What is expected in the development of PENDLE?

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

1. Boros Launch (2025) – Introducing trading for funding rates and derivative yields.
2. Citadels Expansion (2026) – Expanding into traditional finance and Islamic finance markets.
3. vePENDLE Airdrop (Dec 31, 2025) – Rewarding long-term participants in governance.

Deep Dive

1. Boros Launch (2025)

Overview: Boros is Pendle’s new product line that lets users trade funding rates from perpetual futures markets, which handle over $150 billion in daily volume. This feature allows platforms like Ethena to convert variable yields into fixed rates. Initially, it will focus on crypto funding rates but plans to expand into traditional finance products like mortgage rates (Pendle 2025: Zenith).

What this means: This is a positive development for PENDLE because it opens up a large, mostly untapped market for yield trading. However, success depends on the activity in derivatives markets and competition from other platforms.

2. Citadels Expansion (2026)

Overview: This phase includes three main efforts:

• Adding support for non-Ethereum blockchains like Solana and TON to access more yield opportunities.
• Partnering with traditional finance firms to offer compliant yield products that meet Know Your Customer (KYC) standards.
• Creating Shariah-compliant yield products aimed at the $3.9 trillion Islamic finance market.

What this means: This expansion could help Pendle grow its total value locked (TVL) by diversifying its offerings. However, it faces challenges from regulatory requirements and adoption barriers.

3. vePENDLE Airdrop (Dec 31, 2025)

Overview: On December 31, 2025, Pendle will take a snapshot of vePENDLE token holders and distribute additional tokens based on their participation in governance. Note that tokens held in third-party liquidity lockers will not qualify (Pendle Weekly Report).

What this means: This airdrop is a short-term positive incentive to encourage users to lock their tokens and participate in governance. However, there is a risk that some recipients might sell their tokens after receiving them, which could put downward pressure on the price.

Conclusion

Pendle is focusing on building advanced yield products for institutions (Boros), expanding into new markets globally (Citadels), and encouraging governance participation through incentives. The upcoming December 31 airdrop may temporarily increase token lockups, while Boros’ success will depend on how well it can attract activity in derivatives markets. The big question remains: Can Pendle’s cross-chain growth efforts overcome the broader market downturn that has pushed PENDLE down 57% year-to-date?

What updates are there in the PENDLE code base?

Pendle's development team is actively improving the platform by expanding to multiple blockchains and upgrading its core technology.

1. HyperEVM Integration (December 17, 2025) – Updated addresses to support cross-chain use
2. Chainlink Oracle Deployment (December 5, 2025) – Improved price data accuracy
3. Plasma Chain Support (September 30, 2025) – Added support for stablecoins and institutional yield products

In-Depth Look

1. HyperEVM Integration (December 17, 2025)

What happened: Pendle updated its system to better connect with HyperEVM, Ethereum, and BeraChain blockchains by migrating safe addresses.

This change allows PENDLE tokens to move smoothly between these networks using Stargate Finance, making transactions faster and cheaper. The development team also improved how the platform manages addresses to keep governance secure across multiple blockchains.

Why it matters: This is a positive step for Pendle because it opens up new opportunities in growing Layer 2 (L2) ecosystems like HyperEVM, where Pendle is now the third largest by total value locked (TVL). Users benefit from lower fees and quicker transactions.
(Source)

2. Chainlink Oracle Deployment (December 5, 2025)

What happened: Pendle integrated a new Chainlink oracle system to provide more reliable price information for yield-generating assets.

The upgrade added safety features and backup checks for important assets like stETH and real-world assets (RWAs). Independent code reviews confirmed the system is protected against price manipulation attacks.

Why it matters: This update is somewhat positive because it lowers risks for institutional users by ensuring accurate pricing, though it doesn’t directly increase yields. Traders can trust the pricing more when dealing with complex yield products.
(Source)

3. Plasma Chain Support (September 30, 2025)

What happened: Pendle launched native support for its Plasma chain, designed to handle stablecoins and institutional yield products.

