$PENDLE Finance's unique yield structure nets approximately $4 billion in TVL.
Pendle trade volume yield-bearing strategies surpass $10 billion.
Pendle TVL is rising due to restaking measures.
On-chain measurements may boost pendle pricing.
According to DeFiLlama, Pendle Finance's TVL rose to $3.97 billion on Thursday because to rising fees and trading volume. Restaking techniques using Pendle to boost yields contributed to the huge rise.
Pendle grows
According to DeFiLlama, Pendle Finance has grown 1,500% since January, from $233 million to $3.97 billion on Thursday. Thus, Pendle is the biggest crypto DeFi yield protocol.
Dune analytics screen reveals Pendle's trading volume had exceeded $10 billion and fees have increased 600% in four days. Due of Pendle's high output, much growth has occurred.
Pendle tokenizes yields by splitting assets into principle tokens (PT) and yield tokens (YT), creating a new yield-bearing mechanism. This lets dealers exchange yields. Pendle's 24-hour average yield is 59.6%.
Restaking mechanisms boost Ethereum.
Most Pendle tokens originate from restaked Ethereum in EtherFi and Renzo, therefore its growth follows Ethereum's restaking explosion. Due to increasing trading of yield tokens tied to Ethena's synthetic Dollar, USDe, its fees have risen.
After its airdrop tokens launched on Tuesday, Ethena gained notice. USDe's Pendle growth shows investors are understanding they can leverage Ethena's high returns for even greater rewards via pools.
Despite increasing interest, Pendle's price hasn't peaked. Its locked value exceeds its $517 million market cap. This Thursday, Pendle rose nearly 10% to $5.55.
On Tuesday, Coin*** analysts voiced worries about restaking processes and how too much liquid restaking might be problematic, despite strong returns
Crypto traders should do their research before trading.