Data: Pendle's total locked-in value reaches 4 billion US dollars, and the total trading volume breaks through 10 billion US dollars
According to the analysis panel of Pendle, the total amount of encrypted assets locked on the platform has reached 4 billion US dollars, and the total trading volume has also broken through the 10 billion US dollar mark. On April 2nd, Pendle's daily trading volume even exceeded 400 million US dollars.
It is reported that Pendle significantly benefits from Ethereum staking frenzy. Most transactions on the platform are concentrated on liquidity staking tokens related to Ethereum and its corresponding returns. The inflow of funds from these liquidity staking platforms has increased Pendle's holding value. Data shows that weETH (the wrapped version of eETH from EtherFi) held by Pendle grew by 13% in the past week, currently at 263,442 weETH (worth $920 million).
In addition, Ethena-related token transactions are also very active, contributing more than $500 million in total lock-up volume for Pendle. TN, CEO of Pendle stated that prioritizing providing users with functions and products that meet their needs is a key focus for this platform looking forward.
Worth mentioning is that Pendle also allows users to use points for leveraged trading up to a maximum leverage ratio of 128 times. Currently about 10% of total lock-up volumes on Pendly come from point-based trades. With rapid development under way at Pendlё́ë́ë́ë́ë́ë́'s price has been steadily rising this year breaking through $5 recently.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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