This included updating smart contracts to manage tokenized Treasury bills and bonds, aligning with Pendle’s strategy to work with real-world assets. The rollout was preceded by security audits from OpenZeppelin to ensure safety.

Why it matters: This is a strong long-term move, positioning Pendle as a platform for traditional finance-grade yield products. However, growth in total value locked depends on how quickly institutions start using these features.
(Source)

Conclusion

Pendle’s recent updates show a clear focus on expanding across multiple blockchains (like HyperEVM and BeraChain) and improving reliability for institutional users (through Chainlink and Plasma). While these improvements strengthen security and interoperability, Pendle’s future success will depend on how well it can attract real-world asset adoption and grow in Layer 2 ecosystems in 2026. An interesting question remains: how will Pendle’s veTokenomics evolve to support its growing presence across multiple blockchains?

What could affect the price of PENDLE?

Pendle is caught between exciting DeFi innovations and challenging market conditions.

1. Institutional Moves – Arthur Hayes’ $973K purchase of PENDLE signals growing interest in DeFi as investors shift away from Ethereum (AMBCrypto).
2. YieldFi Growth – With $3.4 billion in total value locked (TVL) and adoption of real-world assets (RWA) and liquid staking tokens (LST), Pendle is becoming a key player in crypto fixed-income products (Nicat_eth Tweet).
3. Supply Concerns – Unlimited token supply and a $4 million loss-driven sell-off by Polychain Capital raise worries about token dilution (CryptoNewsLand).

Deep Dive

1. Institutional Demand vs. Exit (Mixed Impact)

Overview:
In December 2025, Arthur Hayes invested about $973,000 in PENDLE, shifting his focus from Ethereum to higher-risk DeFi tokens, expecting better liquidity. On the other hand, Polychain Capital sold all 4.1 million of its PENDLE tokens at a $4 million loss, showing some institutions are losing confidence.

What this means:
Hayes’ purchase might encourage other traders to follow, helping to keep prices stable around $1.80. However, large sell-offs like Polychain’s could trigger more selling pressure. Also, PENDLE’s price is becoming less tied to Ethereum’s price, indicating it’s developing its own market behavior as a “DeFi beta” asset.

2. YieldFi Adoption Surge (Bullish Impact)

Overview:
Pendle’s total value locked (TVL) jumped to $3.4 billion in the last quarter of 2025, a 45% increase from the previous year. This growth is driven by new features like liquid restaking (through EigenLayer), real-world asset integration, and stablecoin strategies. Partnerships with platforms like Ethena’s USDe and HyperEVM, which added $515 million in TVL in just 2.5 weeks, highlight strong market demand.

What this means:
Historically, every $1 billion increase in TVL has led to an 18-22% rise in PENDLE’s price. The protocol also rewards holders who lock their tokens (vePENDLE lockers) with 80% of fees, creating buying pressure. However, this depends on maintaining monthly trading volumes above $100 million.

3. Tokenomics & Macro Risks (Bearish Impact)

Overview:
Unlike some tokens with fixed supplies, PENDLE has unlimited supply. Although 37% of tokens are locked, new tokens are still released at about 2% inflation annually after 2026, which can dilute existing holders. Additionally, if the Federal Reserve delays cutting interest rates, yields on Pendle’s products could shrink, reducing demand.

What this means:
If interest rates stay high into 2026, Pendle’s average annual yield (currently 8.8%) may decrease, making it less attractive to traders. Technical analysis shows $1.67 as a critical support level—if prices fall below this, automated sell-offs could push the price down to around $1.20.

Conclusion

Pendle’s future price depends on whether its growth in real-world asset integration can overcome macroeconomic challenges and token supply inflation. Arthur Hayes’ support and the rise of yield tokenization suggest a potential price target above $2.50. However, the token has dropped 65% over the past year, indicating strong resistance. The upcoming Boros upgrade, which introduces perpetual yield markets, could attract more institutional investors to balance out token unlocks. Watch for a weekly close above $1.95—this would signal a break from the 2025 downtrend and a more bullish outlook.

