Pendle (PENDLE) — Onchain News & Whale Tracking

Spartan Group deposits PENDLE, SYRUP, and ETHFI worth approximately $3.92 million into Coinbase.

According to Yu Jing Monitoring, crypto investment firm The Spartan Group has transferred three tokens worth approximately $3.92 million to Coinbase Prime, including 2,045,000 PENDLE (valued at $2.74 million), 5,377,000 SYRUP ($860,000), and 813,000 ETHFI ($320,000). All the tokens are from the vested unlocked allocations of its invested projects.

Pendle’s funding rate trading platform Boros surpasses the $20 billion notional trading volume milestone.

Pendle’s funding rate trading platform Boros has crossed the $20 billion nominal trading volume milestone in less than a year since its launch. Today, Boros has become the de facto venue for institutions and market participants to trade, hedge, and capture funding rate differentials across platforms, with over 170 markets of varying maturities to date.

Pendle Weekly: 5-Year Anniversary Recap and Monad Launch, Ecosystem Yield Farming, and Protocol Revenue Continues Expansion

June 22nd. Pendle shared its weekly recap, highlighting key developments around the protocol’s 5th anniversary, cross-chain expansion, yield product growth, and ongoing ecosystem collaborations: - Pendle marks its 5th anniversary, evolving from the early experimental V1 version to become the world’s largest yield trading platform. The team reflected on five years of growth and reaffirmed its commitment to expanding yield infrastructure capabilities moving forward. - Pendle has officially joined the Monad ecosystem, debuting its first two AUSD yield pools—Agora AUSD and Upshift earnAUSD—with up to $100,000 in weekly incentives, extending its footprint into new cross-chain liquidity markets. - Pendle Intern released 10 bullish catalysts for the protocol, including growing institutional adoption (such as inclusion in multiple institutional watchlists), ongoing Real-World Asset (RWA) growth, Monad ecosystem expansion, the projected impact of the CLARITY Act on DeFi adoption, strengthened b

Pendle Makes the Fortune Magazine Cryptocurrency Innovators List

**June 16 Update**: DeFi protocol Pendle has landed on *Fortune*’s Cryptocurrency Innovators List, claiming a top 30 spot out of over 150 submissions—joining traditional finance heavyweights like J.P. Morgan, DBS Bank, and SBI Holdings in the ranking. Pendle fills a longstanding gap in crypto’s on-chain fixed income ecosystem: while variable on-chain yields are widespread, tools to lock in a fixed interest rate or place directional bets on asset duration have been largely missing. Today, Pendle’s protocol holds over $1 billion in total value locked (TVL), with a growing share of that coming from stablecoin yield markets and institutional structured funds. Since launching its sPENDLE token, the Pendle team has redeemed 1,722,192 PENDLE tokens from the open market, distributing every single one to sPENDLE holders. Year-to-date, sPENDLE holders have received roughly $1.4 million in airdrop rewards from the protocol. The team noted “the work is not yet done,” with additional progress alr

Revolut has officially launched Pendle

June 9 — An official announcement from Pendle, Europe’s largest fintech firm, reveals Revolut has officially launched Pendle. Right now, about 20 million crypto users in the UK, EU, Norway, Iceland, and Liechtenstein can access Pendle directly through their regular banking app to trade on regulated services without needing a DeFi front end.

Pendle to Incentivize Full Shift to Limit Orders, Citing 71% Contribution to Trading Volume

May 26: DeFi yield protocol Pendle Finance announced it’s shifting its co-incentive focus entirely to its Limit Order (LO) mechanism, aiming to boost the platform’s liquidity depth and improve trade execution efficiency. Since the full LO incentive system launched roughly two months ago, limit orders now make up 71% of Pendle’s total Swap transaction volume—up from 44% prior to the rollout. Monthly LO trading volume has nearly doubled, cementing limit orders as a core driver of the protocol’s overall trading activity, per Pendle’s latest update. Right now, Pendle allocates approximately 6,500 PENDLE tokens weekly to limit order incentives, which supports around $400 million in notional order book depth. On an annualized basis, every $1 of incentives translates to $800 in liquidity, resulting in an 800x capital efficiency rate, the protocol noted. Pendle also unveiled new co-incentive rules: If a project contributes incentives in PENDLE, every $1 of their input earns an extra $0.22 w

