Pendle

État actuel : Pendle is trading at $1.26 with a $0.3 billion market capitalization (rank #149). The price moved +2.87% over the past 24 hours and is -8.46% over 7 days; the 30-day move stands at -39.46% and the 90-day at +3.12%. Both long-term and short-term horizons are pointing the same direction down — historically the regime where forced selling and capitulation are most likely to be in their later stages.

Position dans le cycle : The asset trades deep in the post-peak drawdown regime, more than 70% below its prior cycle high — typical of late-stage bear conditions or assets that have permanently re-rated lower.

Volatilité et structure : 30-day realized volatility of 95.8% annualized is high for an asset this size. Our composite multi-horizon Price Strength reads Bearish (27/100), against a weakening multi-horizon backdrop with cumulative pressure across 30/90-day windows.

Beyond Bitcoin, PENDLE's 90-day return correlations to the other two largest layer-1 references help characterize whether the asset moves as part of a crypto-market beta complex or as something more idiosyncratic. The Pearson correlations across daily log returns:

• Bitcoin reference: +0.61 — a strong positive relationship.
• Ethereum reference: +0.60 — a moderate positive relationship.
• Solana reference: +0.63 — a strong positive relationship.

Strong correlation to multiple references typically indicates that the asset trades primarily as crypto-market beta — moves in BTC/ETH/SOL drive most of the price action, and stand-alone alpha is harder to capture. Weak or negative correlations indicate idiosyncratic drivers (project-specific news, sector rotation within crypto, or narrative shifts) that can produce returns uncorrelated with the broader market.

Pendle (PENDLE) is une cryptomonnaie, négociée sur les marchés mondiaux d'actifs numériques. It trades at $1.26 as of the latest update, with a 24-hour move up 4.85%, placing it at rank #166 by market capitalisation among all listed digital assets. Pendle's current market cap stands at $324.35M, a figure used by traders, analysts and institutional desks to gauge relative liquidity and risk exposure across the crypto market.

Sur cette page, vous trouverez un tableau de bord en direct, actualisé quotidiennement, qui suit Pendle à travers plusieurs sources de données — historique des cours sur plusieurs années, activité on-chain quand disponible, fondamentaux comme l'offre en circulation et la dilution, principales plateformes par volume, analyse technique avec moyennes mobiles et RSI, et une prévision algorithmique à court, moyen et long terme. Tous les chiffres proviennent d'APIs publiques et sont mis en cache localement ; rien ici n'est un conseil en investissement.

Pendle gives holders governance over one of the established DeFi protocols. Token value depends on protocol revenue, TVL, user growth, and the credibility of the governance process. Treat the token as equity in the protocol.

Pendle est un token de gouvernance DeFi : la propriété du token confère des droits de vote sur les paramètres du protocole sous-jacent (frais, actifs listés, allocation de trésorerie) et, dans certains cas, une part des revenus du protocole. La valeur du token suit l'utilité et les revenus du protocole — pas le prix d'un actif sous-jacent.

Primary use cases: governance participation (voting on parameter changes), fee-sharing or rebates in protocols that distribute revenue to stakers, collateral on lending markets (for the major tokens), and exposure to the underlying protocol's growth.

Pendle's tokenomics combine its supply schedule, current circulating supply, and the relationship between circulating market cap and fully-diluted valuation. At over 99% of maximum supply issued, future issuance pressure is effectively zero — the supply curve is now flat, and value accrual must come from network adoption rather than from supply schedule mechanics.

For thesis-building, the relevant question is whether the structural value accrual mechanism (fee burns, staking yield reinvestment, deflationary supply mechanics, ecosystem TVL growth) outpaces the structural emission pressure. When it does, the price tends to grind higher over multi-quarter windows even without speculative momentum; when it does not, the asset typically requires consistent narrative-driven demand to absorb the issuance.

The macro backdrop for crypto assets in 2026 is dominated by the Federal Reserve's rate path, the trajectory of dollar liquidity, and the unwind (or non-unwind) of the post-2020 expansion in M2 money supply. Crypto assets — and Bitcoin in particular — have historically responded most strongly to changes in the global liquidity regime, with risk-on phases coinciding with falling real yields and a softening dollar, and risk-off phases the inverse. Given the 90-day BTC correlation of +0.61, PENDLE's near-term macro sensitivity will be similar to Bitcoin's — driven primarily by the same liquidity conditions and risk-asset flows.

The cross-asset relationships worth monitoring: the dollar index (DXY) — historically inversely correlated with crypto over longer windows; the 10-year Treasury yield — a proxy for the cost of risk capital; gold — which often shares "monetary hedge" framing with Bitcoin during certain regime changes; and the S&P 500 — which during liquidity-driven moves often rhymes with crypto despite the popular framing of crypto as uncorrelated.

For Pendle specifically, the macro variable that has empirically led price most often is global crypto-market liquidity — proxied by stablecoin total supply, futures open interest, and exchange volumes. When these expand, PENDLE tends to follow; when they contract, the relationship typically reverses.

Specific risks: protocol exploit risk (a flaw in the smart contracts can wipe out treasury and dilute the token), governance attacks (hostile actors acquiring voting power), revenue dependence on broader DeFi activity (cyclical), competitive pressure from rival protocols, and regulatory ambiguity around governance-token classification.