What are people saying about PENDLE?

The Pendle community is divided between excitement about its yield opportunities and concerns about selling pressure. Here’s what’s trending right now:

1. Excitement about yield innovation – Leading in tokenizing real-world assets
2. Debates over price swings – Optimistic technical targets vs. big investors selling
3. Moves by big players – Institutional buying versus profit-taking

Deep Dive

1. @Nicat_eth: Yield Tokenization Leader 👑 Bullish

"Pendle’s $3.57 billion in total value locked (TVL) in real-world assets and liquid staking tokens makes it a key player in DeFi’s yield space."
– 7.5K followers · 15.7K views · 2025-12-03 06:25 UTC
View original post
What this means: More institutions are interested in tokenized Treasury bills and staking derivatives, which could boost Pendle’s revenue. However, competition from projects like EigenLayer could pose challenges.

2. @MichaelEWPro: $29 Price Target Still Possible 🎯 Bullish

Using Elliott Wave analysis, Pendle could increase by 550% to $29.25 if it stays above $4 support.
– 89K followers · 2.9K views · 2025-06-09 18:30 UTC
View original post
What this means: Technical traders see the current price of $1.88 as a potential launch point for growth. However, the Relative Strength Index (RSI) at 69 suggests the asset might be overbought in the short term.

3. @Lookonchain: Big Investors Selling 🐳 Bearish

Polychain Capital sold 4.1 million PENDLE tokens (worth $8.3 million) at a $4 million loss on December 20, 2025.
– 452K followers · 28K views · 2025-12-20 07:40 UTC
View original post
What this means: Early investors are cashing out despite Pendle’s strong fundamentals, creating selling pressure. The $2 price level is now an important support to watch.

Conclusion

The overall outlook on $PENDLE is cautiously optimistic. Its platform for yield tokenization is attracting institutional interest, but upcoming token unlocks (over 114 million PENDLE tokens) and selling by large holders keep the price volatile. Keep an eye on the TVL to Market Cap ratio, which is currently 0.12; historically, when this ratio rises above 0.2, it often signals a price rally. With notable figures like Arthur Hayes buying and Polychain selling, Pendle remains a key player in DeFi, balancing between strong belief in its future and profit-taking.

What is the latest news about PENDLE?

Pendle (PENDLE) is gaining attention as key investors increase their holdings and technical signals point to potential growth, even as the overall DeFi market shows mixed feelings. Here’s a quick summary of the latest developments:

1. Arthur Hayes Buys $973K in PENDLE (Dec 28, 2025) – The BitMEX co-founder made a large purchase as the token showed signs of breaking out, matching a rise in trading activity and positive technical indicators.
2. Hayes Invests During Market Dip (Dec 27, 2025) – Despite a general crypto market drop, Hayes bought nearly $1 million in PENDLE, signaling confidence in DeFi projects when others are selling.
3. Portfolio Moves Toward DeFi Tokens (Dec 26, 2025) – Hayes shifted $2.52 million from Ethereum (ETH) into PENDLE and other DeFi tokens, betting on the growth of yield-focused investments.

In-Depth Look

1. Arthur Hayes Buys $973K in PENDLE (Dec 28, 2025)

What happened:
Arthur Hayes purchased about 550,000 PENDLE tokens, worth roughly $973,000, right as the price broke out of a downward trend and climbed back above $1.88. At the same time, trading activity increased significantly, with more open contracts and higher volume. Technical tools like the MACD indicator turned positive, suggesting the price could keep rising if it holds above $1.95.

Why it matters:
This move is a positive sign for PENDLE. Hayes’ buying shows he expects DeFi to gain momentum soon. The steady increase in trading and a technical breakout reduce the chance of sudden price drops, making it more likely the price will continue upward. (AMBCrypto)

2. Hayes Invests During Market Dip (Dec 27, 2025)

What happened:
When the overall crypto market fell by about 1.3% due to concerns like a U.S. government shutdown and a rise in silver prices, Hayes still bought PENDLE as part of a $1.95 million investment in DeFi tokens. Even though PENDLE’s price had dropped 28% over the past month, it stayed stable near $1.87, and traders in derivatives markets remained active.