Pendle Launches apxUSD on BNB Chain, Offering a 13% Fixed Interest Rate for STRC

On May 26, DeFi yield protocol Pendle Finance announced that synthetic dollar asset apxUSD (maturing November 2026) from Apyx Finance has officially been integrated into BNB Chain. Users can now access a fixed-income strategy built on STRC via Pendle, with the current fixed APY hitting 13%. Issued by Apyx and collateralized by preferred equity from Digital Asset Treasuries (DATs), apxUSD currently comprises Strive’s SATA and Strategy’s STRC. While apxUSD itself doesn’t generate yield, it can be split into principal tokens (PT) and yield tokens (YT) on Pendle. Pendle notes that YT holders gain access to higher-leverage exposure to Apyx, while PT delivers a fixed return above STRC’s dividend yield. Liquidity providers (LPs), meanwhile, earn both protocol revenue and points-based incentives simultaneously.

STRC and USDG Yield Markets Drive On-Chain Growth, Pendle RWA TVL Ratio Rises to 97%

May 19th, per official Pendle protocol data, the platform non-custodially holds 2,453,331 STRC via the STRC yield token market, making it a core on-chain hub for digital credit yield discovery and liquidity. Pendle’s USDG liquidity pool—backed by U.S. Treasury bonds as its underlying asset—ballooned to $230 million in total value locked (TVL) in just one weekend. The protocol’s $120 million PT-USDG allocation on Aave is already fully utilized. As U.S. Treasury and structured credit asset markets keep expanding, Pendle’s Real World Assets (RWA) total locked value has climbed to 97%, further reinforcing its top position in the on-chain yield trading space.

Pendle Emerges as RWA Yield Core: Inflows of Funds and Yield from Apollo, Paxos, Ethena, Strategy, and More

April 29 — DeFi researcher Stacy Muur (@stacy_muur) notes that as the stablecoin market cap tops $310 billion and real-world assets (RWAs) ramp up on-chain adoption, Pendle is emerging as core infrastructure for the on-chain fixed-income market. Per the report, a flood of RWA yields is flowing into Pendle—including returns from traditional finance assets like U.S. Treasuries, private credit, corporate bonds, and dividends from Nasdaq-listed firms. Through its PT/YT yield-splitting mechanism, Pendle converts floating yields into fixed-rate products, meeting institutional demand for predictable returns. Several top TradFi and DeFi projects have already integrated with Pendle: - An Apollo Global Management credit fund with over $840 billion in AUM has integrated via the Ember protocol; - Strategy’s STRC dividend income has been tokenized by Saturn and Apyx and listed on Pendle; - Paxos’ U.S. Treasury-backed stablecoin USDG hit over $120 million in TVL within two months; - Et

Pendle has distributed an additional $7.49 million CHIPS reward to sPENDLE holders

April 27 — Pendle has announced it will distribute $7.49 million worth of CHIPS to sPENDLE holders, with funds sourced from the protocol’s fee revenue. The allocation is calculated using time-weighted sPENDLE holdings between April 7 and April 20. This CHIPS distribution is separate from the existing buyback reward mechanism and represents an additional yield for holders. Going forward, Pendle will continue to enhance its token holder reward structure via multiple channels (including fees and buybacks) to boost the sustainability of the protocol’s incentive system.

Pendle's USDG Stablecoin Incentives Increase to $390,000

April 9 — Official sources confirm Global Dollar and Paxos are boosting the USDG stablecoin incentive on Pendle from an initial $150,000 to $390,000, with the enhanced rewards active until the market’s expiry date. Pendle will also continue offering up to 30% PENDLE rewards exclusively for this market. Prior to this update, Pendle’s USDG Total Value Locked (TVL) had already surpassed $10 million.

Pendle Co-founder Joins Forces with Traditional Financial Giants such as Morgan Stanley and BlackRock to Introduce Asset Tokenization to Vietnamese Deputy Prime Minister

March 30: Pendle co-founder @tn_pendle met with Vietnam’s Vice Premier last week in New York alongside representatives from Deutsche Bank, Morgan Stanley, BlackRock, Franklin Templeton and Anchorage Digital to lobby for the establishment of Vietnam’s International Financial Center. During the meeting, the Pendle co-founder discussed Vietnam’s potential as a hub for tokenized bonds, ETFs and private credit markets, and enthusiastically highlighted the country’s deep talent pool.

