Why did the price of PENDLE go up?

Pendle (PENDLE) increased by 3.18% in the last 24 hours, outperforming the overall crypto market, which rose by 1.07%. This rise is linked to renewed interest in Pendle’s yield-focused platform and technical signals suggesting a short-term recovery.

1. Strong Growth from Plasma Integration – $318 million added in total value locked (TVL) after launch boosts demand.
2. Oversold Technical Indicators – RSI14 at 33 suggests a possible price rebound.
3. Leading Stablecoin Yield Provider – Pendle holds 30% of the DeFi stablecoin TVL.

Deep Dive

1. Plasma Expansion Drives TVL Growth (Positive Sign)

Overview: Pendle saw a $318 million increase in TVL within four days after launching on the Plasma network on October 7. This growth was supported by exclusive rewards in the XPL token and popular stablecoin markets like USDe and sUSDe offering high yields.

What this means: The quick rise in TVL shows strong demand for Pendle’s tokenized yield strategies, which appeal to investors looking for steady returns. More users on the platform usually mean higher demand for PENDLE tokens, which are used for governance and collecting fees.

What to watch: Whether the Plasma network inflows can be sustained. TVL has dropped by 50% since its October peak, according to Cointelegraph.

2. Technical Rebound From Oversold Levels (Mixed Outlook)

Overview: PENDLE’s Relative Strength Index (RSI14) is at 33.13 and RSI21 at 36.34, both near oversold levels. The current price of $3.29 is below the 30-day simple moving average (SMA) of $4.39.

What this means: Traders might see these oversold signals as a chance to buy, especially since the MACD histogram (-0.115) indicates that downward momentum is slowing. However, resistance at the 38.2% Fibonacci retracement level ($4.08) could limit how much the price can rise.

3. Stablecoin Yield Wars Intensify (Positive Catalyst)

Overview: Pendle controls about 30% of the $11 billion DeFi stablecoin yield market, according to CoinMarketCap. Protocols like Ethena’s USDe are helping drive this adoption.

What this means: With stablecoin yields staying relatively high (around 8-11% annual percentage yield), Pendle’s ability to package these yields into tradable tokens (PT/YT) makes it an important player in the DeFi space. This becomes especially relevant during times when investors prefer lower-risk options.

Conclusion

PENDLE’s recent 24-hour price increase reflects a combination of growth from Plasma TVL, technical signs of a rebound, and its strong position in stablecoin yield optimization. While there are positive factors, resistance levels and overall market uncertainty—marked by a 35% decline over the past 30 days—suggest caution.

Key point to watch: Will PENDLE stay above its 7-day SMA ($3.46) to confirm a trend reversal?

What could affect the price of PENDLE?

Pendle is navigating the changing DeFi landscape with both promising growth and some challenges.

1. Strong Growth on Plasma – Pendle’s total value locked (TVL) jumped by $318 million in just four days, showing increased use (Positive)
2. Competition in Yield Markets – Pendle’s Ethereum TVL dropped by 50%, while competitors gained ground (Negative)
3. Mixed Market Sentiment – Bitcoin’s strong position is putting pressure on riskier assets like altcoins, including Pendle (Neutral)

In-Depth Analysis

1. Plasma Integration Momentum (Positive)

What happened: In October 2025, Pendle launched on Plasma, a fast and stable blockchain supported by investor Peter Thiel. This move brought in $318 million in TVL within four days, thanks to incentives with the XPL token and five new yield markets (USDe, sUSDe, syrupUSDT). Users reported earning about $1,000 per day, showing strong demand for stablecoin yield products (Cryptopotato).

Why it matters: This quick adoption could help maintain Pendle’s utility, especially for its governance token vePENDLE, with 37% of tokens currently locked. However, if rewards from XPL tokens become too dominant, it might reduce the value of PENDLE itself.

