What you need to know
Pendle’s prices surged after its HyperEVM Integration, Record Staking and Rising TVL. Binance’s whale deposits created uncertainty and made the $7.50 price resistance crucial for short term direction.
As of the date this article was written, Pendle [PENDLE] According to CoinMarketCap, the price of Bitcoin rose by 38% over a seven-day period, and trading volumes soared by 414%. data.
With over 90% of supply already unlocked, traders eyed August 11 for the next token release — a point that could spark profit-taking.
HyperEVM debut adds fresh catalyst
This rally was held just a day following Pendle announced Ethena’s [ENA]HyperEVM is launching alongside $100,000,000 capped pools with 30x Sats.
According to Pendle, the pools had fixed returns of 8.8% as well as LPs yields at 378%.
Source:
Pencosystem was integrated into the Pendle announcement, which positioned Pendle even deeper within the fixed-yield market. “just around the corner.”
PENDLE Price Breaks Out, But Can It Hold?
PENDLE completed a test at $3.50 on the daily timeframe after breaking from its symmetrical wedge. Since April 20, 2024, the altcoin has been trading in a range of $2.50 to $7.50.
The first spike was rejected by $5. However, the second surge blew through this resistance.
Continued momentum may lead to an 116% increase in price. There was, however, a roadblock at $7.50 to achieve this goal.
Source: X
This projection could be invalidated if the price does not hold at $5. As markets go through cycles, these price increases are usually followed by corrections.
Protocol growth, Staking and TVL
Pendle DeFi Profile Strengthened in Parallel
Following the SEC’s clarification that staking wasn’t a security (it isn’t), yield-based protocols have seen resurgence in their popularity.
Pendle also launched Boros. Arbitrum [ARB], enabling users to trade Funding Rates as yield — broadening tokenization use cases.
Around 35.69% or $307 million of PENDLE’s market capitalization was bet.
Total Value Locked has reached an impressive $8 billion. Ethereum alone is worth $7.41billion, which puts $10 billion in reach.
Source: DefiLlama
In addition, the volume of its DEX in the past month reached $5.15 billion. The annual fees for this company were about $53 millions, and its liquid assets are $25 million.
These all point to strength. Especially now that stake is not considered a security. However, concerns were raised regarding the activities a wallet connected to Pendle Finance.
Whale wallet raises concerns about profit-taking
Still, caution crept in after SpotOnChain Flagged a multisig wallet connected to Pendle Finance.
At the time of publication, Binance had received about 900K Tokens with a value of $4.65 Million. This was immediately after the quick rise in the price.
This wallet was largely accumulated by 2025. A major transfer of $63,000,000 earlier this year added liquidity. The wallet still had tokens worth $135.4 millions, so further sales could have an impact on momentum.
SpotOnChain
Whale activity suggests that the rally might not continue in one direction.
The 116% PENDLE target will remain on the table for the near future if the demand generated by staking or new integrations continues.
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Source: ambcrypto.com
