The Pendle Protocol has risen 13% to $3.59 within the worth of its native token $PENDLE after asserting the inclusion of Bitcoin yield methods in new $BTC swimming pools. Not solely is the value rising, however neighborhood members are additionally excited in regards to the token, with 87% of them exhibiting robust bullish sentiment based on Coinmarketcap.
BitMex co-founder Arthur HAYES expressed optimism in regards to the launch, betting on $PENDLE to achieve $10 on social community X: “$PENDLE + $BTC DeFi = $10. Guess.” Pendle, together with Corn, Lambard (LBTC) and Babylon, will unlock new return alternatives for BTC. The brand new improvement will assist Bitcoin holders diversify into the DeFi area and earn rewards with out compromising the liquidity of their holdings to convey.
Pendle CEO TN Lee stated they’re excited to work with varied BTC yield protocols to open new alternatives for Pendle customers. They’ve adopted the important thing fastened revenue use circumstances for ETH and purpose to copy the identical success with BTC. Corn’s LBTC, powered by Lombard, will present liquid BTC staking on Babylon, a BTC-focused re-staking infrastructure layer.
Picture: Cryptonica