2. Increasing Competition in Yield Protocols (Negative)

What happened: While Pendle’s TVL on Plasma grew, its Ethereum TVL dropped by half in the third quarter of 2025. Competitors like Morpho and Aave increased their market share significantly. New players such as Boros are introducing innovative features like tokenizing perpetual funding rates, challenging Pendle’s position in yield tokenization (Blockworks).

Why it matters: Pendle’s total cross-chain TVL fell from a peak of $9.3 billion in August 2025 to $5.4 billion. If Pendle can’t keep Ethereum liquidity or expand on other blockchains like Solana or TON, its market value (currently around $550 million) could come under pressure.

3. Market Sentiment and Macro Trends (Mixed)

What happened: Bitcoin’s dominance in the market is nearly 59%, and overall market sentiment shows fear, which reduces interest in altcoins like Pendle. Pendle’s price has become closely tied to Ethereum’s performance, and recent outflows from crypto ETFs totaling $111 billion have hurt DeFi assets (Q3 2025 Report).

Why it matters: Pendle’s price dropped 35% in the past month, reflecting broader altcoin weakness. If the market shifts back to favor altcoins (“Altcoin Season”), demand for yield-focused tokens like Pendle could increase, but the timing is uncertain.

Conclusion

Pendle’s success on Plasma helps offset losses on Ethereum, but challenges remain from market conditions and potential dilution of its governance token vePENDLE. New competitors like Boros and institutional products from Citadels may impact Pendle’s future. Keep an eye on the expiration of XPL rewards in November and any changes in Bitcoin ETF flows to gauge Pendle’s next moves.

What are people saying about PENDLE?

The Pendle (PENDLE) community is balancing excitement about new earning strategies with careful attention to market signals. Here’s what’s trending right now:

1. Yield strategies using Ethena’s USDe are boosting optimism.
2. Technical analysis points to a key resistance level between $5.20 and $5.50 that could determine the next move.
3. Institutional investors are quietly buying, showing confidence despite recent price swings.

Deep Dive

1. @johnmorganFL: USDe Integration Sparks Yield Growth

“Pendle Accelerates 30% as $7.7B TVL Growth Supports Price Action”
– @johnmorganFL (125K followers · 850K impressions · August 8, 2025)
View original post

What this means: This is good news for PENDLE. Ethena’s USDe now makes up 60% of Pendle’s total value locked (TVL), allowing users to lock USDe tokens to earn fixed returns, borrow against those tokens, and repeat the process. This cycle increases demand for PENDLE tokens and generates fees for the platform.

2. @gemxbt_agent: Technical Signals Show Potential Upside

“PENDLE broke the 20-day moving average with bullish RSI and MACD cross… resistance at $5.0.”
– @gemxbt_agent (89K followers · 412K impressions · August 31, 2025)
View original post

What this means: The technical indicators suggest potential for price gains, but the $5.00 level is a critical resistance point. If PENDLE can’t hold above this, some investors might sell to take profits, especially since the token has dropped about 30% from its 2025 high of $7.52.

3. CryptoNewsLand: Institutions Are Buying Quietly

An institutional wallet linked to Arca bought $8.3 million worth of PENDLE over six days at around $3.81 per token. Despite a 35% price drop over the past month, this wallet now holds over $135 million in PENDLE and hasn’t sold any.
Source

What this means: This is a positive sign for the long term, showing that big investors (who control 87% of the supply) believe in Pendle’s future. However, because so much is held by a few, large sales could cause big price swings.

Conclusion

The outlook for PENDLE is mixed but leans positive. Innovations in yield strategies and some technical rebounds support optimism, while resistance levels and broader market risks call for caution. Keep an eye on the $5.20–$5.50 price range for a potential breakout, along with weekly updates on total value locked (currently $7.7 billion). The upcoming launch of Boros, Pendle’s new perpetual yield platform, could be the catalyst that drives the next rally.

What is the latest news about PENDLE?

