Bitcoin price is recovering, altcoins are turning green, and some are seeing double-digit gains. Every period has its standout altcoins that can see huge gains at the peak of the bull run. In 2024, we have witnessed many of these altcoins.
Pendle Finance
The Ethereum-based DeFi protocol Pendle Finance allows for yield farming by splitting assets into principal tokens and yield tokens. This allows investors to earn up to 47% annualized returns when trading tokens based on the underlying asset. Pendle and its competitors are more popular today than when they were launched in 2021.
We mentioned that the token price has risen fivefold this year, and the increase in activity is related to the expected airdrop of EigenLayer. Investors deposited Ether re-collateralized tokens eETH into the Pendle Finance platform for the upcoming airdrop. Ethena's increase in the USDe pool cap to 400 million also supported the price increase.
PENDLE is a long-term coin that we focus on red layout. We started the layout at 0.6, and the average price is around 0.85. How many times has it earned so far? Let's do the math class representative to calculate it. The bull market has no direction. Friends who don't want to miss this bull market because they can't choose the right currency can follow me! See my homepage
PENDLE price prediction
The token price may continue to rise as the number of network participants grows. The total locked value (TVL) of the protocol has reached 4 billion US dollars. Considering that Pendle's TVL at the beginning of the year was 233 million US dollars, the TVL has increased by 1500%, and the token price has increased fivefold, indicating that the potential is still huge. The platform's total transaction volume has risen to 10.5 billion US dollars, and people have shown strong interest in protocols on layer 2 networks such as Arbitrum and Mantle. 🐳qun秆崴:tq58956 👈 The story of re-staking is expected to gain more attention in this bull market, and Pendle is igniting a new era of DeFi.
BitMEX co-founder Arthur Hayes declared the protocol to be the "future of DeFi". We announced on August 23, 2023 that Binance had invested in PENDLE, and since then, the price has increased by 1243% in 227 days and is currently trading just below the peak of $7.3. If the price can sustain above $6.5, it may head towards a higher peak in the short term.The long-term double-digit price target also appears achievable.
