Why did the price of PENDLE go up?

Pendle (PENDLE) increased by 1% in the last 24 hours, continuing its positive trend over the past week (+5.06%) and two months (+23.77%). This growth is driven by new partnerships in decentralized finance (DeFi) and improving market indicators.

1. More Ways to Use Yield Tokens – Euler Finance now accepts Pendle’s PT-tUSDe token as collateral, allowing users to borrow against it.
2. Launch on Plasma Mainnet – Pendle introduced 5 new high-yield markets on the Plasma blockchain, expanding its reach into real-world assets.
3. Technical Strength – Pendle’s price remains above important support levels, with positive signals suggesting upward momentum.

Deep Dive

1. More Ways to Use Yield Tokens (Positive for Pendle)

What happened: On October 3, Euler Finance started allowing PT-tUSDe (a Pendle token representing staked USDe) to be used as collateral. This means users can borrow money while still earning an 11.77% annual return on their tokens.
Why it matters: This increases the usefulness of Pendle’s tokens, making PENDLE more attractive as a governance and fee-sharing asset. Euler’s support shows confidence in Pendle’s role in structured yield markets, which could bring in more investors looking for steady income or leverage.
Keep an eye on: Euler’s borrowing rules and security checks, as stricter limits could slow adoption.

2. Launch on Plasma Mainnet (Positive for Pendle)

What happened: On October 2, Pendle launched 5 new yield markets on Plasma, a blockchain secured by Bitcoin. These include tokens like sUSDe (offering 25.9% annual yield) and USDai (with an impressive 649% yield), supported by over $13 billion in stablecoin liquidity.
Why it matters: This gives Pendle access to Plasma’s large institutional user base and cross-chain liquidity, helping grow its total value locked (TVL). It also positions PENDLE as a key player in offering high-yield real-world asset products, which is expected to be a major trend in DeFi for 2025.

3. Technical Strength (Mixed Signals)

What’s happening: Pendle is trading at $4.80, just above a key support level around $4.68–4.82. Technical indicators like the MACD show positive momentum, while the RSI is neutral.
Why it matters: Buyers have defended this support zone, but there is resistance near $4.96. If Pendle’s price breaks above $4.96, it could rise to $5.13. If it fails, the price might drop back to around $4.49.

Conclusion

Pendle’s recent price increase reflects its growing presence in yield trading through strategic partnerships and solid technical support after a security issue in September. While short-term signals favor further gains, it’s important to watch trading volume and whether Pendle can break above $4.96 to keep the rally going.
Key point to watch: Will Pendle’s total value locked (TVL) climb back above $7 billion (currently $6.5 billion) following the Plasma integration?

What could affect the price of PENDLE?

Pendle strikes a balance between creating new ways to earn yield and managing market risks.

1. Expanding Yield Products – Launching new markets on Plasma and adding Euler Finance collateral support
2. Security Issues – Wallet exploits raise concerns despite the protocol’s safety measures
3. Institutional Interest – Citadels platform targets regulated investors looking for yield

Deep Dive

1. Expanding Yield Products (Positive Outlook)

Overview: Pendle is growing by integrating with Plasma, launching five new yield markets, and adding support for Euler Finance collateral. These moves open up over $50 million in liquidity for strategies like protecting yield and leveraged farming.

What this means: More ways to use Pendle could lead to a big increase in total value locked (TVL). In fact, Pendle’s TVL jumped from $230 million to $8.3 billion in 2025 (Redstone). With a projected $200 million in yearly fees at $20 billion TVL, Pendle’s token (PENDLE) could see more value through its veTokenomics system.

2. Security Issues (Negative Outlook)

Overview: On September 30, a wallet exploit and token vulnerabilities caused a 5.4% drop in Pendle’s price during the day. Although the core protocol wasn’t hacked, these incidents can shake user confidence.

What this means: If security problems continue, more users might sell their tokens. During the incident, $1.03 million worth of PENDLE was liquidated in 24 hours. To keep its strong position in the DeFi yield market (holding about 50%), Pendle needs thorough security audits and clear explanations after incidents.

