SYRUP Price Surges as TVL Nears $3B on Strong Maple Finance Performance

The price of SYRUP has surged 14% in just one day, reaching a new high as total value locked (TVL) on Maple Finance approaches $3 billion.

This growth is largely due to the protocol's strong performance at the level of its operations. According to DeFiLlama, Maple Finance generated approximately $1.13 million in profit last month, although this still trails behind April's record-breaking figure of $1.32 million.

The TVL metric has crossed $3 billion for the second time this year, with a peak value of $3.07 billion reached on August 25th before falling to $2.97 billion at press time.

Further analysis by CoinGlass shows that traders have been taking long positions on SYRUP contracts in large numbers, with open interest rising 26% over the past day to reach $29 million. The funding rate remains positive but is showing signs of stability rather than increase.