↑ Pendle (PENDLE): The DeFi Token Rising Against Odds
Pendle (PENDLE) , a DeFi protocol for yield market pioneers, continues to make waves in the cryptocurrency landscape. The recent surge in its...
In the crypto sphere, Pendle has been making a steady noise recently with varying forecasts centered around it. The year 2025 is predicted to be a steady one for Pendle before it experiences notable highs. It is expanding its yield opportunities providing Bitcoin holders with new BTC pools and offering high yields up to 45% in these pools. Despite the high volatility of cryptocurrencies, the price of Pendle appears to be back on track as derivative traders turn their interest to it. It's hitting milestones with over 2 million tokens, worth an estimated $11 million, moved to Binance.
However, not all sentiment is bullish, as Arthur Hayes, BitMEX Founder, significantly reduced his Pendle holdings. Still, he is said to be doubling down on Dogecoin and one DeFi altcoin amid a crypto market downturn. A significant win was secured by Pendle as its DeFi platform reportedly saved $105 million after a major hack. The ongoing penetration of the real-world asset market is further ensuring profit windows for Pendle Finance users. Innovation continues, Pendle recently announced the creation of liquid restaking tokens on Arbitrum.
Moreover, the surge of Pendle has been attributed to its innovative yield tokenization where users can earn and farm yield and boost their APY. Furthermore, a significant investment from Binance Labs is touted to scale DeFi yield opportunities on Pendle Finance and drive adoptions for LSDfi. However, in contrast to these positive actions, the continuous decline in Pendle's Total Value Locked (TVL) poses questions on what could be behind this exodus. Yet, the potential for gains remains with some predicting that Pendle price could surge to $10.
PENDLE Coin News Analytics from Tue, 25 Apr 2023 07:50:32 GMT to Tue, 11 Feb 2025 20:16:00 GMT - Rating 6 - Innovation 7 - Information 8 - Rumor -2
