crypto is highly volatile as boring as it sounds, one of your safest bets is earning fixed yields on stablecoin assets. @pendle_fi controls about 55% of the yield market with $6B TVL out of $10.75B. 2 main reasons why i’m perma-bullish on pendle: 1. fundamentals: pendle’s tvl is up 22% from july 2 while price increased 46% to $4.82 this is one indicator price might just be catching up to fundamentals for context: back in dec 2024, $pendle hit $7 at $4.9B tvl 2. positioning: pendle is built to attract 2 major sides of the yield market > whales looking for safety > institutions looking for yields one major player in this is @ethena_labs. they are currently the biggest contributors to pendle’s tvl with >$3.5B supplied. ➣ now, ethena announced @stablecoin_x which is set to purchase $260M worth of $ENA to give more exposure to the tradfi stock markets by listing under nasdaq as the ticker USDE. ➣ this $ENA can be used to earn more yields in defi farms such as…pendle. my prediction: ↓ ↓ ↓ > with this, more huge players will look for yields in sUSDe (staked ethena USD) & tUSDe (ethena’s stablecoin asset from @Terminal_fi) this automatically increases pendle’s potential. ➝ tldr: pendle is the #1 leader in the yield category & it’s value (& that of ethena) isn’t priced in yet. i’ll end with @ayyyeandy favorite line: return to fundamentals. (data from @DefiLlama)