3. Institutional Interest (Mixed Outlook)

Overview: Pendle’s Citadels platform is designed to attract institutional investors by offering yield products that comply with regulations and Shariah law. However, traditional finance giants like BlackRock entering tokenized Treasury markets could create tough competition.

What this means: If successful, Citadels could significantly increase Pendle’s TVL (with estimates up to $20 billion from Spartan Group). But this growth may come with more regulatory scrutiny. The U.S. Securities and Exchange Commission (SEC) is still deciding on crypto yield products, such as Solana ETFs, adding uncertainty.

Conclusion

Pendle’s future price depends on how well it balances innovation in decentralized finance (DeFi) with managing risks. While expanding yield products and attracting institutions offer growth opportunities, security issues and regulatory challenges could cause price swings. Will Pendle keep up its 45% TVL growth while handling these challenges? Keep an eye on weekly protocol revenue and vePENDLE token lock-ups as key indicators of health.

What are people saying about PENDLE?

The Pendle community is balancing excitement about high yields with careful technical analysis. Here’s what’s currently happening:

1. A surge in yield strategies has pushed total value locked (TVL) to $7.7 billion, helping raise the price.
2. A $4.65 million transfer of PENDLE tokens to Binance has sparked discussions about possible price swings.
3. Technical forecasts suggest a long-term price target of $29.25, fueling optimism.
4. Large institutional investors are quietly buying more PENDLE despite market noise.

In-Depth Look

1. Yield Loop Drives 30% Price Rally 🚀

John Morgan (@johnmorganFL) highlights that Pendle’s price jumped 30% as TVL hit $7.7 billion. This growth is supported by a “yield loop” created through Ethena’s USDe integration, where Pendle Token (PT) yields average 8.8%, outpacing borrowing costs of 4-6%. This means investors can earn more from yields than they pay to borrow, encouraging more activity and price support. Keeping an eye on TVL staying above $7 billion is important for continued strength.
See original post

2. $4.65 Million Wallet Transfer to Binance Raises Questions 🏦

EmberCN (@EmberCN) reports a significant wallet moved $4.65 million worth of PENDLE tokens to Binance. Large transfers to exchanges often precede price volatility, which can be a warning sign. However, since this wallet still holds $135 million in PENDLE, it suggests the move might be part of planned liquidity management rather than panic selling. This means short-term price swings are possible but not guaranteed.
See original post

3. Technical Analysis Points to $29.25 Price Target 🌊

MichaelEWPro (@MichaelEWPro) uses Elliott Wave theory and Fibonacci levels to identify strong buying zones for PENDLE. The key support level is around $4.05, and if it holds, the next major price target could be $29.25 — implying a potential gain of over 600%. This forecast depends on broader market momentum, especially during an “altseason” when alternative cryptocurrencies tend to rise.
See original post

4. Institutional Investors Continue Buying 🐋

Data from Nansen shows that a wallet linked to Arca has accumulated 2.183 million PENDLE tokens, worth about $8.3 million, over six days. This indicates smart money is building positions at an average price of $3.81, which is a positive sign for long-term growth. However, since 87% of PENDLE is held by a small group of investors, price swings could be more extreme if these holders decide to sell.
See original post

Conclusion

The overall outlook for PENDLE is optimistic but cautious. Innovations in yield strategies and positive technical signals suggest the price could rise above $10. However, watch for:

1. Whether TVL remains strong after Ethena’s integration
2. The correlation with Bitcoin’s price movements (currently 0.71), especially given uncertain economic conditions
3. How exchange inflows and outflows behave following the recent $4.65 million transfer

A clear move above the $5.25 resistance level would likely confirm the start of the next upward trend.

What is the latest news about PENDLE?

Pendle is addressing security concerns while expanding its decentralized finance (DeFi) partnerships and offering more ways to earn yield. Here are the key updates:

1. Euler Adds PT-tUSDe as Collateral (October 3, 2025) – Users can now borrow using Pendle’s fixed-income tokens, enabling more advanced yield strategies.
2. Plasma Launches 5 New Yield Markets (October 2, 2025) – High-yield stablecoin pools aimed at global users, including those without traditional banking access.
3. Wallet Exploit Contained (September 30, 2025) – A security breach affected one wallet but did not compromise Pendle’s overall funds.

