đŽ $PENDLE Can Reach Upto $20 đŽ
PENDLE is showing strong potential to surpass $20 in this market cycle, driven by several bullish factors. Key metrics highlight robust growth, with cumulative yield trading volume reaching $24 billion. In just two weeks, PENDLEâs total value locked surged by $500 million to $3.85 billion, and trading volume nearly tripled from $30 million to $84 million2. Additionally, 35.5% of circulating PENDLE is locked as vePENDLE, and the protocol has generated $18.58 million in annual fees.
Several catalysts are expected to drive PENDLEâs future growth. The launch of the ETH ETF this week is a significant event, as PENDLE has historically been a top pick for ETH betas. The opening of yield markets with ETH staking is anticipated to boost yield trading and attract institutional attention. Collaborations with notable projects, such as BTC fi with [redacted], L1 projects like @monad_xyz and @berachain, and upcoming Binance-backed L2s like @ZircuitL2, further bolster PENDLEâs prospects2. Additionally, new Real-World Asset (RWA) pools are set to launch, diversifying PENDLEâs offerings and attracting more users.
Pendle V3, slated for Q4, will unlock leveraged yield trading, expected to attract massive institutional interest2. With these catalysts aligning, PENDLE is poised to solidify its position as the de facto market for yield trading in the crypto sector and is expected to reach and surpass the $20 mark in this market cycle
#PENDLEđ„đ„ #link #btc #Bitcoin_Coneference_2024 #BinanceTurns7
