Pendle Price: PENDLE Live Price Today | Market Cap & Chart Analysis

·

Pendle (PENDLE) Live Price Overview

As of February 2, 2025, the Pendle (PENDLE) live price stands at $3.37**, with a 24-hour trading range between a low of **$3.26 and a high of $3.48**. The token has seen a **-3.12% decline** over the past day, reflecting short-term market volatility. With a circulating supply of **164.71 million PENDLE tokens** and a maximum supply capped at **281.53 million**, the current market capitalization sits at **$553.94 million, ranking PENDLE at #143 among all cryptocurrencies.

The 24-hour trading volume is currently not available, but historical data suggests consistent activity across major decentralized and centralized exchanges. This positioning reflects growing interest in yield-based DeFi protocols, with Pendle emerging as a key player in the structured yield economy.

👉 Discover how to track real-time crypto movements and maximize yield strategies today.

All-Time High and Low Performance

PENDLE reached its all-time high (ATH) of $7.50** on April 11, 2024, driven by increased adoption of its yield-trading mechanism and broader bullish momentum in the DeFi sector. This peak represented a massive return for early investors, especially considering its all-time low of just **$0.03377729, recorded on November 15, 2022—shortly after the collapse of major crypto markets following the Terra (LUNA) crash.

This dramatic swing—from sub-$0.04 to over $7—illustrates both the high-risk and high-reward nature of investing in innovative DeFi projects like Pendle. The recovery from late 2022 through early 2023 marked a turning point, where institutional and retail interest began converging around yield optimization tools.

What Is Pendle?

Pendle is a DeFi yield trading protocol built on the Ethereum blockchain, designed to unlock liquidity and flexibility in future yield streams. It enables users to tokenize and trade expected yields from assets such as staked ETH, liquidity provider (LP) tokens, or other interest-bearing instruments.

At its core, Pendle uses a unique mechanism that splits yield-generating assets into two distinct tokens:

This separation allows users to either lock in predictable returns by holding PTs or speculate on yield fluctuations by trading YTs—offering unprecedented precision in yield management.

For example, an investor holding Lido’s stETH can deposit it into Pendle and receive both a PT (redeemable for 1 stETH later) and a YT (entitled to receive staking rewards during the term). The YT can then be sold for immediate cash flow, enabling traders to monetize future earnings without giving up principal exposure.

This innovation has positioned Pendle at the forefront of the structured finance movement within decentralized finance.

👉 Learn how next-gen DeFi platforms are redefining yield generation and capital efficiency.

Historical Price Movement of PENDLE

PENDLE was launched on April 28, 2021, at an initial price of $1.80**. Within days, it surged to **$2.45 by May 5, 2021, fueled by strong community anticipation. However, the broader market downturn pulled it down sharply to **$0.53** by May 24, before rebounding to $1.27 the next day.

Throughout mid-2021, PENDLE fluctuated between $0.60 and $1.14, showing resilience despite bearish sentiment. In July, it dipped to a low of **$0.31**, only to recover to $1.27 by August 24—a level not sustained due to continued macroeconomic pressures.

By October 2021, PENDLE struggled to remain above $1 and entered a prolonged downtrend as the crypto winter deepened. On January 6, 2022, it briefly rallied to $0.60 but failed to maintain momentum. The May 2022 Terra-LUNA collapse further accelerated losses, pushing PENDLE toward its historic bottom near $0.034 in June 2022.

A significant recovery began in January 2023, when the price climbed from $0.04 to $0.09 within weeks. By February 20, it had doubled again to $0.18**, and by March 2023, it reached **$0.33, signaling renewed confidence in the protocol’s utility and roadmap.

Since then, strategic partnerships, improved user interfaces, and expanded chain support (including Arbitrum and Optimism) have contributed to sustained growth—culminating in the April 2024 ATH.

Use Cases of PENDLE Token

The PENDLE token serves as the native utility and governance asset of the Pendle ecosystem. Key functions include:

This economic model follows the successful blueprint pioneered by protocols like Curve Finance, emphasizing long-term alignment over short-term speculation.

Pendle Tokenomics Breakdown

PENDLE has a maximum supply of 281.53 million tokens, with approximately 164.71 million currently in circulation as of early 2025.

While earlier reports cited a max supply of 231 million, updated data confirms the higher cap due to extended emissions for ecosystem development.

Token distribution is structured as follows:

Team allocations are fully vested since April 2023, reducing concerns about sudden sell-offs. Weekly emissions started at 667,705 tokens in October 2022 and have been decreasing by 1.1% per week—a deflationary mechanism designed to taper off by April 2026.

Beyond that date, a sustainable 2% annual inflation rate will be introduced exclusively to fund ongoing incentives, ensuring long-term protocol viability without excessive dilution.

Founding Team Behind Pendle

Pendle was created by an anonymous team operating under pseudonyms: TN Lee, GT, YK, and Vu. Despite their privacy-focused approach, the team has demonstrated technical excellence and strategic foresight through continuous protocol improvements and transparent communication via community forums and governance channels.

Their vision centers on making yield trading more accessible, efficient, and composable across blockchains—a mission increasingly resonant in today’s multi-chain DeFi landscape.

How to Store PENDLE Tokens

PENDLE is an ERC-20 token on Ethereum and compatible with any wallet supporting this standard. Recommended storage options include:

For maximum security, especially for long-term holdings, using a hardware wallet is advised. Always verify contract addresses before sending funds to avoid phishing scams.

Frequently Asked Questions (FAQ)

What is the current price of Pendle (PENDLE)?

As of February 2, 2025, one PENDLE token is trading at $3.37. Prices may vary slightly across exchanges due to liquidity differences.

What was Pendle’s highest price?

PENDLE reached its all-time high of $7.50 on April 11, 2024, amid strong demand for yield-trading solutions in DeFi.

How many PENDLE tokens are in circulation?

There are currently 164.71 million PENDLE tokens circulating out of a maximum supply of 281.53 million.

Can PENDLE be staked?

Yes. Users can stake PENDLE to receive vePENDLE, which provides governance rights and access to protocol-generated rewards.

Is Pendle built on Ethereum?

Yes, Pendle operates primarily on Ethereum but has expanded to Layer 2 networks like Arbitrum and Optimism for lower fees and faster transactions.

Where can I buy PENDLE?

PENDLE is available on major centralized exchanges like OKX and Bybit, as well as decentralized platforms such as Uniswap and Pendle’s own app interface.

👉 Start exploring top-tier crypto platforms offering advanced trading and staking features now.