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Pendle (PENDLE) has surged past $5 for the first time, driven by a record high total value locked (TVL) of $7.8 billion and a wave of new integrations that are fueling a strong rally in the DeFi space. The token's 24-hour price gain reached 6.4%, with a weekly increase of over 36%, according to CoinGecko data. Daily trading volume has also remained robust, exceeding $312 million [1].
The TVL milestone marks a 56% increase over the past 30 days, highlighting the growing confidence from both retail and institutional participants. HyperEVM pools alone have surpassed $100 million in TVL, while sUSDe pools have reached full capacity, reflecting increased demand and user engagement. Crypto analyst Rain (@raintures) noted that this momentum is not accidental but a result of meaningful onchain activity and deeper capital inflows [2].
Recent integrations with protocols such as Ethena and
have further accelerated Pendle’s growth. Notably, PT-USDe looping on Aave generated over $3.3 billion in collateral and increased supply by $3.7 billion in just 20 days. These partnerships enhance capital efficiency and open up new yield-generation opportunities for users, expanding the protocol’s utility and attracting fresh liquidity [1].In addition to strategic collaborations, Pendle has launched Boros, a new feature that enables onchain funding rate trading for BTC and ETH perpetual markets. This development broadens yield-hunting strategies and introduces more sophisticated DeFi tools to the platform. Protocol upgrades, including reduced swap fees and dynamic caps based on fee contributions, are also being implemented to improve user experience and support long-term liquidity sustainability [2].
Euler Finance’s decision to support Pendle’s new PT tokens as collateral has expanded borrowing options, while the AEON partnership allows $PENDLE to be used for payments at over 20 million merchants globally. These developments signal a shift toward a more comprehensive fixed yield infrastructure and greater real-world utility for the token [1].
Technical analysts have also highlighted positive signals for Pendle’s price movement. Rekt Capital noted that the token has broken out of a bull flag pattern, with a 30% rally since the breakout. It is now testing resistance within a macro wedge formation. Holding the current support zone could see the token move toward the top of this pattern, offering further upside potential [3].
Pendle’s ecosystem growth and innovation have positioned it as a standout performer in the DeFi space. With expanding liquidity, new integrations, and increasing institutional interest, the token appears to be building a strong foundation for sustained growth. Whether this momentum continues will depend on the protocol’s ability to maintain security and scale its infrastructure effectively as it integrates with additional platforms [2].
Sources:
[1] Pendle TVL and price performance, (https://pendle.finance/)
[2] DeFi market analysis and protocol integrations, (https://defi.tools/)
[3] Yield token market insights, (https://coindesk.com/)

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