PENDLE Surges 30% on Whale Activity and Yield Growth

PENDLE’s token has surged over 30% in a 24-hour period, outpacing a broader crypto market that gained roughly 3%. This sharp rise has drawn attention from traders and analysts, who attribute the price movement to a combination of whale activity, protocol-level growth, and on-chain demand for yield generation [1].

One of the most notable events was the transfer of 900,000 PENDLE tokens, valued at approximately $4.65 million, from a multisignature wallet linked to Pendle to Binance [1]. While such a transfer is often seen as a bearish signal, observers noted that the same wallet still holds over $135 million in PENDLE, suggesting that the move may be part of liquidity management or strategic positioning rather than a sell-off [1].

On the protocol side, Pendle’s total value locked (TVL) has surged to $5.2 billion, driven by the growing use of USDe, a stablecoin developed by Ethena Labs. USDe now makes up 60% of Pendle’s TVL, enabling looping yield strategies that generate recurring fees through a 5% fee on Principal Tokens [1]. This dynamic has created a self-reinforcing cycle, increasing the demand for PENDLE tokens as users seek to participate in yield-generating opportunities.

Additionally, Pendle’s recent expansion into HyperEVM pools and its partnerships with Aave and Ethena have significantly boosted liquidity and ecosystem growth [1]. These integrations have not only increased the TVL but also introduced new participants to the platform, further supporting the token’s price appreciation. The launch of Boros, a platform for trading crypto funding rates, added another dimension to Pendle’s offerings, enhancing its appeal to both retail and institutional investors [6].

Technically, PENDLE has broken out of a bull flag pattern, confirming a 30% rally in the short term [1]. The token is now testing key support levels above $5, with the potential to reestablish those levels as support for further gains. Analysts note that the current price action suggests the token is in the early stages of a larger consolidation pattern, with the possibility of moving toward higher levels if it continues to hold these key price points [1].

With the TVL reaching record highs and institutional accumulation visible through Arca-linked entities, the momentum appears to be genuine and backed by both on-chain activity and strategic product development [3]. Traders are now closely watching whether PENDLE can maintain its position above key support levels, as a sustained move higher could signal the start of a more prolonged bullish trend [1].

The confluence of whale activity, protocol growth, and technical strength has created a compelling case for PENDLE’s recent performance. Whether this surge marks a new phase of growth or a short-term spike will depend on how the token continues to perform in the coming days [1].

Source:

[1] Blockonomi - [https://blockonomi.com/why-is-pendle-price-pumping-today/](https://blockonomi.com/why-is-pendle-price-pumping-today/)

[3] AInvest - [https://www.ainvest.com/news/pendle-price-surges-11-boros-launch-institutional-accumulation-2508/](https://www.ainvest.com/news/pendle-price-surges-11-boros-launch-institutional-accumulation-2508/)

[6] OKX - [https://www.okx.com/learn/pendle-boros-arbitrum-funding-rate-trading](https://www.okx.com/learn/pendle-boros-arbitrum-funding-rate-trading)