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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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