Arthur Hayes sells approximately $1 million worth of ENA and PENDLE, buys 96,116 HYPE over the past 2 days

Onchain Lens monitoring shows that 3 hours ago (Feb 5), Arthur Hayes transferred 3.63 million ENA (≈$486,950) and 332,226 PENDLE (≈$487,900) to Galaxy and Binance. Over the past 2 days, he has purchased 96,116 HYPE (≈$3.42M). He currently holds 161,271 HYPE total, with an approximate value of $5.78M.

A new wallet withdrew 1.2 million PENDLE from Binance, worth approximately 2.25 million US dollars

On January 27th, Onchain Lens monitoring data shows a newly created wallet withdrew 1.2 million PENDLE tokens (valued at $2.25 million) from Binance.

Pendle Team Associated Address Deposited 1.8 Million PENDLE into Bybit

Jan. 25: Per OnchainLens monitoring, a wallet linked to the Pendle team has deposited 1.8 million PENDLE (valued at $3.61 million) into Bybit, following a 3+ year hold. The wallet received the tokens from Pendle’s vesting wallet.

A certain Pendle investor's address has transferred 1.8 million tokens to a CEX, now worth around $3.83 million after holding for 3 years

On January 23, per EmberCN monitoring, a Pendle investor or team address transferred 1.8 million PENDLE (valued at roughly $3.83 million) to Bybit seven hours ago. These tokens were unlocked three years ago. This address originally received the 1.8 million PENDLE from Pendle’s token vesting contract unlocks spanning April 2022 to April 2023—when the tokens were worth just $266,000.

Arthur Hayes has once again increased his holdings of approximately 550,000 PENDLE tokens, worth around $973,000.

December 26 – Per Lookonchain monitoring, Arthur Hayes has just purchased 549,868 PENDLE tokens, valued at approximately $973,000. Additionally, 20 minutes ago, Hayes bought 1,855,000 LDO tokens worth roughly $1.03 million.

Arthur Hayes receives approximately 137,000 PENDLE tokens, worth around $260,000

On December 21, Nansen’s monitoring data shows Arthur Hayes received around 137,000 PENDLE tokens from Flowdesk roughly 15 minutes ago—valued at approximately $260,000. Yesterday, Hayes noted in a post: “We’re in the process of reallocating from ETH to high-quality DeFi tokens, and we believe these will outperform the market as fiat liquidity improves.”

Pendle Weekly Update: PT-sUSDC Set to Launch on Solana, Product Receives a Series of Key Upgrades

**Pendle Weekly Report (Dec 15): Key Project Updates** - **PT-sUSDe to Launch on Solana**: Pendle’s PT-sUSDe is set to go live on Solana. Using the Chainlink CCT standard, Solana users will gain access to this Ethereum flagship yield asset. - **Pendle PTs Now Live on Unichain**: Pendle’s PT tokens are now available on Unichain. The first batch of supported assets includes capped-issued CUSD (Ethereum Mainnet) and USDai (USD.AI, Arbitrum). This unlocks new on-chain yield infrastructure for Unichain. - **Pendle Info Bot Adds Wallet Tracking**: Users can add their wallets to the bot for reminders when voting events or active liquidity pools (LPs) near or reach maturity. Limit order execution notifications will be supported soon. - **Market Info Labels Upgraded**: Pendle has enhanced its market labels to include conversion rates, withdrawal mechanisms, YT score multipliers, and other key details. - **OKX BTC/ETH Funding Rates on Pendle Boros**: The OKX BTC and ETH funding rate m

Suspected Polychain Capital Transfers 411.4k PENDLE to FalconX, Holding Unrealized Loss of Approximately $3.99M

December 13 — On-chain data analyst Yu Jin noted that an address suspected to be linked to Polychain Capital transferred all 4.114 million PENDLE tokens to FalconX 8 hours ago. The firm had accumulated roughly $13 million worth of PENDLE at an average price of $3.16 between March and September. With PENDLE now trading at $2.19, the position faces an unrealized loss of approximately $3.99 million.

