Sonic

<p>The PENDLE price is up 12.5% today in what’s otherwise a pretty boring crypto market. This means the coin is now trading above $4.7.</p>
<p>This level represents a significant resistance point for PENDLE, having faced rejection twice before – once in July and again in September. The current price also marks PENDLE’s highest position since June.</p>
<p>Prominent crypto analyst Defi_Mochi, who commands a following of nearly 100,000 on X (formerly Twitter), shared insights on why PENDLE could reach $20 in Q4 – a potential 4x increase from current levels.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Why <a href="https://twitter.com/search?q=%24PENDLE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$PENDLE</a> is heading for $20 this Q4<br><br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"><br>1/5 <a href="https://t.co/UedsnCbosU" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/UedsnCbosU</a></p>— Defi_Mochi (@defi_mochi) <a href="https://twitter.com/defi_mochi/status/1846912076515815766?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 17, 2024</a>
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<h2 class="wp-block-heading" id="growing-ecosystem-and-market-position">Growing Ecosystem and Market Position</h2>
<p>PENDLE has established itself as a crucial liquidity provider across various crypto ecosystems. The platform has helped secure over $500 million in <a href="https://www.investopedia.com/total-value-locked-7486821" target="_blank" rel="noopener noreferrer nofollow">TVL (Total Value Locked) </a>in the BTCfi ecosystem and facilitated more than $944 million in USDe through Ethena Labs alone. Its total TVL has reached an impressive $2.49 billion, enabling yield farming and fixed-yield opportunities.</p>
<p>With global liquidity on the rise and renewed interest in crypto markets, yield trading platforms are expected to gain momentum. PENDLE stands as the leading yield trading platform across crypto, having processed over $30 billion in cumulative yield trading volume.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="535" src="https://captainaltcoin.com/wp-content/uploads/2024/10/image-702-1024x535.png" alt="" class="wp-image-568970" srcset="https://captainaltcoin.com/wp-content/uploads/2024/10/image-702-1024x535.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-702-300x157.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-702-768x401.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-702-1536x802.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-702-2048x1070.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-702-287x150.png 287w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-702-100x52.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-702-670x350.png 670w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-702-788x411.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-702.png 854w" sizes="(max-width: 1024px) 100vw, 1024px">
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  Source: X/@defi_mochi
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<p>The upcoming Pendle V3 release is positioned to drive substantial growth in trading volume. Key features include yield trading markets across multiple chains and leveraged yield trading capabilities. The platform’s strategic partnerships are expected to further expand its TVL.</p>
<p>The analyst’s $20 price target factors in several metrics, including a Price to TVL ratio of 0.28 and a total staked to market cap percentage of 33%. The platform currently processes around $60 million in 24-hour trading volume. PENDLE’s presence on major exchanges like Upbit, Binance, and Bybit, along with partnerships with protocols like Sonic Labs, positions it to tap into significant liquidity pools.</p>
<p><em><strong>Read also: <a href="https://captainaltcoin.com/expert-predicts-uptrend-for-kadena-kda-and-dogecoin-doge-after-successful-retest-key-levels-revealed/" target="_blank" rel="noopener noreferrer nofollow">Expert Predicts Uptrend for Kadena (KDA) and Dogecoin (DOGE) After Successful Retest: Key Levels Revealed</a></strong></em></p>
<p><em><strong>Follow us on <a href="https://x.com/CaptainAltcoin_" target="_blank" rel="noopener noreferrer nofollow">X (Twitter)</a>, <a href="https://coinmarketcap.com/community/profile/CaptainAltcoin/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap </a>and <a href="https://www.binance.com/en/square/profile/captainaltcoin" target="_blank" rel="noopener noreferrer nofollow">Binance Square</a> for more daily crypto updates.<br>Get all our future calls by joining our <a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram group.</a></strong></em></p>
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<p>The post <a href="https://captainaltcoin.com/pendle-price-surges-analyst-projects-20-target-for-q4/" rel="noopener noreferrer nofollow">PENDLE Price Surges, Analyst Projects $20 Target for Q4</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

PENDLE Price Surges, Analyst Projects $20 Target for Q4

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