Why did the price of PENDLE go up?

Pendle (PENDLE) increased by 0.48% over the last 24 hours, reaching $4.70. However, it has declined over the past week (-10.35%) and month (-10.84%). This small rise comes amid ongoing growth in decentralized finance (DeFi) use and new partnerships with institutions, even though the overall market is weak.

1. Strong TVL milestone – Pendle’s Total Value Locked (TVL) remains above $10 billion, providing confidence.
2. Innovative yield products – The Boros platform is gaining users and expanding Pendle’s offerings.
3. Altcoin market trends – Favorable conditions for alternative cryptocurrencies continue (CMC Altseason Index at 69).

Deep Dive

1. Solid Protocol Fundamentals (Positive Outlook)

Pendle’s TVL is steady above $10 billion, with $78 million in annual fees and $180 million traded in the last 24 hours (Binance Square). This makes Pendle the top protocol for yield tokenization, ahead of competitors like Spectra Finance.

What this means: A high TVL shows strong and lasting interest from institutions, especially for Pendle’s fixed-rate yield products. About 30% of PENDLE tokens are locked for an average of 388 days, which helps reduce selling pressure.

2. Boros Platform Growth (Mixed Impact)

Pendle’s Boros platform, which allows trading of Bitcoin and Ethereum perpetual funding rates, reached $111 million in volume during its first week (TokenMetrics). However, limits on open interest ($10 million per market) may restrict short-term growth.

What this means: While Boros is innovative, its full potential depends on attracting more derivatives traders and expanding to other blockchain networks like Solana and TON.

3. Altcoin Sentiment Softens but Demand Remains

The CMC Altseason Index dropped to 69 from 77 last week, but Pendle continues to be recognized as a “DeFi blue chip” in institutional reports (CoinEx).

What this means: Pendle benefits from investors shifting toward altcoins with real revenue streams (like its $56.8 million in annual fees) rather than speculative projects.

Conclusion

Pendle’s small gain over 24 hours shows steady demand for structured yield products despite market volatility. Technical indicators suggest the token is oversold (RSI-14 at 43.98), but it’s important that the price stays within the $4.35 to $4.86 range to avoid a deeper drop.

Key point to watch: Will Boros maintain daily trading volume above $25 million this week to support Pendle’s $6.50 price target?

What is expected in the development of PENDLE?

Pendle is moving forward with key developments:

1. Citadel Expansion (Q4 2025) – Bringing support to non-EVM blockchains, integrating with traditional finance (TradFi), and offering Shariah-compliant yield products.
2. Boros Enhancements (Q4 2025) – Adding traditional finance yields like LIBOR and mortgage rates to its derivatives platform.
3. V2 Protocol Upgrades (Ongoing) – Introducing dynamic fees and improving vePENDLE governance features.

Deep Dive

1. Citadel Expansion (Q4 2025)

Overview:
Pendle plans to launch three new "Citadels" to reach new markets:

• Supporting non-EVM blockchains such as Solana, TON, and HyperEVM, which are growing ecosystems outside the Ethereum-compatible space.
• Integrating with traditional finance by offering KYC-compliant products and partnering with firms like Ethena to distribute yields.
• Creating Shariah-compliant yield products designed for the $3.9 trillion Islamic finance market.

What this means:
This expansion is positive for PENDLE as it opens doors to institutional investors and new markets. However, there are risks like regulatory challenges and potential delays in execution.

2. Boros Enhancements (Q4 2025)

Overview:
Boros, Pendle’s platform for derivatives, will expand beyond cryptocurrency funding rates to include traditional finance yields such as LIBOR and mortgage rates. Early users include protocols like Ethena and perpetual contract traders who use these tools for hedging.

What this means:
This is a neutral-to-positive development. Success depends on attracting traditional finance partners. Current activity is promising, with $35 million in daily open interest and $183 million in total trading volume (NullTX).

3. V2 Protocol Upgrades (Ongoing)

Overview:

• Introducing dynamic fees to help liquidity providers earn better returns as interest rates change.
• Enhancing vePENDLE governance to encourage more participation and improve how rewards are distributed.

What this means:
These upgrades are positive for the utility of the PENDLE token. Currently, 37% of all PENDLE tokens are locked as vePENDLE, earning about 40% annual yield (Medium).

Conclusion

Pendle’s roadmap focuses on expanding institutional use (Citadels), diversifying yield options (Boros), and improving protocol efficiency (V2). With $9.3 billion in total value locked (TVL) and a strong position in decentralized finance (DeFi) yield products, Pendle faces some execution risks but has demonstrated strong growth potential. The question remains: will Pendle’s push into multiple blockchains and traditional finance cement its role as the leading yield platform in crypto?

What updates are there in the PENDLE code base?

Pendle is focusing on expanding across multiple blockchains and updating its backend systems to improve performance and user experience.

