time high, boosting SYRUP’s utility narrative.
After breaking above a falling channel, the CMF at 0.35 and RSI suggest that SYRUP could close in on $1.
SYRUP, the native token of the Maple Finance project, has soared to a new all-time high. Over the past 30 days, SYRUP’s price has surged by 40%, reaching $0.62 today.
On-chain data shows low exchange inflows and sustained wallet retention. As a result of the move, the altcoin is the top-performing asset out of the top 300.
In this analysis, we break down the key factors that propelled SYRUP to its new all-time high and explore what lies ahead for the token.
Maple Finance Delivers on Long-Term Trust
Taking an on-chain perspective, it is clear that SYRUP holders played a massive role in driving the token to its new all-time high.
According to data from Glassnode, SYRUP’s holder retention rate has climbed to 67.55%.
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This marks a notable surge from the beginning of the month, when the metric stood at just 54.86%. Around that period, SYRUP’s price was trading around $0.35.
For context, the holder retention rate tracks the percentage of addresses that maintain a balance of the asset across consecutive 30-day periods.
Therefore, the rise in holder retention and altcoin’s price highlights growing confidence in Maple Finance’s ecosystem. But confidence in SYRUP’s potential did to end with a lack of selling pressure.
DeFiLlama’s data shows that Maple Finance’s Total Value Locked (TVL) has also hit a new all-time high. At press time, it had reached $1.58 billion.
It also adds weight to SYRUP’s recent price rally, as higher capital inflows signal increased utility. If sustained, this could drive SYRUP’s price higher than it currently is.
SYRUP Price Analysis: Nearly Overbought
From a technical perspective, the 4-hour chart reveals that SYRUP’s price began its ascent toward its record high on Sunday, June 22.
Around that time, the altcoin broke above the upper trendline of a falling channel, placing buyers in control.
The Chaikin Money Flow (CMF) has climbed above the zero signal line. Currently reading at 0.35, the CMF indicates intense buying pressure and sustained capital inflows.
In addition, the Relative Strength Index (RSI) has surged, confirming growing bullish momentum.
If this trend continues, SYRUP’s price could rally toward a fresh all-time high of $1. However, traders might need to be cautious.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
Ryan is the Managing Editor at CCN, specializing in the crypto markets with a strong focus on technical and on-chain analysis across a broad spectrum of digital assets. His areas of expertise include Layer-1 and Layer-2 solutions, artificial intelligence (AI), real-world assets (RWA), decentralized finance (DeFi), decentralized physical infrastructure networks (DePIN), meme coins, and altcoins.
Before his current role, Ryan worked as a managing editor for BeinCrypto, while also contributing to Blockchain.com as a customer success associate, where he played a pivotal role in launching the company's margin trading product. He also has extensive experience in the financial sector, having served as a sales manager for foreign exchange brokerages such as Tradeview Markets and IronFX.
Ryan holds a bachelor's degree in Marketing and an honors degree in Business from the University of South Africa.