Why it matters:
This shows cautious optimism for PENDLE. Hayes’ purchase during a market downturn suggests he believes in the strength of yield-generating DeFi projects. However, broader economic uncertainties and low market confidence might limit how much the price can rise in the short term. (CoinMarketCap)

3. Portfolio Moves Toward DeFi Tokens (Dec 26, 2025)

What happened:
Hayes moved $2.52 million out of Ethereum and into PENDLE (making up nearly half of his portfolio), along with other DeFi tokens like LDO and ENA. He cited improving liquidity and the potential for DeFi to outperform other sectors. PENDLE’s derivatives funding rates also turned positive, indicating growing interest from institutional investors focused on yield strategies.

Why it matters:
This is a strong sign of institutional interest in PENDLE and similar tokens. It highlights confidence in DeFi’s future, especially in products designed to generate steady returns. Still, competition within DeFi and PENDLE’s unlimited token supply could present challenges over time. (CoinMarketCap)

Conclusion

Pendle’s recent price action and Arthur Hayes’ significant purchases suggest potential for growth, supported by technical signals and institutional interest. However, the broader success of PENDLE depends on wider adoption of DeFi and overall market conditions. The key question remains: can momentum from big investors overcome ongoing market uncertainty?

Why did the price of PENDLE fall?

Pendle (PENDLE) dropped 2.5% in the last 24 hours, falling more than the overall crypto market’s 1.8% decline. This was driven by general market caution, technical resistance around $1.95, and profit-taking after Arthur Hayes recently bought $973K worth of PENDLE.

1. Market caution – Crypto selloff due to risk concerns (-1.8% market cap)
2. Technical resistance – Price hit a key level at $1.95 and pulled back
3. Profit-taking – Traders selling after Hayes’ big purchase (Dec 26-28)

Deep Dive

1. Market Caution and Risk Aversion (Negative Impact)

What happened: The crypto market lost 1.8% of its value (about $54 billion) amid worries about a possible U.S. government shutdown and large Ethereum sales by institutions (CMC). Pendle’s price followed this trend, with 59,000 traders liquidated worldwide.

What it means: Pendle’s price moves closely with the broader crypto market (correlation of 0.71 with Bitcoin). The Fear & Greed Index is at 29, signaling “Extreme Fear,” which tends to increase selling pressure, especially on mid-sized DeFi tokens like PENDLE.

2. Technical Resistance at $1.95 (Mixed Impact)

What happened: PENDLE’s price hit resistance at the $1.95 level, which corresponds to a key Fibonacci retracement point from a recent rally on December 28. The 4-hour Relative Strength Index (RSI) is at 40.66, showing weakening buying momentum.

What it means: Buyers couldn’t keep the price above the 30-day moving average ($2.13), causing some stop-loss orders to trigger and pushing the price down. However, the MACD indicator shows a positive signal (+0.0226), which could mean a potential price reversal if support at $1.67 holds.

What to watch: If PENDLE can close above $1.95 consistently, it could break the current downtrend.

3. Profit-Taking After Whale Buying (Negative Impact)

What happened: Arthur Hayes, founder of BitMEX, bought 549,868 PENDLE tokens worth $973,000 between December 20 and 28 (AMB Crypto). Open interest in derivatives rose 7% during this time but has since leveled off.

What it means: After a 6.18% weekly gain, short-term traders likely took profits, especially as Hayes shifted 60% of his portfolio into stablecoins, signaling caution.

Conclusion

Pendle’s recent price drop reflects a mix of broader market uncertainty, hitting technical resistance, and traders cashing out after a big whale purchase. While the fundamentals of DeFi remain solid (with $3.57 billion in total value locked), the price will depend on whether the $1.67 support level holds.

Key watch: Can PENDLE reclaim $1.95 as Bitcoin battles the $87,000 mark? If not, the price could retest December lows near $1.66.