What could affect the price of PENDLE?
The future price of Pendle (PENDLE) depends on upcoming protocol upgrades, changes in market sentiment, and the adoption of real-world assets.
- Tokenomics Update: The launch of sPENDLE replaces vePENDLE, adding buybacks and improving liquidity.
- Institutional Activity: Big investors show mixed behavior, causing price swings.
- Real-World Asset Growth: Integration of real-world assets strengthens Pendle’s position in the yield market.
Deep Dive
1. Token Upgrade Highlights (Positive for Price)
Pendle is rolling out an upgrade called sPENDLE on January 20, 2026. This replaces the old vePENDLE system with liquid staking, which allows the protocol to buy back tokens using its revenue. Withdrawals will take 14 days. Emissions (new tokens released) will be cut by 20-30% through automated incentives. Current holders can earn up to 4 times more rewards during the transition period ending January 29. Crypto Briefing
Why it matters: Lower emissions reduce selling pressure, and buybacks create demand, both of which could push PENDLE’s price higher. In the past, Pendle’s total value locked (TVL) increased by 76% year-over-year to $5.7 billion during similar upgrades, indicating that token value often rises with adoption.
2. Whale Activity & Market Sentiment (Mixed Signals)
Some large investors, like Arca, bought $8.3 million worth of PENDLE in June 2025. However, Polychain sold $13 million at a $4 million loss in December 2025. Social media mentions have dropped 11% recently, and the Relative Strength Index (RSI) is at 41.68, showing neutral market sentiment. AMBCrypto
Why it matters: These conflicting moves by big players create short-term price swings. If PENDLE stays above the $1.81 support level, it could bounce back. But if it falls below that, the price might drop further to around $1.65.
3. Real-World Asset (RWA) Growth & Yield Demand (Positive for Price)
Pendle leads in tokenized treasury markets, with projects like SolvBTC.BNB reaching $160 million in TVL and Theo Network integrating thBILL tokens. Boros, Pendle’s perpetual funding platform, hit $6.9 billion in open interest within four months and aims for 10 times growth in the $63 billion perpetual markets. Theo Network
Why it matters: Real yield from these assets generates protocol fees, which reached $44.6 million in 2025—a 134% increase from the previous year. These fees help fund buybacks, benefiting PENDLE holders. If TVL grows beyond $6 billion, the market cap to TVL ratio (currently 0.127) could shrink, potentially increasing the token’s value.
Conclusion
Pendle’s upcoming upgrade and expansion into real-world assets could drive a price recovery. However, short-term risks remain due to unpredictable moves by large investors. The key question is whether Boros’ rapid growth in open interest can overcome broader market challenges and justify a premium for Pendle’s yield infrastructure.
What are people saying about PENDLE?
Pendle’s outlook is cautiously optimistic as it balances a major token upgrade and price recovery against ongoing volatility concerns. Here’s what’s happening:
- Token upgrade to sPENDLE aims to improve liquidity and user participation
- Traders watch for a $2.35 price breakout after a 9% daily increase
- Record growth in 2025 sets Pendle up as a leader in yield-focused decentralized finance (DeFi)
Deep Dive
1. CoinMarketCap: Pendle moves to liquid staking with sPENDLE
"Pendle has replaced its vePENDLE lockup system with a liquid staking option called sPENDLE, cutting withdrawal times from years down to just 14 days."
– CoinMarketCap · January 20, 2026, 10:55 PM UTC
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What this means: This is a positive change for PENDLE because faster withdrawals make it easier for users to access their tokens. This could attract more participants and increase liquidity, addressing a previous issue where only 20% of tokens were actively staked despite the protocol generating $37 million in revenue.
2. CoinMarketCap: Pendle price shows breakout potential
"Pendle’s price jumped 9% in 24 hours to $2.07, with open interest rising 10% to $45 million, indicating trader confidence ahead of the $2.35 resistance level."
– CoinMarketCap · January 20, 2026, 05:25 AM UTC
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What this means: This is a good sign for PENDLE because increasing open interest and holding above $2.00 suggest that traders are accumulating the token. However, to keep this momentum going, the price needs to maintain support around $1.95.
3. cryptopotato: Pendle reports record growth in 2025
"Pendle posted an average Total Value Locked (TVL) of $5.8 billion (up 79% year-over-year), $47.8 billion in trading volume, and $40 million in annualized revenue in 2025, ranking it among the top DeFi protocols."
– cryptopotato · December 9, 2025, 05:04 PM UTC
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What this means: This strong performance highlights Pendle’s solid fundamentals, positioning it as a key player in DeFi’s yield generation space. Continued adoption of Boros funding-rate derivatives will be important to maintain this growth.
Conclusion
The overall sentiment on Pendle is cautiously positive, weighing the benefits of the token upgrade against past price volatility. Keep an eye on the $2.35 resistance level this week — breaking above it could confirm a recovery trend, while failure might lead to further price consolidation.