Pendle has released its 2025 Annual Review Summary, with an average TVL of $5.8 billion for the year, representing a 79% increase from the previous year.

December 5th, official sources confirm Pendle has released its 2025 Year in Review summary: - **Average Total Value Locked (TVL):** $5.8 billion in 2025, peaking at $13.4 billion (79% year-over-year increase) - **Total Trading Volume:** $47.8 billion (36.5% YoY rise) - **User Growth:** +155,553 users (48% jump from 2024) - **Investment Breakdown:** 85% stablecoins, 3% Bitcoin, 5% Ethereum, 7% other assets - **Fixed Income Facilitation:** $58 billion (161% YoY surge) In 2025, Pendle launched its new product Boros. Within four months, Boros hit $5.5 billion in trading volume and $80 million in open interest (0.04% of total market size). With the $200 billion investment market in focus, Boros has significant growth potential.

PENDLE has been included in the Bloomberg Galaxy DeFi Index, and its Boros protocol has received recognition from Arthur Hayes.

On December 1st, official sources confirm that PENDLE has been added to the Bloomberg Galaxy DeFi Index. Additionally, Arthur Hayes noted in his essay *Adapt or Die* that TradFi is fighting to keep its dominant spot in stock trading. Eventually, all stocks—even the entire stock market—will be tokenized, but the success of stock perpetual futures doesn’t depend on waiting for equity tokenization to happen. Daily trading volume for stock perpetual futures has already topped $100 million, and as traders and liquidity providers grow more familiar with contract specs, billions in daily volume are on the horizon. Stock perpetual futures will emerge as a key tool for institutions and retail investors to hedge weekend risk, which will push major U.S. exchanges to speed up their shift to 24/7 trading. A strong entrepreneurial opportunity lies in building a derivative that lets retail investors speculate on interest rates in an entirely new way—and the Pendle team is focused on this, with

Arthur Hayes continues to accumulate ENA, PENDLE, ETHFI

On November 27th, as monitored by Onchain Lens, Arthur Hayes increased his holdings of ENA, PENDLE, and ETHFI. In the past 30 minutes, he received the following from the liquidity provider Cumberland: ? 2.01 million ENA valued at $571,600; ? 218,000 PENDLE valued at $589,800; ? 33,099 ETHFI valued at $257,400.

Arthur Hayes Acquires 113,000 Pendle Tokens, Worth $277,980

On November 26th, as monitored by Onchain Lens, the address linked to Arthur Hayes purchased 113,000 Pendle tokens from the Wintermute platform, with a value of $277,980.

Arthur Hayes bought 105,000 PENDLE tokens 6 hours ago, deposited 3.04 million USDT yesterday from an institution, or planned to buy the dip.

On November 26th, as per the monitoring of Onchain Lens, Arthur Hayes received 105,000 PENDLE tokens, which were worth $260,000, from Flowdesk six hours ago. Yesterday, he deposited 3.04 million USDC into Kraken, Wintermute, Cumberland, and Flowdesk. This is most likely to be for purchasing crypto assets again. BlockBeats had previously reported that Arthur Hayes had sold a package of Ethereum ecosystem altcoins worth $7.4 million in mid-November.

Pendle 2025 Q3 Performance Report: TVL Surpasses 8.7 Billion, Trading Volume Up by 236%

On November 18th, the cryptocurrency yield aggregator Pendle jointly released the Q3 report for 2025 with Token Terminal: 1. The Total Value Locked (TVL) reached $8.75 billion, showing a 118.8% increase compared to the previous period. Stablecoins accounted for over 80% and served as a core support. 2. The nominal trading volume exceeded $233.9 billion, with a 236.1% increase compared to the previous period. It reached a monthly peak of $110 billion in September. 3. The protocol revenue was $9.14 million, and the fees were $9.53 million, representing a 54.1% and 58.0% increase respectively. The vePendle holders averaged an APR of 35%-40%. 4. The monthly active users increased to 29,200, spanning 8 blockchains. Ethereum and HyperEVM were the main user hubs. Pendle has now become the second-largest protocol on the Plasma chain, with a TVL of nearly $1 billion, accounting for 30% of the chain's total value locked. Leading protocols such as USDai and Ethena have utilized its liquidity, and

