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Pendle breaks record in TVL and trading volume!
The yield platform, called Pendle, has reached a total value locked of $4 billion. In addition, it recorded a trading volume of $10 billion. The value of crypto held on the platform increased by 4.95%. Pendle's basic idea is to divide yielding assets into underlying assets and yields so that they can be traded separately. The trading volume on the platform has reached $10 billion, indicating that it is gaining popularity.
Pendle has benefited significantly from the ETH restaking boom. It also hosts trading that mostly focuses on ETH and its associated liquid restaking tokens. Inflows from these liquid restaking platforms have boosted the value on Pendle. For example, weETH holdings from liquid restaking platform EtherFi have increased by 13% in the past week. Pendle currently holds 263,442 weETH. Similar inflows are also coming from a liquid repurchase protocol called Renzo.
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