Pendle

Boost

Value

Strong

<ul class="list-ic vertical"> 
 <li> 1 <a>Pendle has observed an exponential growth in holders’ addresses in the last few weeks.</a> </li> 
 <li> 2 <a>The Pendle TVL has also shown significant growth in 2024, surging to $6.577 Billion.</a> </li> 
</ul> 
Pendle has showcased impressive growth from the beginning of 2024. The Total Value Locked (TVL) has surged to $6.577 Billion, and the number of holder addresses is also increasing, showcasing impressive on-chain expansion in the last few months.&nbsp; 
On the other hand, the token also demonstrated good growth on the technical chart as the price surged from $1.25 to $7.45 in the last 5 months. 
<h2 class="wp-block-heading" id="strong-strong-tvl-increased-holders-addresses-will-it-boost-the-price-strong">Strong TVL &amp; Increased Holders Addresses: Will it Boost the Price?</h2> 
According to <a href="https://www.thecoinrepublic.com/2024/02/17/is-defillama-an-accurate-blockchain-analysis-dashboard/" target="_blank" rel="noreferrer noopener">DeFiLlama</a>, Pendle protocol TVL showed massive growth in the last 5 months. On January 5, its TVL stood at $238.58 Million; from there, it grew to $6.577 Billion. It has showcased a growth of 32.5x in the last five months. 
Meanwhile, the growth in the TVL is boosting investors’ confidence in the protocol. A higher TVL means more capital is locked in the protocol, and investors’ trust in the platform is also increasing. 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full">
 <img loading="lazy" decoding="async" width="678" height="432" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-53.png" alt="Pendle" class="wp-image-207877" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-53.png 678w, https://www.thecoinrepublic.com/wp-content/uploads/2024/06/image-53-300x191.png 300w" sizes="(max-width: 678px) 100vw, 678px">
 </figure>
</div> 
Source: DeFiLlama 
Additionally, the number of holder’s addresses increased in the last week. On 22 May, the total number of holder’s addresses stood at 32521. It increased to 34,903 on 5 June, according to Arbiscan’s data. 
The data underscore Pendle’s robust activity and ongoing appeal to users and developers in the crypto space. 
<h3 class="wp-block-heading" id="strong-is-pendle-ready-to-smash-the-10-mark-strong">Is Pendle Ready to Smash the $10 Mark?</h3> 
On the daily technical chart, Pendle showed incredible growth. In January 2024, it traded at the value of $1.25. From there, it surged to the $7.45 level in 5 months, showcasing exponential growth of 492% in price. 
However, the token price has recently been rejected from the level of $7.5435 and is facing mild weakness. If the price surpasses the $7.50 hurdle, it could reach $10.00 in upcoming sessions. 
When writing, the Pendle price was trading at the $6.14683 level with a minor intraday growth of 0.56%. Its market cap stands at 945.81 Million, with a 24-hour trading volume of 69.37 Million. Moreover, it has a fully diluted market cap of 1.58 Billion. 
The Pendle token has performed outstandingly throughout the year. Year to date, it grew by almost 416.12%, while in the last 6 months, it grew by 374.78%. Additionally, the token growth in the previous 3 months was 97%. Besides, it grew by 21.40% last month, showcasing prolonged bullishness. 
<h3 class="wp-block-heading" id="strong-decoding-the-pendle-indicators-on-the-technical-chart-strong">Decoding the Pendle Indicators on the Technical Chart</h3> 
According to the technical summary featured on the TradingView platform, out of 25 indicators, 3 are on the sell side, 9 are on the neutral side, and 13 are on the buying side. Overall, the weightage is on the buying side, pointing to bullishness. 
At press time, the Pendle price traded above the key moving averages of 50-Day and 200-Day, suggesting bullishness on the daily technical chart. 
The RSI curve also traded in a positive zone above the middle line. However, despite trading in the positive zone, it hovered below the 14-SMA line, signaling neutrality in current sessions. 
<h3 class="wp-block-heading" id="strong-conclusion-strong">Conclusion</h3> 
Pendle demonstrated robust growth in the last five months. Its TVL and growth in the number of holders’ addresses define the users’ confidence in the protocol. Moreover, the token price also showed bullishness on the technical chart, and indicators supported bullishness. 
<h4 class="wp-block-heading">Disclaimer</h4> 
The analysis given above is for informational and educational purposes only. You should not take it as financial, investment, or other advice. Investing in or trading crypto assets is risky. Please consider your circumstances and risk profile before making any investment decisions.

Pendle Holders Addresses & TVL are Spiked; What’s Cooking in It?

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