Pendle Launches New Pool, Boros Introduces Hyperliquid BTC Funding Rate Market New Expiry Date

On November 10th, as per official channels, the DeFi yield protocol Pendle has recently added 11 new asset yield pools. These include AID, sAID, syzUSD, yzUSD, tmvUSDTO, nBASIS, ynRWAx, ynUSDx, USD (Midas mRe7BTC), USD (Midas mRe7yield), and nWBTC. Meanwhile, Pendle's funding rate trading platform Boros has recently launched a new expiry date (November 28th) for the Hyperliquid platform's BTCUSD funding rate market, which supports both BTC and USDT pairs. Boros aims to offer investors a new means to directly trade or hedge against funding rate fluctuations.

Pendle Achieves All-Time High Monthly Revenue in October and September Transaction Volume, Surpasses $1 Billion TVL on Plasma

On November 3rd, based on official data, the Pendle Protocol achieved a record-breaking monthly revenue in October, amounting to $4.5 million. The transaction volume in September also reached a new high of $11 billion. Moreover, the TVL of Plasma on Pendle has now exceeded $1 billion and ranks third among all public chains integrated with Pendle.

21Shares has launched the Pendle ETP (APEN) on the Swiss Stock Exchange.

On October 24th, 21Shares has listed the Pendle Exchange Traded Product (ETP, with the ticker APEN) on the SIX Swiss Exchange, thus providing a compliant avenue for European investors to invest in $PENDLE.
This action is not only a crucial milestone for Pendle in achieving institutional recognition but also indicates the accelerated integration of top decentralized finance (DeFi) assets into traditional finance (TradFi) infrastructure.

Pendle claimed a 2.32 million FF airdrop, equivalent to approximately $294,000.

On October 10th, based on LookOnChain's monitoring, Pendle has just received 2.32 million FF tokens (valued at approximately $294,000) from the Falcon Finance Season 1 airdrop.

Pendle has just claimed 2.32M $FF($294K) from Falcon Finance's Airdrop Miles Season 1.

Pendle has just claimed 2.32M $FF($294K) from Falcon Finance(@FalconStable)'s Airdrop Miles Season 1.

Pendle Finance is launching a two-week exclusive reward event called the "Plasma Parade."

On October 10th, Pendle Finance announced the launch of a two-week exclusive reward event named "Plasma Parade". It offers up to 600,000 XPL in limit order token rewards for Pendle users. Additionally, an extra 1.14 million XPL incentive is provided for holders of different Pendle Yield Tokens (YT) and Liquidity Positions (LP) on the Plasma launch markets, along with a special YT reward worth 60,000 XPL. The event began in early October 2025. Pendle's rapid growth on the Plasma chain has been driven by exclusive incentives and the addition of new assets, demonstrating Pendle's popularity and utility in the DeFi ecosystem. This event aims to boost liquidity and attract traders through layered rewards, with the potential to increase Pendle's Total Value Locked (TVL) from millions to trillions of dollars. By coordinating a coherent incentive mechanism, it seeks to shape Plasma's yield ecosystem.

Pendle Surpasses $440 Million TVL on Plasma, New Asset Type to be Launched This Week

On October 9th, Pendle's TVL on Plasma witnessed a significant surge to $4.46 billion. This week, it is set to launch new assets, namely PlasmaUSD, aUSDT0 (from Aave), and fUSDT0 (from Fluid). PlasmaUSD (with a maturity date of January 29, 2026) is the flagship vault managed by Veda on Plasma. The deposited funds will be allocated to top-tier lending protocols like Aave to generate yields. Aave aUSDT0 (with a maturity date of February 26, 2026) enables USDT0 on Aave, allowing for the earning and trading of lending annual percentage yield (APY). 0xfluid fUSDT0 (with a maturity date of February 26, 2026) facilitates speculative and trading activities on the APY of the USDT0 vault on Fluid, including the lending yield and XPL rewards earned on Fluid.

