Pendle (PENDLE)

The price of Pendle Finance (PENDLE) has seen a notable rise in recent days. It is in the spotlight next week due to the significant price increase. The token has gained 55% in the last seven days. Thus, it stood out as one of the hottest cryptocurrencies on the market. This increase is in line with significant growth in other key metrics on the platform. Notably, DeFiLlama data shows that Pendle's total value locked has reached $4.116 billion. This represents an impressive growth of over 1,600% in 2024 alone. As such, Pendle solidifies its position as one of the largest DeFi yield protocols.
It is possible to attribute this increase in value to several factors, including the resurgence boom in Ethereum (ETH) and the increased trading of yield tokens related to Ethena's synthetic Dollar, USDe. The price increase has also earned the token praise from industry influencers. Arthur Hayes expressed his admiration for the project. Furthermore, he described it as "the future of decentralized finance." At the time of writing, PENDLE was trading at $7.18, an increase of almost 30% in the last 24 hours.
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