PENDLE is on the rise with several bullish factors suggesting it will surpass $20 in this market cycle. According to Defi_Mochi, key metrics and upcoming catalysts position PENDLE as a standout player in the crypto market.
$PENDLE bull thesis -> Why $PENDLE is going beyond $20 this cycle—————–Metrics$24B Cumulative yield trading volumeGrew TVL by > $500m in two weeks from $3.35B to $3.85B Nearly tripled trading vol from $30m to $84m in a week35.5% of circulating…
— Defi_Mochi (@defi_mochi) July 22, 2024
PENDLE’s Key Metrics Highlighting Growth
PENDLE has metrics that signal robust growth. The cumulative yield trading volume has reached around $24 billion as noted by Defi_Mochi.
Additionally, in two weeks, PENDLE’s total value locked surged by $500M, rising to $3.85 billion. Besides, this growth was accompanied by nearly tripling its trading volume, from $30 million to $84 million within a week.
Furthermore, 35.5% of circulating PENDLE is locked as vePENDLE, and the protocol has generated $18.58 million in annual fees. These metrics indicate strong market confidence and substantial activity within the PENDLE ecosystem.
Catalysts Driving Future Growth
Several catalysts are expected to propel PENDLE beyond $20. Firstly, the launch of ETH ETF this week is a key event.
Historically, PENDLE has been a top pick for ETH betas alongside PEPE and ENS. The opening of yield markets with ETH staking is anticipated to boost yield trading, attracting institutional attention towards ETH markets.
Another catalyst is the launch of the LRT token. The introduction of permissionless restaking by @LidoFinance, a universal restaking layer by @Karak_Network, modular infrastructure for LRT creation by @mellowprotocol, and multi-asset restaking LRT by @Bedrock_DeFi are key developments. These innovations are expected to boost the utility and appeal of PENDLE.
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Collaborations and Upcoming Launches
Collaborations with notable projects further bolster $PENDLE’s prospects. BTC fi with [redacted], highly anticipated L1 projects such as @monad_xyz and @berachain, and upcoming @binance-backed L2s like @ZircuitL2 are noteworthy collaborations.
Additionally, new Real-World Asset (RWA) pools are set to launch, diversifying PENDLE’s offerings and attracting more users.
Moreover, Pendle V3 is another launch slated for Q4. This upgrade will unlock leveraged yield trading, which is expected to attract massive institutional interest, courtesy of @pendle_fi’s elite business development team.
With these catalysts aligning for Q4, PENDLE is poised to solidify its position as the de facto market for yield trading in the crypto sector.
Conclusion
Hence, PENDLE’s metrics and the upcoming catalysts and strategic collaborations, indicate a strong potential for price appreciation. Besides, with these developments unfolding, PENDLE is expected to reach and surpass the $20 mark in this market cycle.
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