Pendle Surpasses $100M TVL on Plasma, Boros Introduces New Feature

On October 3rd, Pendle made an announcement that the TVL on Plasma has exceeded $100 million, and it only took half a day to reach this milestone. Moreover, Pendle's fund rate trading platform, Boros, has launched a new function that enables positions to be established using USDT to trade fund rates on Hyperliquid (BTC and ETH pairs, with a maturity date of October 31st). With this feature, it will be effortless to conduct trading during key events such as Federal Reserve announcements, CPI/PPI data releases, or taking advantage of market inefficiencies. It will also be easier to conduct hedging trades on BTC and ETH fund rates based on market-driven factors.

PENDLE experienced a brief 10% decline, but has since rebounded to $4.5.

On October 1st, according to HTX market data, PENDLE witnessed a short-term decline of nearly 10% to $4.137. The project team declared that the protocol was not under attack, and the token price rebounded to $4.5.

Pendle Protocol Suspected Victim of Attack, Hacker Drains Over $1 Million

On October 1st, according to market reports, the Pendle protocol was suspected to have come under attack. Hackers managed to drain more than $1 million. As of now, the project team has not provided a response. BlockBeats alerts users to pay close attention to the protection of personal assets and take proactive measures to manage their positions.

Pendle Response: Protocol Not Hacked, All Funds Safe

On October 1st, Pendle's team declared that the protocol had not been under attack and all funds were in a safe state. Nevertheless, a particular on-chain wallet was drained, and the attacker is currently minting PT/YT and disposing of them.

Pendle's fund rate trading platform Boros has officially released version 1.0 and launched a referral program.

September 23rd. Pendle's fund rate trading platform, Boros, officially launched version 1.0 and initiated a referral program. During the soft launch period, Boros showed strong early adoption momentum, with an open interest of $60 million, a total notional trading volume of $9.5 billion, and an annualized revenue of $730,000. After the launch of Boros, no new tokens will be issued, and all resources will return to PENDLE. In the Boros referral program, referrers receive 20% of the settlement fees and trading fees generated by the referred users, while referred users enjoy a 10% discount on trading fees. Additionally, Boros has newly launched two markets expiring on October 31st: BTC-USDT Binance and ETH-USDT Binance.

A whale extracted 1 million PENDLE tokens and engaged in a six-month staking lockup.

September 20th. According to Amberdata, an address withdrew 1 million PENDLE (equivalent to $5.05 million) from Binance 10 minutes ago. Subsequently, it was deposited onto the blockchain and then staked in Pendle for a six-month locking-up period.

Pendle Multisig Deposits 1.2M PENDLE to CEX, Valued at $6.44M

September 19th. Based on EmberCN's monitoring, 20 minutes ago, Pendle's multisig wallet (0x811...6ee1) transferred 1.2 million PENDLE to Binance once again. The value of this transfer is $6.44 million.

OKX Launches Perpetual Swaps for ENA and PENDLE

September 17th. According to an official announcement, OKX has launched ENA and PENDLE perpetual contracts. The ENAUSDT contract trading will commence on September 17th at 3:30 PM (UTC+8). The PENDLEUSDT contract trading will commence on September 17th at 4:00 PM (UTC+8).

Pendle Introduces Cross-Chain PT, the First PT-USDe Deployed on the Avalanche Network

September 16th, Pendle made an announcement regarding the commencement of cross-chain PT. It is the first PT-USDe (November 2025) that has been deployed on Avalanche. PT, serving as a source of fixed income, has emerged as an essential component within DeFi. It has supported over $5.8 billion worth of PT as collateral on Ethereum through major lending markets such as Aave, Morpho, and Euler. In the forthcoming period, Pendle intends to utilize PT across different blockchains and even extend its reach to off-chain yield in order to further expand its fixed income landscape.

The Hyperliquid market has now onboarded Pendle's new product, Boros, allowing users to arbitrage or hedge around the HL platform's funding rate.