What is the latest news about PENDLE?
Pendle is transforming its token system to be more user-friendly and expanding its yield ecosystem. Here’s the latest update:
- Token Model Upgrade (January 20, 2026) – Pendle introduced sPENDLE, a liquid staking token that reduces withdrawal times from years to just 14 days, making it easier for users to access their funds.
- Boros Platform Growth (January 20, 2026) – Boros, Pendle’s platform for perpetual contracts, now has $6.9 billion in open interest, showing strong interest from institutional investors.
- Price Update After Upgrade (January 20, 2026) – PENDLE is trading at $1.92, down 15% over the past week but up 2.4% following the upgrade announcement.
In-Depth Look
1. Token Model Upgrade (January 20, 2026)
What Happened:
Pendle replaced its old vePENDLE system, which required locking tokens for years, with a new liquid staking token called sPENDLE. This change cuts withdrawal waiting times from years to just 14 days. Previously, only about 20% of PENDLE tokens were actively staked because the old system was complicated and discouraged participation. Now, holders of the old vePENDLE tokens receive up to 4 times more sPENDLE based on how much longer their tokens were locked, with this bonus decreasing over two years.
Why It Matters:
This upgrade makes it easier for people to earn rewards and participate in governance, encouraging more users to stay engaged. However, there is a 5% fee for users who want to withdraw immediately, which might affect short-term liquidity. (CoinMarketCap)
2. Boros Platform Growth (January 20, 2026)
What Happened:
Boros, Pendle’s platform for trading perpetual contracts (a type of financial derivative), has quickly grown to $6.9 billion in open interest and generated $301,000 in fees within just four months. It recently added a new contract for NVDAUSDC-Hyperliquid and plans to expand into equity-based contracts like the S&P 500 and Tesla (TSLA).
Why It Matters:
Boros is helping Pendle diversify its income beyond traditional yield farming by entering the large $63 billion perpetual contracts market. While this growth is promising, Boros will face competition from well-established derivatives platforms. (Crypto Briefing)
Conclusion
Pendle’s focus on making its token system more accessible with sPENDLE and expanding into institutional-grade products like Boros positions it well to meet growing demand in decentralized finance (DeFi) for yield and derivatives. The upgrades solve previous challenges, but it remains to be seen if Pendle can sustain its impressive 76% year-over-year growth in total value locked (TVL) amid broader market challenges. Keep an eye on how quickly sPENDLE is adopted and how Boros expands its offerings for signs of future success.
What is expected in the development of PENDLE?
Pendle is moving forward with key updates:
- sPENDLE Token Upgrade (January 29, 2026) – Switching to a liquid staking token that offers protocol-funded buybacks and simpler governance.
- Boros Expansion (2026) – Adding new equity-based perpetual contracts like NVDAUSDC to Pendle’s yield platform.
- Cross-Chain Integrations (2026) – Launching Pendle on additional blockchains like Solana, TON, and Hyperliquid.
Deep Dive
1. sPENDLE Token Upgrade (January 29, 2026)
What’s happening? Pendle is replacing its old vePENDLE token model with sPENDLE, a liquid staking token. This means holders can now stake their tokens but still have more flexibility to withdraw or redeem them. The protocol will use its revenue to buy back PENDLE tokens and distribute these benefits to sPENDLE holders. Withdrawals take 14 days unless users pay a 5% fee for instant redemption. Instead of manual voting to control token emissions, an automated system will manage this. Existing vePENDLE holders get up to 4 times more sPENDLE based on how long they had their tokens locked (Cryptopotato).
Why it matters: This upgrade is positive for PENDLE because it makes staking more attractive by improving liquidity and reducing the time tokens are locked up. The buyback program could also increase demand for PENDLE. However, moving to the new system might cause some short-term price swings.
2. Boros Expansion (2026)
What’s happening? Boros is Pendle’s platform that lets users trade perpetual contracts based on funding rates. It currently supports the NVDAUSDC-Hyperliquid market but plans to add more equity-based perpetual contracts. Since launching in August 2025, Boros has handled $6.9 billion in open interest and aims to tap into the much larger $150 billion derivatives market (CoinMarketCap).
Why it matters: This expansion is good news for PENDLE because it brings in new revenue sources linked to traditional financial assets. However, there are risks like increased regulatory attention on equity-related products and dependence on partner exchanges to operate smoothly.
3. Cross-Chain Integrations (2026)
What’s happening? Pendle will expand beyond Ethereum-compatible blockchains by launching on Solana, TON, and Hyperliquid. This follows the success of its HyperEVM integration, which attracted $515 million in total value locked (TVL) within just 2.5 weeks (NullTX).
Why it matters: Being available on multiple blockchains can significantly increase Pendle’s user base and the amount of assets managed on its platform. However, there are challenges like potential security risks when moving assets between chains and the possibility of liquidity being spread too thin.
