Whales lose SYRUP sweet tooth despite Maple Finance’s growth
The post Whales lose SYRUP sweet tooth despite Maple Finance’s growth appeared on BitcoinEthereumNews.com. Despite Maple Finance’s impressive growth—nearing $1 billion in active loans and expanding its footprint to Solana—the platform’s native token, SYRUP, is showing signs of fatigue. After a staggering 355% rally from its April lows, the token has stalled, with on-chain data pointing to slowing user adoption and diminished whale interest. While the protocol’s fundamentals appear strong, technical indicators such as a bearish double-top pattern and weakening network activity suggest that SYRUP’s recent momentum may wane. At last check Sunday, Maple (SYRUP) price was trading at $0.40 — a few points below this month’s high of $0.4637. On-chain data shows that SYRUP’s network growth has plunged. It moved from 1,085 on May 9 to 37 today. This metric looks at the number of new accounts created each day. More data reveals that the daily active addresses have dropped from 285 on May 9 to 422. These numbers mean that the SYRUP token is not growing as it did in May, when it surged. SYRUP on-chain metrics | Source: Santiment Meanwhile, whales are also not buying the coin. Addresses holding between 10 million and 100 million SYRUP tokens now hold about 384 million, down from last week’s high of 395 million. Similarly, those holding between 1 million and 10 million tokens hold 228 million tokens, while those with between 100 million and 1 billion tokens have 458 million coins, down from 803 million in March. Maple Finance whale activity | Source: Santiment Maple Finance nears $1b in active loans On the positive side, Maple Finance’s network is growing. Active loans jumped to $998 million, meaning that they could hit $1 billion soon. This is a big increase since these loans stood at $220 million on Jan. 1. It also achieved $2 billion in assets under management. $2B AUM. In just 6 months,…
The post Whales lose SYRUP sweet tooth despite Maple Finance’s growth appeared on BitcoinEthereumNews.com.
Despite Maple Finance’s impressive growth—nearing $1 billion in active loans and expanding its footprint to Solana—the platform’s native token, SYRUP, is showing signs of fatigue. After a staggering 355% rally from its April lows, the token has stalled, with on-chain data pointing to slowing user adoption and diminished whale interest. While the protocol’s fundamentals appear strong, technical indicators such as a bearish double-top pattern and weakening network activity suggest that SYRUP’s recent momentum may wane. At last check Sunday, Maple (SYRUP) price was trading at $0.40 — a few points below this month’s high of $0.4637. On-chain data shows that SYRUP’s network growth has plunged. It moved from 1,085 on May 9 to 37 today. This metric looks at the number of new accounts created each day. More data reveals that the daily active addresses have dropped from 285 on May 9 to 422. These numbers mean that the SYRUP token is not growing as it did in May, when it surged. SYRUP on-chain metrics | Source: Santiment Meanwhile, whales are also not buying the coin. Addresses holding between 10 million and 100 million SYRUP tokens now hold about 384 million, down from last week’s high of 395 million. Similarly, those holding between 1 million and 10 million tokens hold 228 million tokens, while those with between 100 million and 1 billion tokens have 458 million coins, down from 803 million in March. Maple Finance whale activity | Source: Santiment Maple Finance nears $1b in active loans On the positive side, Maple Finance’s network is growing. Active loans jumped to $998 million, meaning that they could hit $1 billion soon. This is a big increase since these loans stood at $220 million on Jan. 1. It also achieved $2 billion in assets under management. $2B AUM. In just 6 months,…
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