September 12th. According to official information, the Hyperliquid market has now come to Pendle's new Boros platform. On this platform, users are able to trade or hedge the Hyperliquid BTCUSD and ETHUSD funding rates. As the little bee keeps monitoring the risk parameters of the new market, the leverage ratio and limits will gradually rise. The official statement shows that the participation of large hedge funds on the Hyperliquid platform is relatively low. This indicates that its funding rate volatility is typically higher than that of Binance. These new markets will enable traders to speculate on these amplified rate fluctuations and even carry out cross-exchange funding rate arbitrage. For instance, the ETH funding rate on HL is usually higher than on Binance, but occasionally trades at a discount during periods of low funding rates. Now, through Boros, traders can trade this volatility and hedge the funding rate risk of long-term positions by using these YU markets.

Pendle TVL Surpasses $12 Billion, Setting a New All-Time High

On September 10th, TN Lee, a co-founder of Pendle, posted that the TVL of Pendle has exceeded $12 billion, reaching a new all-time high. Just 5 days prior to this, the TVL of Pendle exceeded $11 billion. With the increasing institutional adoption and the upcoming traditional finance liquidity mining, the potential for fixed income remains huge. Immediately after its launch, the PT-USDe (November 27, 2025) of Pendle used as collateral was fully utilized on Aave. TN Lee stated that Pendle, which has evolved from a niche experiment to a cornerstone of DeFi, owes its rapid and robust growth primarily to the community. The $12 billion TVL is not the end of growth; Pendle is confident in achieving even greater heights.

A whale sold PEPE and PENDLE to leverage up on ENA, with an average price of $0.735.

On September 10th, as per the monitoring of Onchain Lens, a whale recently acquired 90.8 million ENA by selling PEPE and PENDLE at a price of $0.735. The total value of this purchase was $6.68 million. Currently, the whale holds 21.82 million ENA, which is worth $17.53 million.

A whale address is currently selling its PEPE and PENDLE positions to swap into AAVE and ENA for repositioning purposes.

On September 4th, as per the monitoring of LookOnChain, the Smart Money address 0x3737 is currently in the process of swapping his positions of PEPE and PENDLE for ENA and AAVE. During the past 16 hours, he has sold 3,887.2 billion PEPE tokens (approximately $3.84 million) and 75,413 PENDLE tokens (approximately $355,000), and then purchased 4,831 AAVE tokens (approximately $1.58 million) and 3.09 million ENA tokens (approximately $2.25 million).

A whale/institution has once again withdrawn 483,000 PENDLE from Binance, accumulating a total of 4,071,000 PENDLE.

On September 3rd, as monitored by on-chain analyst Yu Jin, the whale/institution that has been continuously withdrawing from Binance and amassing PENDLE since the end of March continued to withdraw 483,000 PENDLE ($2.2 million) from Binance in the past hour. They began to accumulate starting from the end of March when the PENDLE price was $2.7. Through 6 addresses, they have accumulated a total of 4.071 million PENDLE (18.56 million US dollars), with an average price of $3.16. Currently, they have an unrealized profit of $5.7 million (+44%).

Trend Research transferred 1,000,000 PENDLE to Binance 10 minutes ago

On August 31st, as monitored by on-chain analyst Yu Jin, Trend Research, a secondary investment institution under LD Capital, transferred 1 million PENDLE tokens (valued at $4.78 million) that were purchased a week ago to Binance 10 minutes ago. It is possible that they are planning to sell off the Ethereum ecosystem tokens they had accumulated earlier. Previously, reports showed that Trend Research transferred 203,105 ENS tokens (worth $4.72 million) to Binance 5 minutes ago. These tokens were withdrawn from Binance on July 23rd at a price of $28.82. If sold, it would lead to a loss of $1.133 million.

Trend Research withdrew 1,000,000 PENDLE tokens from Binance 15 minutes ago.

On August 23rd, as per the monitoring of Onchain Lens, Trend Research, a secondary investment institution affiliated with LD Capital, withdrew 1 million PENDLE from Binance 15 minutes ago. The value of this withdrawal is approximately $5.83 million.

Pendle TVL Surpasses $10 Billion, Achieves New All-Time High

On August 23rd, TN Lee, a co-founder of Pendle, announced that the TVL of Pendle has exceeded 10 billion USD, reaching a new record high. TN Lee pointed out that Pendle's rapid and strong growth from a niche experiment to a cornerstone of DeFi is mainly attributed to the community. The 10 billion USD TVL is not the end of the growth, and Pendle is confident in achieving even greater success.