In the altcoin market, there has been a significant increase in Pendle's native network asset, PENDLE, with a 30% surge in price over the past 24 hours. This surge has attracted the attention of investors, especially given the current volatility in the broader cryptocurrency market.

Pendle, a project that enables tokenization and future yield trading, has gained considerable interest due to its recent price rise. This surge has propelled PENDLE into the list of top gainers in the market.

Analysts attribute Pendle's price increase to the rapid growth in the total value locked (TVL) on the network. Data from DefiLlama reveals that Pendle's TVL has surged from $240 million at the start of the year to approximately $4 billion in April. Currently, Pendle's TVL stands at $3.96 billion, showcasing the increasing adoption of its platform for tokenization and future yield trading.

The surge in PENDLE's price and TVL is closely tied to Ethereum's reorganization trend, with restructured Ethereum tokens from protocols like EtherFi and Renzo playing a significant role in Pendle's ecosystem. Additionally, the recent fee hike in Pendle is linked to the growing trading activity of yield tokens associated with USDe, Ethena's synthetic US dollar pegged at 1:1 to the stablecoin. The introduction of USDe in Pendle has further sparked investor interest, providing opportunities to capitalize on the high yields offered by Ethena via Pendle's pools.

Notable figures in the cryptocurrency market, such as Arthur Hayes, co-founder of BitMEX, have praised Pendle as the "future" of DeFi and commended its recent price surge. These endorsements from key industry figures highlight Pendle's innovative approach to yield generation and its potential to transform the DeFi sector.

At present, PENDLE is trading at $6.27, reflecting a significant 26.73% increase in the last 24 hours. Over the past 30 days, the altcoin's price has surged by 101%.

The original article was posted on COINTURK NEWS under the title: Pendle’s Remarkable Price Surge in the Altcoin Market