Earlier today, an address identified as belonging to the Pendle team made a significant transfer of 625,000 $PENDLE tokens, valued at around $3.37 million, to Binance.
According to Pendle’s unlocking rules, these tokens were accumulated during the April 2022 to April 2023 vesting period, confirming the address as a team-associated wallet.
Pendle, a DeFi platform focused on unlocking yield opportunities, has been making waves across the crypto landscape with impressive growth metrics and milestones.
Recently, the platform reached a total value locked (TVL) milestone of $3 billion, with $145 million added in the past day alone. This growth reflects increasing investor interest and the platform’s expansion.
Pendle Daily Yield TV Hits 4x Increase
In addition to a strong TVL, Pendle’s daily yield trading volume has experienced a notable 4x increase since reaching a low point in early November, signaling a resurgence in trading activity. Cumulative yield trading volume is now approaching the $30 billion mark, underscoring Pendle’s significant role in the DeFi yield trading space.
Looking ahead, the launch of Pendle V3 aims to extend its yield markets across the entire crypto sector, promising to bring more liquidity and opportunities to users. The project has also secured over $786 million in BTCfi TVL by partnering with six major BTCfi projects in the ecosystem.
Meanwhile, the newly-emerging DeFi project $ENA from Ethena Labs has seen its own TVL surge to over $1.2 billion, making it one of the fastest-growing projects in the space and signaling strong momentum for innovations in DeFi yield platforms.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!
Image Source: kinomasterskaya/123RF // Image Effects by Colorcinch
