Technical analysis by moonypto about Symbol PENDLE: Buy recommendation (5/17/2025)

We focus on projects with solid fundamentals typically those already generating revenue or on the verge of monetization or ones that could turn to lambos! Pendle, a yield derivatives platform, is doing just that raising its take rate from 3% to 5%. This move sends a strong signal. Wen a platform raises fees, it often reflects pricing power and underlying market strength. Still, before diving deeper, we look for signs that the project merits attention starting with current revenue performancePendle is currently pulling in around $ 20 million in annualized revenue. Honestly, that’s pretty solid. Numbers like that would easily rank it among the top 20 protocols in the entire crypto space. So, Pendle has quickly become a project that's too interesting and relevant for us to ignore any longer. Oh, and here’s one more thing that makes Pendle stand out…If you hold their token $ PENDLE and lock it up, you get a cut of the protocol’s revenue kind of like earning dividends. But don’t expect the usual boring 4-5% dividends you see with traditional stocks. In 2024, they’ve delivered a massive 40% payout. Yes, you read that right!And it gets better. They’ve recently made a smart move: rewards are now paid out in stablecoins instead of $ PENDLE tokens, which could mean less selling pressure on the token. When you see this many updates and bullish signals backed by solid fundamentals, there’s zero chance we’re not taking a closer look. But there's always more to the story. So let’s find out what’s really going on:We always start with the team because it’s one of the most crucial ingredients behind any successful startup.The team is the engine that drives the project forward, especially in the early days. You want to make sure they have the skills to actually pull it off and that they’re committed for the long run, not just here to cash out and vanishPendle launched in 2021, created by TN Lee, Vu Nguyen, and two anonymous developers known as GT and YK. Let’s quickly introduce the two known founders and take a look at their backgrounds. Before starting Pendle, TN Lee now the CEO was leading Business Development at Kyber Network, a decentralized exchange aggregator. His background in DeFi and blockchain from Kyber played a key role in building Pendle’s unique approach to yield tokenization and trading.Vu Nguyen, Pendle’s Chief Engineer, is a three-time Math Olympiad gold medalist who graduated with a degree in Computer Science from Singapore. He previously developed smart contracts at Digix, a project that focused on gold tokenization. Both founders have been active in the space for years, contributing to other projects long before launching Pendle, so they’re definitely not new to the game.What’s interesting is that one of them comes from a BD/Sales background something you don’t see often in crypto founders. And honestly, that’s an underrated skill when it comes to growing and scaling a product.True, they don’t come from the traditional finance (TradFi) world which some might expect for a project like this, but even without that we feel pretty good about what these two bring to the table.Plus as we’ll see later they don’t have any vested tokens left, yet they’re still here, building and shipping. That says a lot about their commitment. Alright, let’s take a look at the size of the market Pendle is going after.When it comes to traditional finance, interest rate derivatives are some of the biggest beasts in the game. And that’s exactly what Pendle is bringing onchain.This market is absolutely massive. It's estimated to see $400 to $500 trillion in trading volume every yearSo when you stack that next to Pendle’s $ 36B in 2024, it’s clear they’ve only scratched the surface. The upside here is huge. But it’s not just the volume that’s impressive it’s the growth that really stands out. In 2024, Pendle’s trading volume grew by a staggering 90x compared to 2023. That kind of explosive growth doesn’t happen by accident. It’s a strong signal that more users are using their products24 hour trading volume is $ 62 million dollar now and market cap of $ 635 million dollar. It has a circulating supply of 162,252,302 PENDLE coins . lets check the chart, as you seewe just broke super important 3.3$ resistance and looking at BTC mood to hit 4.3 and 4.7$