Conclusion
Pendle’s upcoming upgrades focus on making staking more flexible (sPENDLE), expanding into traditional financial products (Boros), and growing its presence across multiple blockchains. These moves could strengthen Pendle’s position compared to traditional fixed-income markets, but success will depend on smooth execution and managing associated risks.
What updates are there in the PENDLE code base?
Pendle’s development team is actively improving the platform, focusing on security, infrastructure, and making it easier for developers to work with.
- HyperEVM Safe Address Migration (Dec 2025) – Strengthened security for operations across different blockchains.
- Chainlink Oracle Deployment (Nov 2025) – Improved price data accuracy for yield markets.
- Foundry Codebase Reformat (Nov 2025) – Simplified and standardized smart contract testing and auditing.
Deep Dive
1. HyperEVM Safe Address Migration (Dec 2025)
What happened: Pendle updated the secure addresses used in its HyperEVM integrations. This means they improved how the system controls who can perform important actions, like moving funds or changing settings, especially when working across multiple blockchains.
Why it matters: This upgrade lowers the risk of attacks during cross-chain operations, which is important because Pendle’s strategy depends on working smoothly across different blockchain networks. This is a positive sign for the platform’s security and reliability. (Source)
2. New Chainlink Oracle Deployment (Nov 2025)
What happened: Pendle implemented updated Chainlink oracles, which are tools that provide accurate price information for assets that generate yield, like certain tokens representing staked assets or real-world assets.
Why it matters: Accurate and timely price data is essential for Pendle’s system to value its tokens fairly as market prices change. While this update needs some testing to confirm smooth integration, it’s a positive step toward making Pendle a more trustworthy marketplace for yield products. (Source)
3. Foundry Codebase Reformat (Nov 2025)
What happened: The Pendle development team reorganized their core code using Foundry, a popular Ethereum development toolkit. This change introduced better testing methods and automated security checks.
Why it matters: These improvements reduce the chance of mistakes and make it easier for developers to work together. Faster and safer updates mean Pendle can keep up with the fast pace of decentralized finance (DeFi) innovation. (Source)
Conclusion
Pendle’s recent updates show a clear focus on making the platform more secure and scalable, supporting its growth as a hub for yield opportunities across multiple blockchains. While technical, these changes build user trust and improve the protocol’s reliability. Looking ahead, Pendle’s strong developer activity could lead to quicker integration with new real-world asset (RWA) platforms, expanding its reach and functionality.
Why did the price of PENDLE fall?
Pendle (PENDLE) saw a slight drop of 0.27% in the past 24 hours, which is small compared to its 13.9% decline over the past week. Here’s why:
- Token Upgrade Transition – Moving to the new sPENDLE liquid staking system caused some short-term uncertainty.
- Technical Weakness – The price fell below important support levels, showing bearish signals.
- Market-Wide Pressure – The overall crypto market cap dropped 4.7%, with neutral investor sentiment.
Main points:
- Token Model Changes (Mixed Effects)
- Bearish Technical Indicators
- General Crypto Market Pullback
Deep Dive
1. Token Model Changes (Mixed Effects)
What happened: On January 20, Pendle switched from its old vePENDLE system, which locked tokens for years, to a new sPENDLE system that allows withdrawals after just 14 days. This update also introduced buybacks funded by the protocol’s revenue (CoinMarketCap).
Why it matters: This change makes the token easier to access and more liquid in the long run. However, during the transition period (ending January 29), there’s some uncertainty. Current vePENDLE holders get extra rewards in sPENDLE, but new token locks are paused, which might reduce demand temporarily.
What to watch: How quickly users adopt sPENDLE after January 29 and how much revenue the protocol uses for buybacks.
2. Bearish Technical Indicators
Current status: PENDLE is trading at $1.94, below its 7-day average price of $2.06 and 30-day average of $2.03. The Relative Strength Index (RSI) is 40.79, indicating neutral momentum, but the MACD shows ongoing bearish pressure.
What this means: Traders see $1.81 as a key support level. If the price falls below this, it could drop further toward the yearly low of $1.66.
Key level: Staying above $1.81 is important to avoid more selling pressure.
3. General Crypto Market Pullback
Market overview: The total value of all cryptocurrencies dropped 4.7% in the last day, while Bitcoin’s market share increased to 59.15%. Pendle’s small decline of 0.27% was better than the overall market but still affected by cautious investor sentiment.
Why it matters: As a mid-sized DeFi token, Pendle is sensitive to shifts in investor interest. The Altcoin Season Index at 28/100 shows investors are still cautious about alternative cryptocurrencies.
Conclusion
Pendle’s small drop over 24 hours reflects both the uncertainty from its token model update and broader market challenges. While the new sPENDLE system could improve the token’s fundamentals over time, short-term technical signals and overall market sentiment remain obstacles.
What to watch: Can PENDLE hold the $1.81 support level? Will sPENDLE’s liquidity after the transition meet expectations?