On January 20, news broke that with the Pendle protocol officially launching a new staking and governance model, the PENDLE price showed clear signs of recovery, with the market refocusing on the key resistance level of $2.35. As of press time, PENDLE is trading at $2.07, up approximately 9% in the past 24 hours, indicating that after an earlier correction, bullish momentum is rebuilding.
From a price performance perspective, PENDLE has traded within a range of $1.86 to $2.31 over the past seven days. The weekly chart shows a slight decline, but the total increase over the past 30 days is nearly 9%, reflecting a gradual recovery of the medium-term trend. Alongside the price rebound, market activity has also increased, with 24-hour spot trading volume rising 34% to $63 million, suggesting that this rally is driven more by genuine participation rather than a short-term spike caused by low liquidity.
Derivative data also signals positive developments. Although overall derivative trading volume has slightly decreased, open interest has increased by nearly 10%, reaching approximately $45 million. This “volume contraction, open interest expansion” pattern often indicates traders are building new positions rather than taking profits and exiting, implying improved market expectations for the future.
The core factor driving this rebound is Pendle’s significant adjustment to its tokenomics model. On January 20, the protocol announced replacing vePENDLE with sPENDLE, introducing a more liquid staking scheme, removing the multi-year lock-up mechanism, and setting a 14-day exit period, while allowing instant redemption through fee payment. Under this new structure, protocol revenue will be used to buy back PENDLE and distribute to eligible sPENDLE holders. Additionally, the algorithmic issuance mechanism is expected to reduce token inflation by about 30%.
On the technical side, PENDLE has formed short-term support above $2, with Bollinger Bands continuing to narrow, indicating a compression of volatility. The RSI indicator has risen to a neutral zone. If the price can effectively break through the $2.30–$2.35 range, it could further test $2.60. Conversely, if it falls below $1.95, the upward structure will weaken. Currently, the market is waiting for a directional signal.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Ethereum Spot Volume Surges 72%, Traders Eye $2,600 Liquidity Gap
Abstract: Ethereum's perpetual futures show robust buying pressure, with 24h net taker volume at $5.5B and the highest 30-day average since July 2022. ETH tests $2,400 and eyes a liquidity zone at $2,475–$2,634 as EMAs rise; CVD sits around $12.6B with neutral funding, suggesting a near-term liquidity target in that range.
ETH perpetual futures show strong buying with $5.5B 24h net taker volume and a 30-day high; ETH tests $2,400, aiming for $2,475–$2,634 liquidity zone as EMAs rise; CVD ~ $12.6B, funding neutral.
GateNews33m ago
Gold and Silver Slip Slightly, Oil Rises; Bitcoin and Ethereum Volatility Indices Decline
Gate News message, April 23 — Gold prices fell to $4,731.95 per ounce with a daily decline of 0.18%, while silver dropped to $77.585 per ounce, down 0.13% intraday. Bitcoin volatility index (BVIX) stood at 43.64, declining 1.80%, and Ethereum volatility index (EVIX) reached 63.90, down 5.19%.
In
GateNews3h ago
Gate Daily Report (April 23): The U.S. government runs Bitcoin nodes; Tesla’s BTC holdings remain unchanged
Bitcoin (BTC) continues the rebound trend from the beginning of the week, trading at around $78,230 as of April 23. U.S. Pacific Command Commander Samuel Paparo said in a congressional hearing that the U.S. government operates Bitcoin nodes to conduct cybersecurity tests, but does not participate in mining. Tesla’s first-quarter Bitcoin holdings remain unchanged, and its digital-asset impairment loss is $173 million.
MarketWhisper3h ago
Probably Nothing” — But TOTAL2 Structure Points Higher, and These 5 Altcoins Could Lead the Rally
TOTAL2 continues to respect a long-term trendline, signaling underlying altcoin market strength.
Market sentiment remains muted, often a precursor to larger price expansions.
Select altcoins show strong fundamentals despite limited short-term price movement.
The wider altcoin market
CryptoNewsLand3h ago
Trump Confirms Iran Ceasefire Negotiations Have “No Timeline,” Bitcoin Reexamines $78k
On April 23, Bitcoin reclaimed above $78,000. On April 22, U.S. President Donald Trump, during an interview with Fox News reporter Martha MacCallum, confirmed that the U.S.-Iran ceasefire negotiations do not have a set timeline, and denied a report that the U.S. media outlet Axios cited the same day, which referred to a "3 to 5 day window period" attributed to U.S. officials.
MarketWhisper4h ago
Crypto Fear & Greed Index Rises to 46, Market Remains in Panic State
Crypto Fear & Greed Index rose to 46, maintaining a 'panic' state; up from 32 yesterday, which also indicated panic.
GateNews4h ago
