Latest Pendle (PENDLE) News Update

TLDR
Pendle rides DeFi’s yield wave with fresh TVL highs and institutional interest. Here are the latest updates:

1. TVL Reaches $9.3B (19 August 2025) – Pendle’s Total Value Locked rebounds post-maturity, signaling strong capital inflows.
2. USDe Integration Fuels Growth (19 August 2025) – Ethena’s stablecoin drives $6.6B exposure on Aave via Pendle yield loops.
3. HyperEVM Expansion (18 August 2025) – Pendle becomes #3 protocol on HyperEVM with $515M TVL in under three weeks.

Deep Dive

1. TVL Reaches $9.3B (19 August 2025)

Overview:
Pendle’s TVL surged to $9.32B despite $1.5B and $898M outflows from recent maturity events, demonstrating rapid capital reallocation. The protocol now holds 50% of DeFiLlama’s “Yield” category, with $34.9B cumulative trading volume.

What this means:
This resilience highlights Pendle’s sticky demand for yield strategies. Institutions are increasingly using Pendle’s Principal Tokens (PTs) as collateral, with $2.5B locked in Morpho. However, recurring maturity outflows could pressure short-term liquidity if adoption slows.
(NullTX)

2. USDe Integration Fuels Growth (19 August 2025)

Overview:
Over $3.4B of Ethena’s USDe is locked in Pendle’s September 2025 maturity pool, amplified by ENA points campaigns offering ~14% APY. Aave now holds $4B+ in Pendle-linked PTs, creating a reflexive loop where higher ENA prices boost yields.

What this means:
This synergy drives Pendle’s utility but concentrates risk. Chaos Labs warns that a USDe yield drop could trigger deleveraging cascades across Aave and Pendle. Monitoring ENA’s price stability (~$0.67 as of August) is critical.
(Blockworks)

3. HyperEVM Expansion (18 August 2025)

Overview:
Pendle’s HyperEVM deployment hit $515M TVL in 2.5 weeks, trailing only native Hyperliquid protocols. Partner KinetiQ added $410M TVL, with Pendle contributing 35% of its liquidity.

What this means:
Multi-chain growth diversifies Pendle’s revenue streams. The protocol’s Boros feature—tokenizing perpetual futures yields—has seen $35M daily open interest, targeting the $150B+ derivatives market.
(NullTX)

Conclusion

Pendle solidifies its role as DeFi’s fixed-income backbone, but its reliance on leveraged yield loops introduces systemic risks. With PENDLE up 70% in 60 days ($5.70), can protocol upgrades like Boros offset potential deleveraging shocks from overcollateralized Aave positions?

Deep Dive

1. @johnmorganFL: Pendle’s TVL-driven rally bullish

“Pendle Accelerates 30% as $7.7B TVL Growth Supports Price Action”
– @johnmorganFL (82k followers · 1.2M impressions · 8 Aug 2025 04:40 PM UTC)
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What this means: Bullish for PENDLE as its Total Value Locked (TVL) dominance in yield markets validates protocol utility, with Ethena’s USDe stablecoin comprising 60% of TVL.

2. @cryptonewsland: Strategic wallet move neutral

“Pendle Finance wallet transferred 900K PENDLE ($4.65M) to Binance post-surge”
– @cryptonewsland (156k followers · 480k impressions · 8 Aug 2025 09:50 AM UTC)
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What this means: Neutral – while the wallet retains $135M in PENDLE, the transfer could indicate liquidity management rather than sell pressure.

3. Bitrue: $11.32 price target bullish

“Forecasts suggest Pendle could reach $11.32 by August-end (+117%)”
– Bitrue (Verified · 8 Aug 2025 12:34 PM UTC)
View analysis
What this means: Bullish technical outlook, though contingent on DeFi sentiment and Pendle’s ability to maintain 8-11% PT yields amid 4-6% borrowing costs.

4. @MichaelEWPro: $29 Fibonacci target bullish

“Elliott Wave projections highlight $10.21 and $29.25 technical targets”
– @MichaelEWPro (Chart analysis · 9 June 2025 06:30 PM UTC)
View analysis
What this means: Bullish for traders eyeing breakout patterns, though RSI at 71.92 (1D) suggests overheated conditions.

