  We present magnetic torque measurements on the Shastry-Sutherland quantum
spin system SrCu$_2$(BO$_3$)$_2$ in fields up to 31 T and temperatures down to
50 mK. A new quantum phase is observed in a 1 T field range above the 1/8
plateau, in agreement with recent NMR results. Since the presence of the DM
coupling precludes the existence of a true Bose-Einstein condensation and the
formation of a supersolid phase in SrCu$_2$(BO$_3$)$_2$, the exact nature of
the new phase in the vicinity of the plateau remains to be explained.
Comparison between magnetization and torque data reveals a huge contribution of
the Dzyaloshinskii-Moriya interaction to the torque response. Finally, our
measurements demonstrate the existence of a supercooling due to adiabatic
magnetocaloric effects in pulsed field experiments.
