Maple Syrup token has done well this year, helped by the growing inflows in its ecosystem. SYRUP coin has risen in the last five consecutive days, and was trading at $0.43, its highest point since May 29. It has jumped by over 396% from its lowest point this year.
Maple Finance is a top player in RWA
The Real World Asset (RWA) industry is one of the top sectors in crypto, and analysts believe that it has more room to grow in the next few years.
Data shows that the total assets in the RWA industry have jumped by almost 5% in the last 30 days to over $23 billion. Also, there are now over 113,000 RWA asset holders.
Maple Finance has become one of the top players in the crypto industry. It is at the intersection of decentralized finance (DeFi) and RWA.
Maple runs an institutional capital marketplace powered by the blockchain industry. It provides a platform that lets users invest and earn a return. These funds are offered as loans to vetted institutions.
Data shows that Maple Finance has a total value locked of over $1.46 billion. The borrowed funds are worth $680 million. These funds represent substantial growth considering that Maple started the year with less than $300 million in assets.
Over time, Maple Finance customers have borrowed over $7.2 billion and issued over 400 loans to qualified institutions.
Maple Finance has four key funds that users can invest money in. It has a high yield fund that offers an APY of 8.8%. This fund invests in loans that are overcollateralized by Bitcoin, Ethereum, and top altcoins.
The other fund, which offers an annual yield of about 6.9%, is known as the Blue Chip, and its collateralization is either Bitcoin or Ethereum.
Maple Finance also has a Bitcoin yield with a return of between 4% and 6%. It also has syrupUSD that pays an annual return of about 5%.
Why SYRUP price has surged
The Maple Syrup price has surged in the past few weeks after it was listed in several exchanges recently. It is now listed by companies like Binance, Bitget, and Coinbase.
Maple has also jumped because of the growing assets on its platform, a sign that it is a growing crypto project.
Further, the developers have continued to partner with some of the top names in the crypto industry. Some of the recent partnerships are with popular names like Spark, Pendle, and Binance.
Maple price has also jumped as the futures open interest has soared recently. It had an open interest of over $41 million, up from $25 million late last month.
SYRUP price prediction
The four-hour chart shows that the SYRUP price has been in a strong bull run in the past few months. It has moved from a low of $0.0855 in April to the current $0.4236.
The coin has moved above the 50-period and 25-period moving averages. Oscillators have continued rising, a sign that it is gaining momentum.
Therefore, the coin will likely continue soaring as bulls target the key resistance level at $0.4693. A move above that level will point to more gains, potentially to the resistance point at $0.50.
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