Key Takeaways
Pendle’s price surged followed its HyperEVM integration, record staking, and rising TVL. Yet whale deposits to Binance introduced uncertainty, making the $7.50 resistance critical for short-term price direction.
At the time of writing, Pendle [PENDLE] rose 38% in a week, while trading volume soared 414%, according to CoinMarketCap data.
With over 90% of supply already unlocked, traders eyed August 11 for the next token release — a point that could spark profit-taking.
HyperEVM debut adds fresh catalyst
The rally came a day after Pendle announced Ethena’s [ENA]launch on HyperEVM, alongside $100 million capped pools for sUSDe with 30x Sats.
The pools offered fixed yields of 8.8% and LP yields of 378%, according to Pendle’s posts on X.
Source: X
Naturally, the announcement positioned Pendle deeper in the fixed-yield space, with Pencosystem integration “just around the corner.”
PENDLE price breaks out, but can it hold?
On the daily timeframe, PENDLE broke from a symmetrical wedge pattern and completed a retest at $3.50. The altcoin had stayed in the range between $2.50 and $7.50 since April 2024.
Initially, it faced rejection at $5 after a breakout, but the second spike blasted through this resistance.
With the price now above $5, continued momentum could lead to a 116% rally. However, there was a stumbling block at the $7.50 zone to hit this target.
Alternatively, failure to hold above $5 could invalidate this projection. Usually, such price surges are met with corrections as the markets move in cycles.
Staking, TVL, and protocol growth
Pendle’s DeFi profile strengthened in parallel.
After the SEC clarified that staking was not a security, yield-based protocols saw renewed inflows.
On top of that, Pendle launched Boros on Arbitrum [ARB], enabling users to trade Funding Rates as yield — broadening tokenization use cases.
About 35.69% of PENDLE’s market cap, or $307 million, was staked.
Total Value Locked hit $8 billion, with $7.41 billion on Ethereum, putting the $10 billion milestone in sight.
Source: DefiLlama
Additionally, its DEX volume in the last month was at $5.15 billion. Its annual fees were approximately $53 million, while its liquidity was $25 million.
All these pointed to strength, especially now that staking was not a security. However, questions were raised concerning the activities of a wallet linked to Pendle Finance.
Whale wallet stirs profit-taking concerns
Still, caution crept in after SpotOnChain flagged a multi-sig wallet linked to Pendle Finance.
At press time, about 900K tokens valued at $4.65 million were moved to Binance immediately after the the coin’s short term rise.
In fact, this wallet had mostly accumulated in 2025, with a major $63 million transfer earlier in the year to add liquidity. It still held $135.4 million worth of tokens, meaning further selling could impact momentum.
Source: SpotOnChain
While breakout structure, HyperEVM integration, and expanding yield utility favor continued upside, whale activity suggested the rally may not be one-way.
If demand from staking and new integrations sustains, PENDLE’s 116% target remains on the table in the short term.
