$Pendle Surges 13% to $3.59 Post $BTC Pools Launch News

 
Ritu Lavania
Written By 
Ritu Lavania
September 12, 2024

Pendle protocol sees a 13% jump to $3.59 in the value of its native token $PENDLE after it announced to include Bitcoin yield strategies with new $BTC pools.

Not just a price surge, but the community are pumped about the token with 87% showing strong bullish sentiments, as per Coinmarketcap data.

BitMex Co-founder Arthur Hayes also showed his optimism about the launch as he bets on $PENDLE rising to $10, in a X post, “$PENDLE + $BTC DeFi = $10. Bet.”

Pendle along with a trio of Corn, Lambard(LBTC), and Babylon will collectively unlock new yield opportunities for BTC. The new development will help Bitcoin holders to diversify in the DeFi space and also earn rewards without compromising on the liquidity of their assets.

TN Lee, CEO of Pendle stated, “We’re excited to be working with various BTC yield protocols to unlock new opportunities for their s with Pendle. We’ve seen major use cases with fixed yield for ETH, and we’re aiming to replicate the same success with BTC as well.” 

Powered by Lombard, Corn’s LBTC will allow liquid BTC staking on Babylon which is a BTC-focused restaking infrastructure layer. Thus, when s deposit LBTC on Corn, they can participate in Corn’s pre-launch campaign, earn Kernels that can later be used for the $CORN airdrop.

Also Read: TON has Not Yet Arrived for a Bullish Run

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Ritu Lavania
Written by Ritu Lavania

Ritu Lavania is a versatile Web3 content creator with over three years of experience in the crypto space. She is part of the team at CryptoNewsZ, where she writes insightful and engaging content. She has also contributed to TheCryptoTimes and The Coin Edition, where her work has been well received by the crypto community. Skilled in research, creative writing, SEO, and cross-functional collaboration, she creates content tailored to diverse audiences. ionate about education, she dedicates time to teaching kids and expressing herself through poetry. Always eager to learn, she continuously explores new trends in blockchain and digital assets. She believes in the power of storytelling to make complex crypto topics more accessible and engaging for readers worldwide.