Opened a long position in Pendle, simply sharing the logic.
Pendle came into the public eye during the last round of ETH re-staking, and later became a significant player in USDE and BTCfi. Who doesn't like stable returns for large investors?
Pendle's core competitiveness lies in fixed income wealth management, and the corresponding hedging method relies on speculators holding YT tokens. In theory, any income-generating asset can be played on Pendle, which opens up a vast imagination, especially for RWA, US Treasury token, and USDE token. From the TVL below, it can be seen that over 50% is USDE, with WBTC being the second largest. These two foundations are still very stable.
So why has it dropped so much since July 1st? The main reason is that USD0 exploded, and yields have dropped significantly, leading to a substantial decrease in trading volume and TVL. However, once it stabilizes, there will be a continuous stream of new projects entering, just like the recently launched trading pairs on Bear Chain, which have also seen high demand.
For Pendle, it is essentially an exchange; the failure of one or two projects does not affect its fundamentals. We can only enter the market when it makes mistakes. This round has seen a significant drop from the peak, and the cost-effectiveness has emerged, so we firmly bought the dip!
$PENDLE #加密市场反弹
Pendle came into the public eye during the last round of ETH re-staking, and later became a significant player in USDE and BTCfi. Who doesn't like stable returns for large investors?
Pendle's core competitiveness lies in fixed income wealth management, and the corresponding hedging method relies on speculators holding YT tokens. In theory, any income-generating asset can be played on Pendle, which opens up a vast imagination, especially for RWA, US Treasury token, and USDE token. From the TVL below, it can be seen that over 50% is USDE, with WBTC being the second largest. These two foundations are still very stable.
So why has it dropped so much since July 1st? The main reason is that USD0 exploded, and yields have dropped significantly, leading to a substantial decrease in trading volume and TVL. However, once it stabilizes, there will be a continuous stream of new projects entering, just like the recently launched trading pairs on Bear Chain, which have also seen high demand.
For Pendle, it is essentially an exchange; the failure of one or two projects does not affect its fundamentals. We can only enter the market when it makes mistakes. This round has seen a significant drop from the peak, and the cost-effectiveness has emerged, so we firmly bought the dip!
$PENDLE #加密市场反弹
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PENDLE
3.467
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