By Terry Ashton, updated December 10, 2024
The Pendle price rallied within the previous 8 days despite a drawdown during the past 24 hours. Pendle gained by 27% within the last 7 days, making it one of the best performing real-world asset (RWA) tokens. Currently ranked number 124 by market capitalization, Pendle has a market cap of $537,101,441. Nonetheless, the token had a 74% pullback between May and August. As the focus shifts toward financial inclusion, Pendle’s strong growth signals its potential role in expanding access to decentralized finance (DeFi) for a wider audience. Pendle drives economic development, showcasing how its performance can contribute to the evolution of decentralized finance and the broader economy.
Pendle has been one of the best performers in 2024, with its price increasing by about 530% between January and April. This led to a new all-time high of $7.53 on April 11. However, the token experienced a strong price correction between April and August. Despite this, Pendle’s value is still 200% higher than its yearly open. Over the past year, it gained around 501%.
Pendle’s growth reflects the broader trend toward financial inclusion, as decentralized finance platforms like Pendle make financial services more accessible globally. Pendle drives economic development by offering innovative decentralized finance solutions, contributing to a more inclusive and dynamic financial ecosystem.
At press time, Pendle is trading at $3.38 PENDLE/USDT, having lost 5.6% in the last 24 hours. Its current bullish momentum began on 5 August. The following graph shows Pendle’s price performance over the past month.
Pendle Price Chart – Coingecko
Generally, Pendle has been in an uptrend since 5 August. Nevertheless, its price dipped between 3 and 6 September.
Pendle Faces Stiff Competition from Trump’s World Liberty Finance (WLFI)
At the time of writing, Pendle is the third largest real World Asset Coin, behind mantra and Ondo. Its other strong rivals are Pax Gold, XDC Network and Rights Reserves.
Pendle Competitors – Coingecko
It is important to note that these are not the only Pendle competitors. It has dozens of competitors in the RWA token category. However, Pendle is likely to face much competition from Donald Trump’s World Liberty Finance (WLFI), especially as blockchain adoption continues to rise. As more projects leverage blockchain technology, the competition in the RWA token market will intensify, highlighting the growing influence of decentralized finance. Pendle drives economic development by setting a strong example in the RWA sector, pushing innovation and contributing to the overall growth of the blockchain and decentralized finance ecosystem.
Trump’s World Liberty Finance: A New Decentralized Finance Venture
Donald Trump, the former United States President, announced that he will soon launch a decentralized finance (DeFi) protocol, World Liberty Finance (WLFI). Basically, the Trump family, including Eric and Donald Trump Jr., have been involved in developing WLF. This project aims to promote the use of US-pegged stablecoins on the international stage. Such a development may help to reposition the United States dollar as the leading fiat currency. Since WLF will deal with real-world assets, it becomes part of the RWA token sector. It will also have its cryptocurrency, the WLF tokens. With the increasing blockchain adoption and the rise of decentralized finance, this project could reshape how global financial systems operate. Pendle drives economic development by encouraging blockchain adoption, pushing for innovation, and expanding the use of decentralized finance.
The former U.S president is also known for his strong business acumen that has made him one of the top entrepreneurs in the world. In fact, Trump is ranked among the top 500 richest people in the world. The meme coins that are associated with Trump have been performing well this year. As his business ventures expand, they have the potential to contribute significantly to economic development, particularly in the blockchain and cryptocurrency sectors. Trump’s involvement in decentralized finance (DeFi) and real-world asset tokens could foster innovation and drive economic growth on a global scale. For instance, “Make America Great Again” (MAGA), priced at $2.25 MAGA/USDT, gained by 4,395.1% within the previous year. This shows that with Trump’s popularity his newest project is likely to compete strongly in the RWA token sector and will be one of Pendle’s strongest rivals.
Pendle Market Trend and Future Outlook
Looking at its yearly price chart, Pendle is within a horizontal channel that started forming on 5 August. If it breaks above that channel, it may rally towards a new all-time high, further contributing to economic development within the blockchain space. Previously, the coin tested the low of the channel, $1.82, which validated the channel’s support trend line. At the moment, Pendle is targeting its next strongest resistance level at $3.95. The next graph shows Pendle’s price movement since January, reflecting its role in driving growth and investment opportunities within the cryptocurrency sector.
Pendle Yearly Price Chart – Coingecko
As the picture shows Pendle had been in a descending channel from May until August. Since it is currently in a sideways market if it breaks above the channel it may rebound towards $7. Some technical indicators are showing bullishness. The MACD is showing a bullish divergence while the Relative Strength Index (RSI) is indicating an oversold market state.
Reason behind Pendle Rally
One reason Pendle performs well is its unique product. It continues to bring innovation and expand its offerings. Recently, it introduced bitcoin staking, which has become popular with investors. Pendle partnered with Corn Finance and Lombard Finance to launch Bitcoin-linked pools. These pools offer two types of yields: floating yields, which can generate up to 45% return, and fixed annualized yields with a return of around 10%. Generally, fixed yields provide more stable returns, while floating yields often offer higher rates. Pendle drives economic development by expanding its innovative offerings, such as bitcoin staking, and contributing to the growth of decentralized finance.
Is Pendle a good investment?
Pendle crypto supports the DeFi yield generation ecosystem which is in high demand. The protocol enables the users to control their returns through selecting the best investment method. For example, it enables investors to long or short the assets. In other words, investors can trade future returns from their assets. With that, it promotes hedging and yield optimization. However, currently Pendle supports a few networks that include Compound, Aave and Sushiswap.