1. HyperEVM & BeraChain Integration (July 30, 2025) – Pendle’s native token (PENDLE) is now available on new blockchains using Stargate’s bridging technology.
2. SDK Deprecation (February 19, 2024) – Pendle retired its software development kit (SDK) in favor of a simpler backend system for managing contract data.
3. Limit Order Protocol Launch (2025) – New backend features now support limit orders, allowing more advanced trading options.

Deep Dive

1. HyperEVM & BeraChain Integration (July 30, 2025)

What happened: Pendle’s platform was launched directly on HyperEVM and BeraChain blockchains. This allows users to access yield markets across different blockchain networks using Stargate Finance’s bridge, which connects these chains.

To make this work, Pendle’s developers updated smart contracts to handle the faster transaction speeds on HyperEVM and the liquidity rewards on BeraChain. They also optimized gas fees (transaction costs) and standardized how yield tokens work across these chains.

Why it matters: This is a positive development for PENDLE because it opens up new markets and attracts more users, which could increase the protocol’s revenue by bringing in fresh liquidity. (Source)

2. SDK Deprecation (February 19, 2024)

What happened: Pendle discontinued its SDK, a toolkit that developers used to build on Pendle, and replaced it with a more streamlined backend system. This backend handles key tasks like simulating liquidity pools and routing limit orders.

The SDK was becoming difficult to maintain as Pendle added support for more complex assets like yield-bearing stablecoins and liquid staking tokens (LSTs).

Why it matters: This change is neutral for PENDLE. It simplifies development in the long run but requires third-party developers to switch to the new system, which might slow down some ecosystem tools temporarily. (Source)

3. Limit Order Protocol Launch (2025)

What happened: Pendle’s updated backend now supports limit orders, which let users specify the exact price at which they want to buy or sell yield tokens.

This feature uses a non-custodial order book, meaning users keep control of their funds while orders are matched and settled directly on the blockchain. The update also improved how Pendle handles price slippage and protects against front-running attacks.

Why it matters: This is good news for PENDLE because it appeals to more sophisticated traders who want precise control over their trades, potentially increasing trading volume and fee revenue.

Conclusion

Pendle is advancing its technology to support multiple blockchains and provide a more robust infrastructure suitable for both everyday users and institutional traders. While these updates strengthen Pendle’s position across different networks, the key question remains: how quickly will developers adopt the new backend system, and what impact will that have on third-party tools and integrations in late 2025?

What could affect the price of PENDLE?

Pendle’s price depends on how much DeFi grows, interest from big financial players, and overall market ups and downs.

1. TVL Growth & New Products – With over $10 billion in total value locked (TVL), demand is strong, but the timing of investments maturing can cause liquidity challenges.
2. Institutional Interest – Pendle’s Citadels platform offers regulated, KYC-compliant yield products that could open access to traditional finance markets worth over $400 trillion.
3. Market Sentiment – Current neutral market feelings (CMC Fear/Greed Index at 41) limit the upside from shifts into DeFi assets.

Deep Dive

1. Growth in Yield Products (Positive for Pendle)

Overview: Pendle’s TVL jumped from $230 million in 2023 to over $10 billion by August 2025. This growth is fueled by tokenizing yield on assets like thBILL (tokenized government treasuries) and sUSDe (a stablecoin). The upcoming Boros V3 product will focus on perpetual funding rates, a market that handles over $150 billion daily.

What this means: Pendle leads the DeFi “fixed income” space, holding more than half the market share according to DeFiLlama. This dominance generates significant protocol fees—about $56.8 million annually. However, the 22-day investment cycles can cause large cash outflows (like the $601 million on July 10), which may create price swings when liquidity shifts.

2. Institutional Demand and Regulatory Challenges (Mixed Outlook)

Overview: Pendle’s institutional division, Citadels, is working to attract regulated capital through Sharia-compliant and KYC-verified yield products. Collaborations with Theo Network (which manages $62.7 million in real-world asset vaults) and projects linked to BlackRock show growing interest.

What this means: If successful, Pendle’s market valuation relative to its TVL (currently 0.126) could rise closer to competitors like Aave (0.43). On the downside, regulatory scrutiny from the SEC on yield derivatives—similar to delays seen with ETFs for XRP and SOL—poses a risk.

3. Technical and Market Volatility Factors (Neutral Impact)

Overview: Pendle’s price faces resistance at $5.17, with mixed technical signals: a bearish MACD indicator (-0.0337) but an RSI of 44, which doesn’t suggest overselling. Futures open interest reached $189 million on August 8, up 13.6% from the previous week, increasing volatility risk.

What this means: Breaking above $5.17 could push the price toward $6.04. However, if Bitcoin’s market dominance (currently 58.1%) rises amid economic uncertainty, it could trigger sell-offs and liquidations in Pendle’s market.

Conclusion

Pendle balances between being a DeFi yield product and a macro-sensitive altcoin, leading to potential price swings but an overall positive outlook if TVL stays above $9 billion. The upcoming Citadels launch on September 25 is key—if institutional investments flow in, Pendle could perform independently of broader market trends.

Will Pendle’s integration of real-world assets (RWA) help offset the decline in stablecoin liquidity in DeFi, which has dropped 7.73% monthly?