Deep Dive

1. Euler Adds PT-tUSDe as Collateral (October 3, 2025)

What Happened:
Euler Finance now accepts Pendle’s PT-tUSDe token as collateral. This token represents a fixed-yield asset tied to Ethena’s staked USDe stablecoin, offering an 11.77% annual return. Users can borrow funds against these tokens, making it easier to use their yield-earning assets as leverage. Pendle’s tUSDe liquidity pool is over $50 million, but important details like loan-to-value ratios and liquidation rules haven’t been shared yet.

Why It Matters:
This move is positive for Pendle because it helps users get more value from their investments and strengthens Pendle’s position in DeFi lending and yield products. However, without clear risk limits, borrowers might face unexpected losses if the value of their collateral changes suddenly.
(Cryptotimes)

2. Plasma Launches 5 New Yield Markets (October 2, 2025)

What Happened:
Pendle introduced five new yield markets on Plasma, a blockchain secured by Bitcoin. These markets offer very high annual percentage yields (APYs), up to 649%, on stablecoin pools like sUSDai. The partnership taps into Plasma’s $13 billion stablecoin liquidity and aims to serve users worldwide, especially those without access to traditional banks. Plasma is also providing $900,000 in weekly rewards paid in its native XPL tokens to encourage participation.

Why It Matters:
This expansion could help Pendle reach more users and increase liquidity, which is good for growth. However, the very high yields might not last, and success depends on how well Plasma’s platform is adopted and how stable the returns remain over time.
(Crypto.news)

3. Wallet Exploit Contained (September 30, 2025)

What Happened:
A hacker managed to drain one Pendle wallet and minted PT and YT tokens, then sold them, causing Pendle’s token price to drop by 5.4%. Despite this, Pendle confirmed that the overall protocol and user funds were safe. The token price quickly bounced back to $4.41 after the initial drop.

Why It Matters:
This incident is a short-term setback, showing that smart contract vulnerabilities still exist. However, since the core protocol wasn’t compromised and the price recovered quickly, it suggests that Pendle’s security measures and community trust remain strong.
(The Block)

Conclusion

Pendle is growing its offerings in fixed-income DeFi products while actively managing security risks. Partnerships with platforms like Euler and Plasma expand its reach and utility. The big question going forward is whether Pendle can keep up its momentum amid increasing competition and changing regulations in the crypto space.

What is expected in the development of PENDLE?

Pendle’s roadmap is focused on growing its yield markets, expanding across different blockchain networks, and attracting institutional investors.

1. Plasma Integration & Yield Markets (Q4 2025) – Launching 5 new yield pools on Plasma, a blockchain built for stablecoins.
2. Citadels Expansion (2025) – Developing compliant yield products aimed at traditional finance institutions and Islamic finance markets.
3. Boros Derivatives Growth (2025) – Expanding Pendle’s perpetual futures trading beyond Bitcoin and Ethereum.
4. V2 Protocol Upgrades (2025) – Introducing dynamic fees and improving governance with vePENDLE tokens.

Deep Dive

1. Plasma Integration & Yield Markets (Q4 2025)

Overview: Pendle plans to launch five new yield markets on Plasma, a Layer 1 blockchain secured by Bitcoin and designed for stablecoins. Some pools include sUSDe offering 25.9% annual yield and USDai with 36.72% annual yield. To encourage participation, Pendle will distribute $900,000 worth of XPL tokens weekly as rewards (source). This move aims to tap into Plasma’s large stablecoin liquidity pool, which exceeds $2 billion, and its global user base.

What this means: This is a positive step for increasing total value locked (TVL) and expanding Pendle’s reach across different blockchains. However, since Plasma is a relatively new platform, there are risks related to how well this integration will perform.

2. Citadels Expansion (2025)

Overview: Pendle’s Citadels project targets three main areas:

• Non-EVM blockchains like Solana and TON, using HyperEVM technology to support these networks (source).
• Traditional finance (TradFi) partnerships with companies such as Ethena to create regulated yield products.
• Sharia-compliant financial products designed for the $3.9 trillion Islamic finance market.

What this means: This expansion could open new markets for Pendle, but regulatory challenges and finding the right product fit may slow progress. Overall, this is a cautiously optimistic development.

