Maple Finance’s native token, SYRUP, is drawing significant attention after reaching a new all-time high in Total Value Locked (TVL), signaling strong interest from investors. Over the past month, SYRUP’s value has surged more than 40%, including a 3.34% increase in the last 24 hours alone. This bullish momentum comes as liquidity continues to pour into the Maple Finance protocol, lifting TVL to $2.588 billion as of 5 July 2025. The rapid increase in TVL, backed by both retail investors and institutional “smart money,” suggests growing confidence in SYRUP’s long-term value. However, not all market participants share the bullish sentiment, with derivatives traders showing signs of resistance.

The influx of capital into SYRUP has been most evident on-chain, with data from DeFiLlama revealing that Maple Finance has experienced a steady rise in liquidity over the past 30 days, amounting to a 26% increase in TVL. This is indicative of a sustained accumulation trend. Investors are increasingly depositing SYRUP into the protocol, reinforcing the perception that long-term holders see value in the project’s fundamentals and potential upside. This consistent inflow highlights strong demand and confidence among market participants who are engaging with the platform’s lending and borrowing capabilities.

Further supporting the bullish case is the role of smart money in recent market activity. According to blockchain analytics platform Nansen, these high-performance investors accumulated $1.56 million worth of SYRUP in a single day, bringing their total for the week to $5.6 million. Smart money is often considered a leading indicator of price direction due to its historically high success rate in timing the market. Their activity is typically data-driven and strategic, lending credibility to the belief that SYRUP may continue to rally.

At the same time, the spot market has mirrored this trend. CoinGlass data shows that retail investors have been actively accumulating SYRUP over the past four days, with net positive inflows totaling $1.2 million. Interestingly, most of this accumulation was followed by withdrawals into private wallets, suggesting these buyers are positioning for long-term holding rather than short-term speculation. This combination of retail and institutional accumulation underpins a strong bullish narrative in the spot market.

Despite these positive indicators, the derivatives market tells a different story. While the spot and on-chain segments lean bullish, many derivative traders are positioning against further upward movement. This divergence is evident in the Open Interest Weighted Funding Rate, which dropped into negative territory, currently sitting at -0.0104%. A negative funding rate often reflects that traders are paying a premium to maintain short positions, a clear sign of bearish sentiment.

This opposing view introduces a critical caveat. If the derivatives market continues to lean bearish, it could temporarily halt SYRUP’s upward momentum. The current funding rate suggests a looming corrective phase, where price consolidation or even a minor dip could occur before any further breakout.

From a technical perspective, SYRUP’s price action reflects this duality. The asset is currently trading within a symmetrical triangle pattern—a structure known to precede breakout moves in either direction. At the time of writing, SYRUP was approaching the lower bound of this triangle, which aligns with a support level at $0.5344. If SYRUP successfully rebounds from this level, a 6% rally could follow, lifting the price toward $0.5689. This would validate the bullish structure and signal continued market strength.

However, a failure to hold the support could spell trouble. If the price breaks down below the $0.5344 mark, the symmetrical triangle would be invalidated, and SYRUP could fall to $0.5269—a level that might trigger additional selling and shake market confidence.

In conclusion, SYRUP’s fundamentals and capital inflows point to strong long-term growth potential. The rise in TVL and accumulation by smart money and retail investors support a bullish case. However, the growing bearish sentiment in derivatives markets cannot be ignored. Whether SYRUP continues its rally or enters a corrective phase depends on how these opposing forces play out in the coming days. Traders and investors should closely monitor support levels, funding rates, and market participation to gauge the next move.