Why I think $PENDLE @ $10 is a matter of time:
- TVL @ 10.6b, the #6 largest DeFi protocol by TVL yet ranked #30 by DeFi Mcap
- Annualised fees @ 72m (10x PF ratio on circ basis) in line with $ENA and $HYPE. However, $PENDLE has the lowest Mcap and the greatest growth story relative to its current size. If Boros captures the funding rate arb market through continued integration, it can easily double existing fees.
- @ethena_labs has been core to PENDLE's success and is going on to hyperliquid soon (USDe pairs, etc etc). PENDLE also looks to be ramping up Hype integrations. Ethena starts with an E: if you combine this with the founder @tn_pendle name... you actually get TEN.
$PENDLE will soon be called $TENDLE.
Pic related.
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