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Pendle Price Prediction: On Wednesday, the cryptocurrency market witnessed renewed supply pressure after a week-long consolidation. This minor relief in most of the major altcoins including Pendle resumed bearish momentum as Bitcoin price recorded a 4% fall today to plunge below the $60000 support.
Recently, Pendle (PENDLE) has encountered notable hurdles, with its price experiencing a decrease of 36% in the past month alone. With Bitcoin price also facing a downturn and trading today at $60,000, analysts are optimistic.
Pendle has recently lost $3 billion of its TVL with the June expiry as a result of diminishing airdrop farming hype and lower yields amid muted crypto activity.
According to analyst Miles Deutscher, July is crucial for positioning in the market, with opportunities extending into August and September. Despite sideways market movements, significant opportunities exist, which can be seized, according to him. He plans to concentrate on altcoins with short to medium-term catalysts, strong narratives, and attractive price levels.
TL;DR TVL Plummets: Pendle Protocol, a DeFi platform, witnessed a 40% drop in total-value-locked (TVL) over the past week. From a peak of $6 billion in user deposits, it now stands at $3.7 billion due to massive outflows. Maturity and Airdrops: The decline is partly due to products reaching maturity, affecting Pendle's markets.
Pendle saw a 40% decrease in its total value locked, dropping from $6.18 billion on June 27 to $3.7 billion now.
Over the last week, Pendle, a popular DeFi protocol that led the EigenLayer boom, witnessed a 40% drop in the total-value-locked (TVL). At one point, Pendle had managed to gather more than $6 billion in user deposits but has now lost nearly one-third of that.
With the Bitcoin price taking a bounce back at the $60K support zone, the broader market anticipates an optimistic price movement this month. Further, the altcoins reveal a high momentum bullish trend in the low-cap sector that may soon surpass their all-time high levels.
Here is how some of your favorite assets concluded the week.
Ethena's USDe will grow its presence on Pendle and Aave. Ethena's USDe tries to build liquidity pairs on multiple protocols, to ensure its price stability and good reputation among traders.
Cardano , developed by Ethereum co-founder Charles Hoskinson, has carved out a niche for itself by focusing on academic rigor, scalability, and sustainability. The blockchain platform, managed by IOHK, emphasizes a scientific approach to development and peer-reviewed research.
As the landscape of cryptocurrency investment constantly evolves, recognizing opportunities when market dips can be a smart decision. In this article, we analyze three potentially valuable cryptocurrencies to keep in mind: Cardano (ADA), Chiliz (CHZ), and Pendle (PENDLE).
June closes in three days. So far, the broader crypto market has experienced a tumultuous period.
Pendle emerges as a beacon of innovation, offering a unique platform for trading future yields through advanced smart contracts. As investors increasingly seek opportunities beyond traditional finance, Pendle's potential as an investment has garnered significant attention.
Pendle price rose by more than 10 percent in the last week, but the buying appetite seems to be reducing steadily.
A Pendle Permit phishing scam led to a user losing $11 million in aEthMKR and Pendle USDe tokens.
The global crypto market is experiencing significant fluctuations. With Bitcoin prices hovering around $64,000, investors and enthusiasts are constantly on the lookout for promising altcoins that offer unique functionalities and strong market potential.
Trends set the performance of the altcoins, as they can raise or lower their performances. As of now, the crypto market is not in bullish behavior anymore as the fear and greed index has moved to 51, which is on the verge of turning bearish.
Despite the broader cryptocurrency market experiencing a significant downturn, Pendle has managed to buck the trend, soaring over 17% this week.
The global cryptocurrency market has been experiencing turbulent times, impacting both Bitcoin and leading altcoins. Nevertheless, in the midst of the overall market decline, some cryptocurrencies have stood out with significant growth, demonstrating the dynamic and sometimes unpredictable characteristics of the cryptocurrency industry.
One of the market's biggest gainers, PENDLE should thank Arthur Hayes now.
Pendle ($PENDLE), a cryptocurrency powering a popular decentralized finance (DeFi) protocol, has seen its price soar in recent days amid positive developments within the Pendle ecosystem and a high-profile investment from industry veteran Arthur Hayes, the co-founder of derivatives exchange BitMEX.
The week under review has seen a decline in trading activity in the cryptocurrency market. Within that period, global cryptocurrency market capitalization has dropped by 4%.
Pendle (PENDLE), a cryptocurrency powering a decentralized finance (DeFi) protocol, has experienced a price surge in recent days. This rally comes amidst positive developments within the Pendle ecosystem and a high-profile investment from industry veteran Arthur Hayes.