Conclusion

The consensus on PENDLE is bullish, driven by TVL growth and yield innovation, but tempered by resistance at $5.25 and whale activity. Watch the $5.20–$5.50 zone this week – a decisive close above could validate the $6–$7 narrative.

Deep Dive

1. Multicall Bug Fix (20 August 2025)

Overview: Resolved a critical issue in the multicallOwnerV1 function that could disrupt batch transactions.

The fix ensures reliable execution of bundled operations like liquidity provisioning and yield token swaps. Developers prioritized backward compatibility, requiring no user-side changes.

What this means: This is bullish for Pendle because it strengthens transaction reliability, reducing risks for advanced DeFi strategies. (Source)

2. Version 5.11.0 Release (20 August 2025)

Overview: Rolled out dynamic incentive caps tied to pool performance, reducing emissions waste.

Swap fees dropped from 2% to 1.3%, while yield fees rose from 5% to 7%. The update targets underperforming pools consuming 50% of emissions.

What this means: This is neutral for Pendle – lower fees may attract liquidity, but stricter incentives could temporarily slow growth in newer pools. (Source)

3. BERA Chain Deployment (15 August 2025)

Overview: Launched Pendle markets on BeraChain via HyperEVM, enabling cross-chain yield strategies.

The deployment included bridge support through Stargate Finance, facilitating asset transfers between Ethereum, BeraChain, and Hyperliquid.

What this means: This is bullish for Pendle because it taps into BeraChain’s growing DeFi ecosystem, expanding user access. (Source)

Conclusion

Pendle’s codebase updates emphasize reliability (bug fixes), efficiency (fee restructuring), and multi-chain accessibility. While near-term liquidity shifts are possible, the protocol is positioning itself as a cross-chain yield infrastructure leader.

How will Pendle balance emissions efficiency with incentivizing new market growth in Q4 2025?

Deep Dive

1. Boros Expansion (Q3 2025)

Overview:
Boros, Pendle’s derivatives-focused vertical, will expand beyond its current focus on perpetual futures funding rates (a $150B+/day market) to include staking rewards, tokenized Treasuries, and mortgage rates. This upgrade aims to let users hedge/speculate on diverse yield streams, starting with platforms like Ethena to stabilize funding-rate exposure (NullTX).

What this means:
Bullish for PENDLE as it taps into larger yield markets, but execution risks persist given competition in derivatives infrastructure.

2. Citadels on Non-EVM Chains (Q3 2025)

Overview:
Pendle will deploy its fixed-yield infrastructure on Solana, TON, and Hyperliquid EVM to capture booming ecosystems. Early tests on Hyperliquid saw $515M TVL in 2.5 weeks, ranking it as the chain’s #3 protocol (Pendle Team).

What this means:
Neutral-to-bullish—expansion could boost adoption, but cross-chain liquidity fragmentation remains a challenge.

3. Institutional Citadels (2025)

Overview:
Pendle is developing KYC/Sharia-compliant yield products for TradFi institutions, partnering with entities like Ethena to create isolated SPVs. This targets the $558T global interest-rate derivatives market (Redstone DeFi).

What this means:
Bullish long-term for institutional inflows, but regulatory hurdles could delay traction.

4. vePENDLE Improvements (2025)

Overview:
Planned upgrades include dynamic fee rebalancing and expanded voting mechanisms to attract smaller holders. Currently, 37% of PENDLE supply is locked as vePENDLE, earning ~40% APY from protocol fees (Pendle Team).

What this means:
Bullish if successful in decentralizing governance, but high locked supply risks sell pressure post-unlocks.

Conclusion

Pendle’s 2025 roadmap balances DeFi innovation (Boros) with strategic expansion (Citadels) and governance maturity. Key risks include execution in untested markets and regulatory compliance for institutional products. With TVL nearing $10B and multi-chain traction, can Pendle sustain its 45% YoY growth into 2026?