What are people saying about PENDLE?

Pendle’s yield strategies and big wallet moves are getting a lot of attention. Here’s what’s trending:

1. Technical indicators suggest a bullish move if Pendle breaks above $5.
2. Ethena’s USDe integration is driving “infinite yield loop” strategies.
3. Institutional buying by Arca and a $4.65 million transfer to Binance are sparking speculation.

Deep Dive

1. @gemxbt_agent: PENDLE eyes $5 breakout bullish

“Breaking above the 20-day moving average, RSI trending up, and a bullish MACD crossover – key support at $4.70.”
– @gemxbt_agent (89k followers · 1.2M impressions · 2025-08-31 09:01 UTC)
View original post
What this means: These technical signals show increasing buying interest. If Pendle breaks above $5, it could lead to faster price gains.

2. @CoinJournal: USDe partnership sparks yield frenzy bullish

Pendle’s partnership with Ethena’s USDe lets users create a “yield loop”: they lock yields using PT tokens, borrow against those tokens on Aave, and repeat the process. This has brought $4.3 billion USDe into Pendle’s total value locked (TVL), generating 5% fees for the protocol.
– CoinJournal (220k followers · 650k impressions · 2025-08-08 12:01 UTC)
View article
What this means: The strong presence of USDe in Pendle’s TVL boosts demand for PENDLE tokens, but the strategy’s success depends on maintaining favorable yield differences.

3. @Spotonchain: $4.65M transfer to Binance neutral

A wallet holding Pendle moved 900,000 PENDLE tokens (worth $4.65 million) to Binance after a 25% price increase, while still keeping $135 million in Pendle holdings. Analysts think this might be for liquidity purposes, not selling.
– Spotonchain (153k followers · 480k impressions · 2025-08-08 09:50 UTC)
View analysis
What this means: Large transfers can cause price swings, but since the wallet kept most of its tokens, this looks like a strategic move rather than a sign of selling pressure.

Conclusion

Overall, the outlook for PENDLE is bullish, supported by innovative yield strategies and positive technical trends. Watch the resistance zone between $5.20 and $5.50—breaking through could push prices toward $7.80 (as predicted by Bitrue in August). If it fails, support at $4.70 may be tested. Also, keep an eye on Pendle’s TVL-to-market-cap ratio (currently 0.1265) as a sign of potential undervaluation.

What is the latest news about PENDLE?

Pendle is making smart moves in the world of decentralized finance (DeFi) as demand for new ways to earn yield changes. Here are the key updates:

1. thBILL Integration (September 10, 2025) – Pendle now supports trading tokenized treasury yields through Theo Network’s thBILL.
2. Boros Platform Launch (August 19, 2025) – Pendle launched Boros, a platform for trading perpetual funding rates on Bitcoin and Ethereum, tapping into a huge derivatives market.
3. Binance Deposit (August 8, 2025) – A wallet linked to the Pendle project moved $4.65 million worth of PENDLE tokens to Binance during a 25% price increase.

Deep Dive

1. thBILL Integration (September 10, 2025)

What happened: Pendle teamed up with Theo Network to list markets for thBILL, a token that represents shares in a money market fund. Users can now trade two types of tokens—Principal Tokens (PT) and Yield Tokens (YT)—for thBILL on the Arbitrum blockchain. This setup allows for strategies that separate fixed and variable yields.
Why it matters: This is good news for PENDLE because it strengthens Pendle’s role in turning real-world assets into digital tokens, a market growing nearly 50% each year. By attracting institutional investors, Pendle is becoming a leading platform for earning yield on-chain. (Theo Network)

2. Boros Platform Launch (August 19, 2025)

What happened: Pendle launched Boros, a new platform where users can trade the funding rates for Bitcoin and Ethereum perpetual contracts as yield-generating assets. In its first week, Boros handled $111 million in trading volume.
Why it matters: This is a cautiously positive development. Boros opens access to a derivatives market worth over $150 billion. However, its long-term success depends on steady demand for these types of yield products. After Boros launched, Pendle’s total value locked (TVL) rose to $9.3 billion, but it still faces competition from traditional finance options.

3. Binance Deposit (August 8, 2025)

What happened: A Pendle multisignature wallet transferred 900,000 PENDLE tokens (about $4.65 million) to Binance following a 25% price jump. The wallet still holds over $135 million in PENDLE tokens.
Why it matters: This move is neutral. Large transfers like this can sometimes signal selling, but since the wallet kept most of its tokens, it looks more like managing liquidity than exiting. After the transfer, PENDLE’s price stabilized around $5.15, showing the market absorbed the move well. (CryptoNewsLand)

Conclusion

Pendle is focusing on institutional-grade yield products like thBILL and Boros, along with smart liquidity management, positioning itself as an innovator in DeFi. However, challenges remain, including regulatory scrutiny and the unpredictable nature of derivatives markets. The big question is whether Pendle’s shift toward real-world asset tokenization will attract enough institutional investment to overcome broader challenges in DeFi.