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PENDLE Price Surges, Analyst Projects $20 Target for Q4
The PENDLE price is up 12.5% today in what’s otherwise a pretty boring crypto market. This means the coin is now trading above $4.7.
This level represents a significant resistance point for PENDLE, having faced rejection twice before – once in July and again in September. The current price also marks PENDLE’s highest position since June.
Prominent crypto analyst Defi_Mochi, who commands a following of nearly 100,000 on X (formerly Twitter), shared insights on why PENDLE could reach $20 in Q4 – a potential 4x increase from current levels.
Why $PENDLE is heading for $20 this Q41/5 pic.twitter.com/UedsnCbosU
— Defi_Mochi (@defi_mochi) October 17, 2024
Growing Ecosystem and Market Position
PENDLE has established itself as a crucial liquidity provider across various crypto ecosystems. The platform has helped secure over $500 million in TVL (Total Value Locked) in the BTCfi ecosystem and facilitated more than $944 million in USDe through Ethena Labs alone. Its total TVL has reached an impressive $2.49 billion, enabling yield farming and fixed-yield opportunities.
With global liquidity on the rise and renewed interest in crypto markets, yield trading platforms are expected to gain momentum. PENDLE stands as the leading yield trading platform across crypto, having processed over $30 billion in cumulative yield trading volume.
Source: X/@defi_mochi
The upcoming Pendle V3 release is positioned to drive substantial growth in trading volume. Key features include yield trading markets across multiple chains and leveraged yield trading capabilities. The platform’s strategic partnerships are expected to further expand its TVL.
The analyst’s $20 price target factors in several metrics, including a Price to TVL ratio of 0.28 and a total staked to market cap percentage of 33%. The platform currently processes around $60 million in 24-hour trading volume. PENDLE’s presence on major exchanges like Upbit, Binance, and Bybit, along with partnerships with protocols like Sonic Labs, positions it to tap into significant liquidity pools.
Read also: Expert Predicts Uptrend for Kadena (KDA) and Dogecoin (DOGE) After Successful Retest: Key Levels Revealed
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more Visit eToro Now Active user community and social features like news feeds, chats for specific coins available for trading. Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. Copy trading: allows users to copy the trades of leading traders, for free. User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
The post PENDLE Price Surges, Analyst Projects $20 Target for Q4 appeared first on CaptainAltcoin.
This level represents a significant resistance point for PENDLE, having faced rejection twice before – once in July and again in September. The current price also marks PENDLE’s highest position since June.
Prominent crypto analyst Defi_Mochi, who commands a following of nearly 100,000 on X (formerly Twitter), shared insights on why PENDLE could reach $20 in Q4 – a potential 4x increase from current levels.
Why $PENDLE is heading for $20 this Q41/5 pic.twitter.com/UedsnCbosU
— Defi_Mochi (@defi_mochi) October 17, 2024
Growing Ecosystem and Market Position
PENDLE has established itself as a crucial liquidity provider across various crypto ecosystems. The platform has helped secure over $500 million in TVL (Total Value Locked) in the BTCfi ecosystem and facilitated more than $944 million in USDe through Ethena Labs alone. Its total TVL has reached an impressive $2.49 billion, enabling yield farming and fixed-yield opportunities.
With global liquidity on the rise and renewed interest in crypto markets, yield trading platforms are expected to gain momentum. PENDLE stands as the leading yield trading platform across crypto, having processed over $30 billion in cumulative yield trading volume.
Source: X/@defi_mochi
The upcoming Pendle V3 release is positioned to drive substantial growth in trading volume. Key features include yield trading markets across multiple chains and leveraged yield trading capabilities. The platform’s strategic partnerships are expected to further expand its TVL.
The analyst’s $20 price target factors in several metrics, including a Price to TVL ratio of 0.28 and a total staked to market cap percentage of 33%. The platform currently processes around $60 million in 24-hour trading volume. PENDLE’s presence on major exchanges like Upbit, Binance, and Bybit, along with partnerships with protocols like Sonic Labs, positions it to tap into significant liquidity pools.
Read also: Expert Predicts Uptrend for Kadena (KDA) and Dogecoin (DOGE) After Successful Retest: Key Levels Revealed
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more Visit eToro Now Active user community and social features like news feeds, chats for specific coins available for trading. Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. Copy trading: allows users to copy the trades of leading traders, for free. User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
The post PENDLE Price Surges, Analyst Projects $20 Target for Q4 appeared first on CaptainAltcoin.
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