Pendle PENDLE

What PENDLE actually is on-chain

Pendle is an ERC-20 deployed on Ethereum, at contract address 0x808507121b80c02388fad14726482e061b8da827. That address, not the ticker PENDLE, is what uniquely identifies this asset: anyone can deploy a second token calling itself PENDLE, but the contract is unforgeable. Verify it against etherscan.io before sending funds or approving a spend.

Because it lives on Ethereum, PENDLE is held in any EVM-compatible wallet, transfers are paid for in ETH rather than in PENDLE itself, and secondary liquidity sits in Uniswap-style AMM pools. Two consequences follow for anyone setting alerts: you need ETH in the same wallet to move the token at all, and a quoted price taken from a pool is a pool price — it includes slippage that an order-book quote would not.

For PENDLE the project publishes a whitepaper, a public source repository and an active account as @pendle_fi. Both a written specification and readable code exist, which is a materially higher bar than most assets in this size range clear. None of it is a quality judgement about the asset; it is simply what can be independently checked before the chart is worth looking at.

Where PENDLE sits in the market

#144 places Pendle in the top of the mid-cap band. Liquidity is already fragmented at this depth: a large share of real PENDLE volume can sit on two or three venues, so a quote on a secondary exchange may lag the primary market by seconds and by more than a basis point. Position size matters more than entry timing here.

CryptoPingAi is currently streaming 6 live PENDLE order books (Binance, Gate.io, MEXC, HTX, Upbit, Bithumb). That is wider coverage than most assets ranked near #144 carry, so a divergence on any one of them is far more likely to be a local liquidity event than a genuine repricing. One of them is a Korean won market, so the Kimchi-premium spread between the KRW and USDT quote is visible on this page.

PENDLE against its all-time high

PENDLE is 76.8% off its $7.50 high (on 2024-04-11). At this depth the arithmetic turns against a recovery narrative: getting back to the record takes 4.32x, not a rebound. The high is better read as the marker of a completed cycle than as a target — most of the holders above spot are underwater by enough that their behaviour on the way up is supply, not demand. That high was set 3 years ago, recently enough that it still anchors how most current holders frame the asset.

PENDLE across its historical range

PENDLE has traded across a 222x range, between $0.0338 and $7.50. Any volatility figure quoted for this asset depends heavily on which part of that range it is measured over.

Spot is about 51.5x above the all-time low of $0.0338 (on 2022-11-14) — a substantial recovery, but one where a meaningful share of the holder base still has a cost basis within the visible range rather than far beneath it.

PENDLE supply structure

Only 60.3% of PENDLE's 281.5 million PENDLE total supply is circulating; 111.8 million — 39.7% of the total — is not yet in the market. A float this narrow means the quoted price is set by a small fraction of the eventual supply, and the unlock schedule, not demand, is the dominant variable in the supply narrative. Thin float also amplifies both directions of any move.

What kind of asset PENDLE is

Pendle is a decentralised exchange token. The economics are unusually legible for crypto: the protocol generates fees from trading volume, and the token's value proposition rests on whether it captures any of them. Volume on the underlying venue, the fee switch status and competitive pressure from other venues are the variables that actually matter — and DEX volume is itself highly cyclical, so revenue is not a stable base.

CoinGecko files PENDLE under 10 categories, including Decentralized Exchange (DEX), Exchange-based Tokens, Decentralized Finance (DeFi), Yield Farming, Automated Market Maker (AMM). CoinGecko also records deployments on BNB Chain (2,027 tracked tokens), Arbitrum (391 tracked tokens), Ethereum (3,072 tracked tokens), so on-chain liquidity is split across several networks and the cheapest venue depends on which deployment you are trading.

How to set a Pendle alert that is worth receiving

Pendle is the ERC-20 at 0x8085…a827 on Ethereum — quoted on 6 venues we stream — high dated 2024-04-11 — rank #144. On this profile the condition that carries signal is a two-sided price threshold beyond the recent band plus a 4-hour or daily RSI condition.

Full alert-design method: thresholds, RSI/MACD and volume conditions →