PENDLE Price Surges 38% on HyperEVM Launch—Whale Activity Looms
PENDLE Eyes Breakout, But Whale Moves Raise Concerns
Pendle (PENDLE) has seen a significant price increase driven by its HyperEVM integration, record staking numbers, and rising Total Value Locked (TVL). However, recent whale deposits to Binance have introduced an element of uncertainty, making the $7.50 resistance level a critical point for short-term price direction.
According to CoinMarketCap data, PENDLE rose 38% in a week, with trading volume skyrocketing 414%. With over 90% of the token supply already unlocked, traders are watching for the next token release on August 11, which could trigger profit-taking.
HyperEVM Integration Fuels Rally
The price surge followed the launch of Ethena's (ENA) on Pendle's HyperEVM, alongside capped pools for sUSDe offering fixed yields of 8.8% and LP yields of 378%, according to Pendle's announcement on X.
This positions Pendle further into the fixed-yield space, with Pencosystem integration anticipated soon.
PENDLE Price Analysis: Breakout or Breakdown?
On the daily timeframe, PENDLE broke out of a symmetrical wedge pattern, retesting support at $3.50. The price has remained within the $2.50 to $7.50 range since April 2024.
After an initial rejection at $5, the second attempt broke through this resistance. If momentum continues, PENDLE could rally by 116%. However, the $7.50 zone presents a significant challenge.
Failure to hold above $5 could invalidate this projection. Price surges are often followed by corrections as markets cycle.
Staking, TVL, and DeFi Growth
Pendle's DeFi profile has strengthened, with approximately 35.69% of PENDLE's market cap ($307 million) currently staked.
- Total Value Locked (TVL) reached $8 billion, with $7.41 billion on Ethereum, bringing the $10 billion target within reach.
- Pendle launched Boros on Arbitrum (ARB), allowing users to trade Funding Rates as yield, expanding tokenization use cases.
- DEX volume in the last month was $5.15 billion, with annual fees around $53 million and liquidity at $25 million.
These factors indicate strength, particularly with staking no longer classified as a security. However, concerns have been raised about activities linked to a Pendle Finance wallet.
Whale Activity Sparks Profit-Taking Fears
Caution emerged after SpotOnChain reported a multi-sig wallet connected to Pendle Finance transferred 900K tokens (valued at $4.65 million) to Binance shortly after the price increase.
This wallet primarily accumulated tokens in 2025, including a $63 million transfer to add liquidity. It still holds $135.4 million worth of tokens, meaning further selling could impact the upward trend.
While the breakout structure, HyperEVM integration, and expanding yield utility support further gains, whale activity suggests the rally may not be straightforward.
If demand from staking and new integrations remains strong, PENDLE's 116% target remains possible in the short term.