It was a net positive weekend for the cryptocurrency market as Bitcoin, Ether, and other major coins recorded excellent gains. Bitcoin surged to the $122k mark and is now closing in on its all-time high price of $123k. Meanwhile, Ether added 20% to its value over the last seven days and now trades above $4,300 per coin. Other altcoins also recorded excellent gains over the last few days. PENDLE is another coin that rallied higher as it added 35% to its value in the last seven days. The coin is now looking to hit a new yearly high, with its all-time high price still 25% away. Pendle’s TVL hits a record $8.5 billion PENDLE, the native coin of the Pendle ecosystem, performed positively over the weekend. The coin rallied to a 2025 high of $6.014 before retracing to trade below $5.5. The positive performance comes after Pendle’s total value locked (TVL) reached a record $8.5 billion. The surge in its TVL is thanks to Pendle’s recently launched Boros platform. The new yield-trading platform, Boros, allows traders to go long or short on funding rates. Boros has attracted significant deposits and activity since its launch. According to Dune, Bitcoin’s funding rates averaged about 10% annualised this week and roughly $80 billion in open interest, resulting in more than $8 billion changing hands yearly between longs and shorts. This opens up a big market potential for Boros, resulting in Pendle’s TVL hitting a new all-time high. According to TheTie, activity on Pendle’s Arbitrum deployment has surged since the Boros launch, with active addresses reaching 1,428, well above the monthly average. PENDLE eyes a new 2025 high of $6.5 The PENDLE/USD 4-hour chart is bullish and efficient thanks to the coin’s rally over the past few days. The technical indicators are bullish but suggest that PENDLE could soar higher in the near term. Its Relative Strength Index of 74 shows that PENDLE is not yet in the overbought region, suggesting that investors are still bullish on the coin. The MACD lines are also within the positive territory, indicating a bullish bias. PENDLE has swiftly retraced below $5.5 after hitting a new yearly high of $6.014 a few hours ago. However, the coin could be sweeping the Transactional Liquidity (TLQ) at $5.3 before rallying higher. If the rally continues, PENDLE could hit a new 2025 high of $6.5 over the next few hours or days. An extended rally would allow it to come close to the all-time high price of $7.52 it set last year. However, if the market undergoes a correction, PENDLE could drop lower in the coming hours. If the TLQ at $5.3 fails to hold, PENDL could drop to the next major resistance level around $4.58. The post PENDLE eyes a new yearly high as TVL hits $8.5B: check forecast appeared first on Invezz
