Pendle PENDLE

PENDLE has moved +1.96% in the last day, -8.16% over the week, and -40.26% over the past month. The all-time high of $7.50 was set 787 days ago, leaving PENDLE at 16.5% of that peak. Reclaiming the record would require a 505% advance from here. With both the weekly and monthly trends negative, the path of least resistance remains lower for now.

Volatility & risk

Realised volatility for PENDLE is currently very high, with a 7-day annualised reading near 141%. That places it among the most volatile names in the top 100 (more volatile than 79% of peers), so position sizing matters. Traders should expect double-digit percentage swings within a single week to be normal rather than exceptional.

Liquidity & trading depth

Over the last 24 hours roughly $31.12M changed hands, equal to about 14.7% of the circulating market value turning over in a day. That is adequate turnover for a coin of this size, though large orders may still move the price. Liquidity health scores 46/100 on our composite, which blends 24-hour volume against market capitalisation.

Correlation with Bitcoin & markets

Over the past week, PENDLE's hourly returns show a correlation of 0.71 with Bitcoin. That is a tight link — PENDLE has effectively traded as a high-beta Bitcoin proxy, offering little diversification when BTC sells off. Correlation regimes shift, so this figure is a snapshot rather than a constant.

On-chain value & TVL

The DeFi ecosystem built on or powered by Pendle currently secures roughly $1.16B in total value locked (TVL) — the dollar value of assets deposited in its protocols. Against a market capitalisation of $211.1M, that gives a market-cap-to-TVL ratio of 0.18. A ratio below 1 means PENDLE's market value is smaller than the capital its ecosystem secures — a configuration value investors often read as relatively cheap, though it can also signal a token whose price has lagged its on-chain usage. TVL is a useful gauge of real economic usage, but it rises and falls with token prices, so read it alongside the trend in deposits rather than the dollar figure alone.

Our outlook blends three independent lenses. The technical model reads momentum as bearish and frames a near-term band of $1.07 to $1.34. The statistical model, driven by realised volatility, centres near $1.09 with a one-horizon spread of $0.1240 to $3.17. The relative model, anchored to how comparable top-100 assets have performed (median -9.22% over the past week), points to $1.08 to $1.31. Blending the three yields the horizon-by-horizon ensemble in the table below. Model confidence is Medium, reflecting data completeness and liquidity. These are probabilistic scenarios generated from market data — not guarantees, and not financial advice.

Pendle has a circulating supply of 170,650,907 PENDLE. There is no fixed hard cap; total supply currently stands near 281,527,448 tokens. Without a ceiling, long-run scarcity depends on the protocol's issuance and any burn mechanics. Fully diluted valuation and circulating market cap can diverge sharply when a large share of tokens is still locked, so both are worth comparing before drawing conclusions about value.

Pendle (PENDLE) is the 170th-ranked cryptocurrency tracked on TBN Express, with live pricing, derived risk metrics and a multi-model outlook refreshed throughout the day. The profile below combines project information with our own quantitative read of how PENDLE is trading right now.

Pendle is a protocol that enables the tokenization and trading of future yield. With the creation of a novel AMM that supports assets with time decay, Pendle gives users more control over future yield by providing optionality and opportunities for its utilization.

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