Pendle TVL Surpasses $10 Billion in Two Weeks

Pendle’s Total Value Locked (TVL) has surpassed $10 billion, marking a historic milestone in the decentralized finance (DeFi) sector. The achievement, announced by CEO TN Lee across multiple platforms, highlights the growing influence of the yield trading protocol as it becomes one of the few DeFi projects to reach such a high threshold [1][2][3]. This record TVL reflects a rapid influx of capital, with the figure rising from $8.3 billion to over $10 billion within just two weeks, underscoring the platform’s increasing appeal among both retail and institutional investors [4].

The surge has been attributed to strategic protocol updates, expanding market demand for yield-bearing assets, and the broader evolution of DeFi toward more sophisticated tools for liquidity and yield management. TN Lee emphasized that the milestone is the result of the team’s continuous innovation and strategic integrations, positioning Pendle as a key player in the next phase of DeFi development [5]. The growth also coincides with rising token valuations and heightened engagement, signaling a broader shift in market dynamics [6].

Despite the impressive TVL figure, the platform’s market capitalization remains significantly lower, estimated at around $1.4 billion. This disparity underscores the distinction between the value of assets deployed on Pendle and the market value of its native token. However, the TVL surge indicates strong demand for the platform’s services and growing trust in its infrastructure [6]. Analysts have linked the growth to broader macroeconomic trends, including increased institutional adoption and the pursuit of advanced yield strategies in a competitive DeFi environment [6].

The record TVL raises important questions about the platform’s long-term sustainability and capacity to manage such a large volume of locked assets. While the current figures are a strong indicator of success, future performance will depend on Pendle’s ability to adapt to evolving market conditions, regulatory developments, and shifting investor expectations [5]. The platform now joins a select group of protocols with multi-billion-dollar TVLs, reinforcing its role in shaping the future of DeFi [4].

The milestone has been widely covered by major crypto news platforms, including Binance, Phemex, and KuCoin, which have highlighted Pendle’s growing prominence in the ecosystem. As TN Lee stated, “Pendle platform’s Total Value Locked (TVL) has exceeded $10 billion, marking a historic high. This milestone reflects the platform’s growing influence and success in the cryptocurrency industry.” The achievement not only cements Pendle’s position as a leader in yield trading but also signals a turning point in DeFi’s broader trajectory [1][2][3].

Source:

[1] The Economic Times - https://m.economictimes.com/crypto-news-today-live-23-aug-2025/liveblog/123461063.cms

[2] Phemex - https://phemex.com/news/article/pendle-tvl-exceeds-10-billion-achieving-record-high_15919

[3] Binance - https://www.binance.com/en/square/post/28683992534073

[4] KuCoin - https://www.kucoin.com/news/flash/pendle-tvl-surpasses-10-billion-sets-new-record

[5] Odaily - https://www.odaily.news/en/newsflash/444697

[6] Token Metrics - https://www.tokenmetrics.com/blog/understanding-web3-differs-todays-internet