The TVL of Pendle reached a record 9.5 billion USD - Can the price of PENDLE break through 7.2 USD?

Pendle (PENDLE) has once again become the focus of the crypto market as Arthur Hayes – co-founder of the BitMEX exchange – revealed a $1.02 million investment into this token. This move is part of a plan to accumulate altcoin worth $16.43 million that Hayes has just implemented, marking a reversal of the previous take profit strategy and demonstrating renewed confidence in DeFi projects built on Ethereum.

Famous investors like Arthur Hayes are often seen as important indicators of the market. His addition of PENDLE to his portfolio not only creates a positive signal for individual investors but may also attract additional institutional capital. At the same time, this move also reinforces Pendle's position as a leading platform for yield trading ( in DeFi. Analysts believe that any updates from Hayes's portfolio are likely to create additional momentum for PENDLE's growth.

Impressive TVL Growth – A Step Forward in Real-World Adoption

Pendle is witnessing a strong boom in its fundamentals. The total value locked )TVL( has surged to 9.5 billion USD as of August 12, more than three times the level recorded in April. This achievement allows Pendle to surpass even the TVL of emerging blockchains like Sui, Aptos, and Sei.

![])https://img-cdn.gateio.im/webp-social/moments-40bd3e12bf8bf0888d7cb7317d6a27ad.webp(Source: DefillamaThe biggest driving force behind this growth comes from the profit tokenization strategy, particularly related to the USDE stablecoin ecosystem of Ethena. Currently, Pendle holds nearly 60% of the 7.7 billion USD supply of USDE, playing a key role in the strategy referred to by the DeFi community as the "infinite profit loop."

The increase in TVL not only reflects the growing level of adoption but also directly strengthens the revenue base for the protocol. This is an important factor supporting the long-term valuation of the PENDLE token.

Technical Analysis: Is PENDLE consolidating before breaking out?

At the time of writing, PENDLE is trading around 5.48 USD, continuing to maintain above key technical levels including the 30-day SMA at 4.64 USD and the 200-day EMA at 3.99 USD, indicating that the upward trend is still preserved.

The MACD indicator has shifted to the positive zone, sending an initial positive signal, while the RSI at 62.62 reflects a balance between buying and selling pressure.

Notably, the buyers are trying to defend the Fibonacci level of 5.43 USD, but to confirm a clear breakout, the price needs to close above 5.97 USD. However, with trading volume down by 55.66% over the past 24 hours, the market still shows caution, indicating that investors are waiting for a confirmation signal for the next trend.

![])https://img-cdn.gateio.im/webp-social/moments-26205210068fc0a63d71c0e552d5acec.webp(PENDLE price chart | Source: TradingView## Market outlook

The strong recovery of PENDLE in recent times comes from three main driving forces. First, large-scale accumulation from whales and prominent investors like Hayes has created significant upward pressure on the price. Second, the rapid adoption rate thanks to profit tokenization strategies has helped Pendle assert its position in the DeFi ecosystem. Finally, positive technical factors as the price maintains above key support levels further bolster confidence in the upward trend.

However, short-term technical signals are still not completely in agreement, indicating that the market needs to closely monitor key resistance areas in the upcoming sessions. Notably, with a TVL/market cap ratio of only 0.1265, PENDLE is considered undervalued compared to many projects in the same sector, opening up opportunities for a much-anticipated revaluation in the near future.

The biggest question for investors right now is whether PENDLE can maintain the support level of 5.43 USD and move past the 6 USD mark. If successful, this token will have the opportunity to challenge the strong resistance area of 7.2 USD, where the price has previously failed three times, according to analyst Ali Martinez.

"PENDLE: Three failed attempts at the 7.2 USD threshold - Will the next breakout occur?", Ali wrote on X.

![])https://img-cdn.gateio.im/webp-social/moments-edf1888f3c12f4d0a7849334a221cc84.webp(Source: Ali/ XVWith the backing of "whale" Arthur Hayes, sustainable TVL growth, and a strategic position in the DeFi ecosystem, Pendle is on the verge of becoming one of the most prominent names in the upcoming altcoin wave.

Justin