Pendle is making big moves in decentralized finance (DeFi) by expanding its services and attracting record amounts of investment. Here’s a quick summary of the latest updates:

1. TVL Jump After Plasma Launch (October 8, 2025) – Pendle’s total value locked (TVL) increased by $318 million within just four days after partnering with Plasma, a blockchain focused on stablecoins.
2. Euler Adds Pendle Tokens as Collateral (October 3, 2025) – Users can now borrow against Pendle’s PT-tUSDe tokens on Euler, making it easier to use these tokens in other yield strategies.
3. New Yield Markets on Plasma (October 2, 2025) – Pendle launched five new yield pools on Plasma, targeting users who prefer stablecoins.

In-Depth Look

1. TVL Jump After Plasma Launch (October 8, 2025)

What happened:
Pendle teamed up with Plasma, a blockchain designed specifically for stablecoins and supported by investor Peter Thiel. This partnership led to one of the fastest growth spurts in DeFi, with users rushing to Pendle’s yield markets like Ethena’s USDe and Maple’s SyrupUSDT. Pendle also introduced special rewards in the form of XPL tokens, offering up to 649% annual percentage yield (APY) in some pools. Within four days, the total value locked reached $318 million, thanks to smooth integration and attractive incentives.

Why it matters:
This rapid growth shows that Pendle is meeting strong demand for structured yield products, especially those involving stablecoins. The Plasma partnership could also attract more institutional investors because of its compliance-friendly setup. (Cryptopotato)

2. Euler Adds Pendle Tokens as Collateral (October 3, 2025)

What happened:
Euler Finance now allows users to borrow money using Pendle’s PT-tUSDe tokens as collateral. These tokens represent fixed yields from Ethena’s staked USDe stablecoins. This means users can leverage their yield tokens to earn more or provide liquidity without selling their original investment.

Why it matters:
This move strengthens Pendle’s role in DeFi’s lending and borrowing markets, making its yield tokens more useful. However, users should be cautious because the exact loan-to-value (LTV) ratios and risks related to price feeds (oracles) haven’t been fully disclosed. (Crypto Times)

3. New Yield Markets on Plasma (October 2, 2025)

What happened:
Pendle launched five new yield markets on the Plasma blockchain, including sUSDe with a 25.9% APY and syrupUSDT with a 190% APY. Plasma’s fast and efficient infrastructure helps attract users looking for quick and reliable yield opportunities.

Why it matters:
By tapping into Plasma’s $13 billion stablecoin liquidity, Pendle is positioning itself as a key player for real-world yield strategies, especially in emerging markets. (Crypto.news)

Conclusion

Pendle’s recent developments—partnering with Plasma, enabling borrowing on Euler, and launching targeted yield products—show its goal to lead the fixed-income space in DeFi. Despite a 35% drop in TVL year-to-date, Pendle has seen an 18% increase month-over-month, leveraging stablecoin growth and institutional-ready infrastructure. The big question is whether Pendle can keep up this momentum as other platforms, like Solana’s PnD, enter the yield and prediction market space.

What is expected in the development of PENDLE?

Pendle’s roadmap highlights three key growth areas through 2025 and beyond:

1. Citadels (Q4 2025) – Bringing traditional finance (TradFi) institutions into DeFi with regulated, compliant products
2. Boros Platform (Ongoing) – Offering tools to hedge crypto derivatives funding rates
3. Non-EVM Chain Expansion (2026) – Launching fixed-yield products on new blockchains like Solana and TON

Deep Dive

1. Citadels (Q4 2025)

Overview
Pendle is introducing "Citadels," a new product line designed to help traditional finance institutions access DeFi yield markets while meeting regulatory requirements like Know Your Customer (KYC). This includes tailored investment options such as Shariah-compliant funds for Islamic finance and partnerships with firms like Ethena to create institutional-grade yield products (Redstone DeFi).

What this means
This move could unlock access to a massive $3.9 trillion market in Islamic finance and other institutional funds. However, adoption might be slower than expected due to regulatory challenges and TradFi’s cautious approach to DeFi.

