.@pendle_fi TVL has soared to a new ATH of $8.42B, up 25% from its previous $6.72B record.
This isn’t your typical 'price pump → TVL up' phenomenon; it's fundamentally driven by solid stablecoin inflows.
If you look closely:
🔸71.9% TVL ($6.08B) sits in the largest stablecoins
🔸Among the top 3 pools, it's @ethena_labs's $USDe which drives $6.01B here (~60% of USDe supply)
That's huge as it reflects the exceptional significance Pendle plays in one of the fastest-growing DeFi segments: Yield-bearing Stablecoins (YBS)
The value proposition of 'tokenizing yields' doesn't stop here.
The open composability it offers is equally insane: ~$3.74B worth of PTs are collateralized on @aave which makes ~6.62% of Aave’s market size
And this is cap limited by the way.
Demand is so strong that caps fill almost instantly & it's only a matter of time once risk assessment expands them, expect another leg up.
Not gonna lie, it doesn't get more promising than this.
Pendle
h/t @DefiLlama @sentioxyz for the data insights
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