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Pendle's January Revenge

The hot DeFi protocol has gone parabolic on its liquid restaking plays.

Jack Inabinet
Jan 30, 2024 • 2 min read

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Pendle had an epic January, and the token price was reflective of its success; PENDLE is up 138% on the month! What trending narrative has unleashed a wave of Pendle demand?

Last year, Pendle steadily increased its TVL to $235M to meet demand from token holders seeking a low-risk way to amplify their returns on yield-bearing collateral. Growth was supported by Pendle’s multi-chain expansion and its Arbitrum deployment, in particular, which launched last March and currently holds over $100M in locked value.

Although Pendle grew at a respectable pace in 2023, TVL has skyrocketed to new highs and gone parabolic to start the new year, increasing by 135% to $552M🚀

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Written by Jack Inabinet

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Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial real estate development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business.