Binance Receives $4.65 Million in PENDLE Transfers from Pendle Finance Wallet after a More Than 25% Price Increase of PENDLE
Pendle (PENDLE) is currently experiencing a bullish breakout, trading above $5.00 with a cautiously optimistic outlook. The cryptocurrency is exhibiting a steady upward movement, having followed a rising trendline since March.
In the past 24 hours, the trading volume of Pendle has surged to $385.9 million, marking a 477.07% increase, indicating growing investor interest. Pendle now represents the majority of the wallet's portfolio, both in token volume and dollar value, with the wallet holding 26.19 million PENDLE tokens, currently valued at $135.4 million.
The price action is climbing through the upper half of the identified ascending channel in the daily chart, maintaining alignment with the long-term upward pattern. The current levels place Pendle near the zone previously tested in April and July, serving as a $3.70 support area.
A well-recognized ascending triangle pattern has formed since March, with higher lows pressing against a resistance near $4.95. This pattern, recently broken with rising volume, signals a bullish momentum that could potentially double the price to near $10–$11, especially if daily closes remain above $5 and the platform sustains higher lows.
Short-term pullbacks between $4.70 and $5.20 are possible before the next upward leg, consistent with consolidation phases after breakouts. The market structure supports continued upside, with the trend intact for Pendle.
Fundamental drivers, such as the recent transfer of Pendle to Binance, are also contributing to the bullish sentiment. This listing or transfer generally improves liquidity, access, and trading volume, supporting price appreciation in cryptocurrencies like PENDLE. The listing likely contributes to the recent bullish breakout and wider market interest, complementing fundamental growth factors such as increased DeFi integrations (e.g., Lido, Aave).
Pendle’s core DeFi value proposition—yield tokenization—is gaining traction, which may increase demand for PENDLE tokens as adoption grows across Ethereum Layer 2 and compatible chains. Expansion of liquidity pools and integration with other DeFi protocols enhances its utility and could sustain upward price trends alongside a recovering or bullish overall DeFi market sentiment.
In the near term, experts expect PENDLE’s price may reach between $3.67 and $5.49, with some projections estimating a drop to around $3.75 but also highs near $5.43 to $5.49. More bullish forecasts suggest a potential surge up to $10–$11 by late August 2025, reflecting over 100% gains from current levels. Longer-term (2026–2030) forecasts project further gains, with potential price targets ranging from about $5.26 by 2030 (conservative technical estimate) up to $20+ in coming years due to growth in Pendle’s market utility and adoption.
As of now, if the channel continues holding, the next upward movement may target the upper boundary near $5.70-$6.00. Investors should remain cautious and monitor market trends closely, as near-term volatility and minor pullbacks remain possible before sustained gains occur.
- The surge in trading volume of Pendle cryptocurrency, currently valued at $385.9 million, indicates a growing interest from investors in the crypto industry, particularly in the finance sector, facilitated by technology.
- The formation of an ascending triangle pattern in Pendle, which has been broken with rising volume, suggests a potential doubling of its price to near $10–$11 due to bullish momentum, aligning with the long-term upward trend in the cryptocurrency industry.
- The listing of Pendle on Binance has enhanced its liquidity, access, and trading volume, contributing to the bullish sentiment in the cryptocurrency industry, while its core DeFi value proposition continues to gain traction, potentially increasing the demand for PENDLE tokens.
