Pendle tokens are concentrated at the highest levels seven months after the Kinetiq-linked staking tokens launched under the Yield Tokenization Protocol.
Pendle tokens have increased by 19% over the last 24 hours, earning a strong 35% increase in one week. Pendle has increased 97% in the previous calendar year, and has increased 335% since the beginning of 2024.
Pendle Chart – Coingecko
Last week’s strong performance could be driven by the integration of Pendle with the high lipid ecosystem that created the breakout market in the form of Khype.
Kinetiq is HypereVM’s largest liquid staking protocol at Hyperliquid’s $987 million on TVL. This protocol uses an automated process to score and distribute deposited funds to high lipid validators. Khype is a receipt token that users receive in exchange for donating hype tokens to the protocol.
The strength of the general market may be contributing to the rally after ETH regains $4,000 per token today, between Defi Tokens and Ethereum-Adjacent Altcoins, particularly. Other defi Altcoins such as Aerodrome and Lido have also seen a surge in size, up 26% and 12% respectively.
Pendle was integrated with high lipids on July 30th, and the Khype market quickly surged to a total value of $177 million (TVL), becoming the sixth largest market in all of Pendles and the largest market not tied to stubcoin.
Pendle Market by TVL – Pendle
Khype Market also leads Pendle in daily volume, trading volumes of $67 million over the last 24 hours, barely ousting the Susde market with a volume of $66 million.
