Maple Finance Token withdrew on Wednesday, even after Bitcoin had risen to a record high and the developers announced major changes in his network.
Maple (syrup) price fell for three consecutive days and reached a low of $ 0.3460-down 9.40% compared to the high of $ 0.3845.
In a statement, Maple said that it would consolidate all its institutional and permissionless offers under the Maple brand. This change means that syrup will no longer work as a standing protocol. Instead, the activum of the SyrupusDC becomes a maple product that is available for all eligible participants in the chain.
The blue chip and the range of high efficiency will continue to work as they are, and provide overweight loans to institutions. Sid Powell, the CEO, said:
“Uniting the brand lets us deliver that experience without fragmentation and reinforces our role as a go-to-acut manager for the next era of decentralized finances.”
Maple has become one of the largest players in decentralized financing, so that users can deposit their crypto and borrow others. In contrast to other credit protocols, Maple’s credit activities focus on companies and other institutions.
Data shows that the Maple assets have risen to $ 1.6 billion under managed, while the original loans on its platform have risen to $ 7 billion.
Sirup, Maple’s token, has been one of the best artists in recent weeks, who rose more than 312% from the lowest level in April. This increase came when the growth of the ecosystem accelerated and was mentioned by various fairs, including Binance and Bybit.
SIROPROOPH PROCESS TECHNICAL Analysis
The eight -hour graph shows that the syrupe price was a double top pattern for $ 0.3828. The neckline was $ 0.3110, which coincided with the 23.6% Fibonacci retracement level. A double top is one of the most bearish patterns in technical analysis.
The average directional index, which measures the strength of a trend, has fallen from 60 to 38.9. That is why it is likely that the currency will be further confronted, with the next target $ 0.31, the 23.6% retracement level.
A drop under that support would indicate more sales pressure, possibly in the direction of the 50% retracement level at $ 0.2345, a decrease of 33% compared to the current price. A movement above the double top would make the Bearish front views invalid.
