Yield-bearing methods on Pendle trading volume reach $10 billion. Restaking protocols are fueling the TVL rise on Pendle. Pendle price may take off following growth in on-chain metrics. Pendle Finance's total value locked skyrocketed to $3.97 billion on Thursday following significant increases in the protocol's fees and trading volume, according to data from DeFiLlama. The significant increase follows an influx of tokens from restaking protocols leveraging Pendle to improve their yields.
At the time of writing, Pendle's average yield sits at around 59.6% in the past 24 hours. Read more:Ethena's ENA airdrop successful as USDe token sparks debate in crypto community Restaking protocols catalyzing growth for Ethereum Pendle's growth follows Ethereum's restaking boom, as most of the tokens on its platform come from restaked Ethereum in protocols like EtherFi and Renzo.
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Source: Cointelegraph - 🏆 562. / 51 Read more »