Pendle Finance witnessed a notable January surge, rallying by 130.18% from $1.187 to $2.7303, with the parabolic movement from the $1 floor on January 3rd keeping investors on edge, according to CoinMarketCap data.
Currently testing resistance at $2.54, a break and close above this level may propel Pendle to $3.19. However, caution is advised as bears could still pose a threat, potentially causing a decline to $2.
In a significant development, Pendle Finance partnered with Ondo Finance, a protocol backed by Coinbase Ventures. This collaboration enables Ondo Finance users to leverage Pendle Finance’s yield tokens, contributing to a 12% surge in the $PENDLE token over the last day.
Pendle currently trading is $2.93, reflecting a 12.35% increase in the last 24 hours. The market cap stands at $685,983,574, with a trading volume of $65,542,923. The circulating supply is 238,185,588 PENDLE coins out of a max supply of 258,446,029.
As Pendle Finance continues to make waves, investors eagerly await the unfolding of this newfound momentum.
Also Read: Pendle Finance Introduces RWA Product to its DeFi Platform