3. Boros Derivatives Growth (2025)

Overview: Boros is Pendle’s platform for perpetual futures yield trading. Since its launch in August 2025, it has maintained $35 million in daily open interest. Future plans include adding staking rewards and tokenized Treasury products to attract more users (source).

What this means: If Pendle can capture even a small portion of the $150 billion daily derivatives yield market, this could be a major growth driver. However, competition from centralized exchanges remains strong.

4. V2 Protocol Upgrades (2025)

Overview: The upcoming V2 version of Pendle’s protocol will include:

• Permissionless pool creation through an easy-to-use interface (source).
• Dynamic fee adjustments to improve returns for liquidity providers.
• More flexible vePENDLE governance options for smaller token holders.

What this means: These upgrades should boost protocol revenue and decentralization. However, changes to fees might initially discourage some liquidity providers.

Conclusion

Pendle’s roadmap highlights growth through ecosystem expansion (Plasma, Citadels), product innovation (Boros), and improving protocol sustainability (V2 upgrades). The big question is whether Pendle can keep its leading position—currently holding about 50% of DeFi’s yield market—while managing regulatory and technical challenges. Key metrics to watch in late 2025 include how well TVL holds up after the Plasma launch and how diverse Boros’ asset offerings become.

What updates are there in the PENDLE code base?

Pendle’s recent updates focus on expanding across multiple blockchains and integrating with institutional finance.

1. Cross-Chain Expansion (July 30, 2025) – Pendle launched on BeraChain and HyperEVM, enabling users to trade yield tokens across different blockchains.
2. Boros Platform Launch (August 11, 2025) – Introduced new trading options for Bitcoin and Ethereum funding rates using Yield Units.
3. Security Patch (September 30, 2025) – Fixed a security issue where attackers tried to create tokens fraudulently, with no loss of funds.

Deep Dive

1. Cross-Chain Expansion (July 30, 2025)

What happened: Pendle expanded its platform to work on BeraChain and HyperEVM blockchains. This allows users to swap yield tokens—special tokens representing earnings from investments—across Ethereum, BeraChain, and HyperEVM using Stargate Finance, a tool that connects different blockchains.

To make this work, Pendle updated its smart contracts (the code that runs on blockchains) to support new blockchain types and liquidity pools (places where users can trade tokens). They also improved the system to reduce transaction costs by about 15%.

Why it matters: This expansion is positive for Pendle (PENDLE) because it opens up new markets and users in emerging decentralized finance (DeFi) ecosystems. Traders can now access yield opportunities on three blockchains with shared liquidity, potentially increasing the total value locked (TVL) in the platform.
(Source)

2. Boros Platform Launch (August 11, 2025)

What happened: Pendle introduced Yield Units (YUs) on the Boros platform, allowing users to trade funding rates for Bitcoin (BTC) and Ethereum (ETH). Funding rates are fees paid between traders to keep prices aligned with the market. This required new automated market maker (AMM) logic to handle these complex financial products.

The update also added risk management features that automatically adjust collateral (security deposits) to prevent large losses or forced sales (liquidations). Within 48 hours, users deposited $1.85 million in BTC and ETH.

Why it matters: This update is neutral for Pendle. While it adds advanced trading tools that attract professional and institutional traders, the added complexity might be overwhelming for casual users. Still, it positions Pendle as a leader in structured yield products.
(Source)

3. Security Patch (September 30, 2025)

What happened: Pendle’s team stopped an attack where someone tried to create Pendle tokens (PT/YT) without authorization. No funds were stolen, but the event led to a review of how tokens are created.

The patch added stricter checks to prevent unauthorized token creation and improved monitoring to detect unusual activity early.

Why it matters: This is a positive development for Pendle because it shows the team is proactive about security, which builds trust as the platform’s TVL grows (reaching $8.27 billion).
(Source)

Conclusion

Pendle’s latest updates highlight its commitment to working across multiple blockchains, offering advanced yield trading tools, and maintaining strong security. These steps support Pendle’s goal to connect decentralized finance (DeFi) with traditional finance (TradFi) while keeping the platform safe and reliable. The big question is whether Pendle’s cross-chain liquidity will grow as more Layer 2 blockchains adopt its yield infrastructure.