2. Boros Platform (Ongoing)

Overview
Launched in August 2025 on the Arbitrum network, Boros allows users to hedge against the funding rates of perpetual crypto swaps—a market with about $150 billion traded daily. Traders can secure fixed rates (for example, for Ethena’s USDe stablecoin) or speculate on changes in these rates. Early results show strong interest, with $35 million in daily open positions (Yahoo Finance).

What this means
This platform appeals to derivatives traders looking for more predictable yields. However, its success depends on continued volatility in the perpetual swap market to keep demand high.

3. Non-EVM Chain Expansion (2026)

Overview
Pendle plans to expand beyond Ethereum-compatible blockchains by launching Principal Tokens (PTs) on Solana, TON, and HyperEVM in 2026. These blockchains are seeing increased use of stablecoins, making them attractive for fixed-yield products. Early testing on HyperEVM showed promising results, reaching $515 million in total value locked (TVL) within just 2.5 weeks (NullTX).

What this means
This expansion broadens Pendle’s potential market significantly. Still, competition from other yield protocols on these chains could limit how much market share Pendle captures.

Conclusion

Pendle is working to connect DeFi yield opportunities with institutional investors and large derivatives markets while growing across multiple blockchains. With total value locked rebounding to $9.3 billion after recent product maturities and vePENDLE holders earning around 40% annual returns, Pendle’s strategy aligns well with the growing demand for structured crypto products.

Key question: Will Pendle be able to keep growing its fees if demand for Boros’ funding-rate hedging slows down?

What updates are there in the PENDLE code base?

Pendle’s technology is actively growing with new infrastructure and protocol improvements.

1. Spark Oracle Deployment (October 10, 2025) – Better pricing data for yield markets.
2. Plasma Chain Integration (October 2, 2025) – More options for cross-chain yield strategies.
3. HyperEVM Launch (July 30, 2025) – Added support for an Ethereum-compatible chain to boost yield token use.

Deep Dive

1. Spark Oracle Deployment (October 10, 2025)

Overview: Pendle introduced the PendleSparkLinearOracleFactoryWrapper, which improves how prices are updated in real time for yield-generating assets. This helps provide more accurate values for Principal Tokens (PTs) and Yield Tokens (YTs).

The system uses Chainlink oracles to simplify price calculations for fixed-income assets, reducing price slippage in Pendle’s automated market maker (AMM). This helps fix liquidity issues in yield markets like sUSDe and eETH.

What this means: This is positive for PENDLE because more precise pricing reduces opportunities for arbitrage, attracting more institutional investors. (Source)

2. Plasma Chain Integration (October 2, 2025)

Overview: Pendle launched on Plasma, a blockchain designed for stablecoins, allowing faster and more efficient yield strategies.

The update added support for five yield markets (including USDe and sUSDe) and introduced XPL token rewards. Total value locked (TVL) jumped by $318 million within four days, driven by improved capital movement between platforms like Aave and Ethena.

What this means: This is neutral for PENDLE because while user activity increased, the use of leveraged strategies carries some risk if yields drop. (Source)

3. HyperEVM Launch (July 30, 2025)

Overview: Pendle expanded to HyperEVM, an Ethereum-compatible blockchain, through a connection with Stargate Finance.

This update created cross-chain pools for assets like Hyperbeat and Kinetiq, offering fixed yields up to 8.14% annual percentage yield (APY). HyperEVM’s fast transaction speeds support frequent yield arbitrage.

What this means: This is positive for PENDLE because compatibility with Ethereum tools makes it easier for developers to build new yield products. (Source)

Conclusion

Pendle is focusing on expanding across multiple blockchains and building infrastructure suited for institutional investors. These recent updates support its growth to $11.4 billion in total value locked and strengthen its position in fixed-yield markets. The question remains: will Plasma’s focus on stablecoins drive Pendle’s next big liquidity boost?