Pendle DeFi Hits $4B TVL, $10B Trading Volume, Whales Accumulating

Pendle, a decentralized finance (DeFi) platform, has seen a significant increase in both its total value locked (TVL) and trading volume, surpassing $4 billion in TVL and achieving a single-day trading volume of over $400 million on April 2, with overall trading volume exceeding $10 billion. This surge in activity has attracted attention from large investors, or 'whales', who have been actively accumulating Pendle's native token, $PENDLE, in transactions including withdrawals of 295,443; 372,752; 115,500; 384,500; 668,000; 157,000; 500,000; and 444,000 $PENDLE from Binance. The platform's unique concept of separating yield-bearing assets into underlying assets and yield has contributed to its popularity, alongside the availability of a $PENDLE/USD price feed on the API3 Market, facilitating the development of onchain products across 17 blockchains.