The price of PENDLE coin has recently shown a remarkable increase of 130%, drawing the attention of investors once again. This surge in value over the past month signals growing confidence in PENDLE's potential and the benefits it offers, leading to significant interest from individuals involved in the market.

The recent price surge for PENDLE has captivated investors, with the cryptocurrency seeing a notable 130% rise in its value within the last 30 days. While multiple factors have contributed to this surge, the primary reason has been the substantial growth in the total value locked (TVL) within the Pendle protocol. Data provided by DeFiLlama indicates a remarkable increase in Pendle's TVL, surging from $230 million to over $4 billion, showcasing a significant rise in user engagement and adoption of yield tokenization services.

The escalation in Pendle's TVL not only signifies an expanding user base but also hints at increased utilization of the platform and potential enhancement of liquidity and utility within the Pendle network. With a rise in confidence regarding what Pendle has to offer, investors are becoming increasingly interested in its ability to provide attractive returns in the decentralized finance industry.

Current data shows that PENDLE has experienced a 23.39% increase in the last 24 hours, reaching a trading value of $7.20. Despite this surge, statistics indicate a 20.38% drop in the altcoin's trading volume during the same period.

Arthur Hayes Expresses Interest in PENDLE

Prominent figures in the cryptocurrency sector have also taken notice of PENDLE's impressive price surge. Arthur Hayes, the co-founder of BitMEX, applauded the rise of Pendle from his personal X account, humorously questioning if the altcoin was overlooking the concept of gravity. Known for his generally optimistic outlook on cryptocurrencies, Hayes showcased his confidence in PENDLE's potential by reallocating his assets to take advantage of the coin's substantial gains.

Data from Etherscan reveals that Hayes' wallet currently holds 1.4 million PENDLE tokens, amounting to over $10 million. This significant investment highlights Hayes' trust in the altcoin's capacity for future growth.