Why PENDLE’s Price Might Surge Beyond $20 This Cycle
Release: 2024/07/23 19:30 Reading: 778
Why PENDLE's Price Might Surge Beyond $20 This Cycle
PENDLE has experienced significant growth, as evidenced by its strong metrics. The cumulative yield trading volume has reached $24 billion, and the total value locked (TVL) has increased by over $500 million in two weeks, rising to $3.85 billion. Additionally, trading volume has nearly tripled from $30 million to $84 million within a week. These metrics indicate strong market confidence and substantial activity within the PENDLE ecosystem.
Catalysts are expected to drive further growth for PENDLE. The launch of the ETH ETF this week is a key 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 towards ETH markets.
Other catalysts include the launch of the LRT token and collaborations with notable projects such as BTC fi, Monad, and Binance-backed L2s like Zircuit. Additionally, new Real-World Asset (RWA) pools are set to launch, diversifying PENDLE's offerings and attracting more users.
Pendle V3, slated for Q4, will unlock leveraged yield trading, which is expected to attract massive institutional interest. With these catalysts aligning for Q4, PENDLE is poised to solidify its position as the de facto market for yield trading in the crypto sector.
In conclusion, PENDLE's metrics, upcoming catalysts, and strategic collaborations indicate a strong potential for price appreciation. With these developments unfolding, PENDLE is expected to reach and surpass the $20 mark in this market cycle.
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