- Pendle is the first protocol that allows the trading of tokenised future yield on an automated market maker (AMM).
- With the help of time decay, which is created due to the novel AMM, Pendle allows the users measured control over future yield.
- Pendle crypto is ranked 568 on CoinMarketCap, and its volume had received a significant uptick by 381.01%, with a 24-hour trading volume of US $12,127,306
Once after Pendle crypto posted a massive 110% rally on August 23, it has largely been sedating. In August itself, while the PENDLE did manage to go up to US $1.02, the crypto saw a price correction and largely hovered under US $1 mark. Having said that, it did manage to register steady gains on a day-to-day basis to keep the investors interested in the token.
But on October 14, Pendle crypto once again managed to break the US $1 mark and was trading at US $1.04, registering gains of 60.03% at the time of writing (BST 9:00 am), according to CoinMarketCap. The bullish run would be music to the ears of the investors who have had hopes from the Pendle crypto, largely due to its potential to consolidate further.
How high can Pendle crypto go following its latest rally?
Pendle is the first protocol that allows the trading of tokenised future yield on an automated market maker (AMM). With the help of time decay, which is created due to the novel AMM, Pendle allows the users measured control over future yield.
Launched in 2018, the Pendle crypto operates on the Ethereum blockchain and aims to support numerous protocols and assets. With holistic and effortless management of the yields on a single platform, the users can maximise their facilities and potential.
How does Pendle crypto work?
Holders of yield generating assets can deposit their yield into the Pendle crypto. It helps the users to mint it as an ownership token, thereby earning yields. The users can utilise their yield tokens in two ways. Firstly, once the user submits the yield generating assets into Pendle’s AMM, it automatically generates the liquidity of the crypto. In return, the liquidity providers get their incentives and fees.
Secondly, they can also sell their yield tokens for cash up front, which allows them to lock and fix the interest rates, securing the returns immediately. The traders can buy these yield tokens directly without the need to lock their underlying assets, thus giving them an opportunity to gain exposure to future yields.
How is Pendle crypto fairing in the market?
Pendle crypto is ranked 568 on CoinMarketCap, and its volume had received a significant uptick of 381.01% with a 24-hour trading volume of US $12,127,306. At the time of writing (BST 9:00 am), Pendle was up by 60.03% in the last 24 hours with a live market cap of US $48,961,458.
Market experts are bullish on Pendle’s price and are predicting a +350% expected profit with the possibility of achieving its all-time high once again soon, Provided the bull run last, it could well reach its all-time high mark of US $4.39 by the end of the year. The market experts are predicting that the bull run will continue even in the next year as well.