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PENDLE token price soars 53%, ATH at $7.5 in view after Ethena (USDe) partnership

  • PENDLE token price is surging following the Ethena (USDe) partnership.
  • Technical analysis points to $7.80 as the next target with potential for double-digit prices.
  • A breakout above the key support at $5.23 opens the door to retest the $7.50 ATH.

The PENDLE token has been on a remarkable upward trajectory in recent weeks, gaining over 53% in the past month and surging 21.6% in the last 24 hours alone.

Market momentum has intensified following the announcement of a strategic partnership between Pendle Finance and Ethena, integrating the rapidly growing USDe stable asset into Pendle’s yield-generating ecosystem on HyperEVM.

This collaboration, combined with strong technical signals, could set the stage for the token to retest its all-time high of $7.50 and potentially break into double-digit territory.

Ethena integration fuels a powerful looping strategy

The heart of the bullish sentiment lies in the innovative “looping” strategy enabled by the partnership.

Pendle’s unique model splits assets into Principal Tokens (PT) and Yield Tokens (YT).

With USDe now integrated, users can buy PT with USDe to lock in fixed yields, then borrow USDC against these PTs on Aave. The borrowed USDC can be used to acquire more USDe, allowing the process to repeat.

This cycle has proven lucrative as PT yields currently average 8.8% above Aave’s borrowing costs, which range between 4% and 6%. Aave earns 10% of the borrowing fees, while Pendle charges a 5% fee on PTs.

Importantly, $4.3B (60% of total USDe) has been locked in Pendle and $3B deposited in Aave, underscoring the depth of this integration.

In addition, Pendle’s TVL is heavily concentrated in Ethena’s USDe market, accounting for approximately 60% of the entire protocol’s TVL.

To reduce liquidation risks, the Aave DAO has pegged USDe to USDT’s value, adding a layer of stability to the strategy.

However, profitability depends on PT yields staying above borrowing costs. If yields fall, the strategy’s appeal could weaken.

The potential for further expansion will also hinge on whether Aave increases its collateral caps, which would allow for greater participation in the loop.

Whale moves $4.65M worth of PENDLE tokens

Adding to the bullish environment, on-chain data revealed that a multisignature wallet linked to Pendle deposited 900,000 PENDLE — worth roughly $4.65 million — into Binance.

While the Pendle team has not disclosed the reason, market observers suggest the move could be aimed at enhancing liquidity, supporting market-making, or preparing for strategic expansion.

Within 24 hours of the transfer, PENDLE’s price jumped 27.2%, reflecting investor optimism.

Such movements highlight the importance of tracking blockchain activity, as large transfers often precede major announcements or market shifts. However, they can also increase short-term volatility.

PENDLE token price analysis points to higher targets

From a technical perspective, the PENDLE token has reclaimed the mid-range of its long-term trading structure, broken above a key resistance trendline, and retested it as support.

Indicators such as the Relative Strength Index (RSI) and the Moving Average Convergence/Divergence (MACD) remain positive, signalling that bullish momentum is intact.

Going by market analysis from popular analysts, $5.23 is a critical support level that PENDLE must hold. Additionally, a move above $5.53 could open the path toward $5.77, with $6.30 as the next resistance.

Furthermore, the wave count pattern points to a powerful third sub-wave in progress, with an initial target at $7.80, which is 1.61 times the length of the first wave.

Notably, a breakout above the 2025 high would likely accelerate the climb toward new all-time highs and possibly double-digit prices.

With strong fundamentals from the Ethena partnership, a surging TVL, favourable technical patterns, and heightened market interest, PENDLE token appears well-positioned for further growth.

The post PENDLE token price soars 53%, ATH at $7.5 in view after Ethena (USDe) partnership appeared first on CoinJournal.

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Why Bitcoin Penguins is one of the best altcoins to invest in as presale gains momentum

  • BPENGU has raised $2.2M in presale so far, with listing set for September 2.
  • BPENGU combines Bitcoin’s value with penguin meme appeal.
  • ETH surge, with altcoin season boosting penguin token hype.

Bitcoin Penguins has been generating buzz in the investing community as one of the best altcoins to invest in due to its narrative and its tokenomics.

Bitcoin Penguins (BPENGU) combines two of the most potent forces in crypto: Bitcoin’s “digital gold” narrative and the viral meme power of penguin-themed tokens.

Supporters believe this pairing could create a new growth wave, positioning BPENGU as the next dominant player in the meme coin sector.

The “next PENGU” is here?

Promoters of BPENGU are framing the project as the natural evolution of the penguin meme coin trend.

The pitch is straightforward: take the proven appeal of Pudgy Penguins’ branding and fuse it with the perceived stability and prestige of Bitcoin.

The result is “cute meets cash” or “meme meets money.”

The project’s backstory is rooted in observing PENGU’s rapid ascent and identifying a gap for a Bitcoin-backed version.

The total BPENGU supply is 10 billion tokens, with 55% allocated to presale buyers, 20% for staking, and smaller portions for liquidity, cold storage, NFT giveaways, charity, and the team.

Presale stages last two days each, incentivising rapid participation.

BPENGU’s presale features a 15-stage structure, with token prices rising 5% at each stage. The token’s presale will run till August 27, with the listing date fixed on September 2.

BPENGU’s presale has already shown signs of strong demand, with the token raising $2.2 million so far.

The team has confirmed a decentralised exchange listing for 2 September, just 72 hours after the presale closes.

The launch timing plays into broader market trends. Bitcoin is trading with strong momentum, altcoin sentiment is recovering, and interest in penguin-themed tokens remains high.

Supporters believe these conditions create a favourable setup for BPENGU’s debut.

Ethereum momentum adds to altcoin narrative

The penguin token boom is unfolding against a backdrop of strong price action for Ethereum.

ETH surged past $3,900 on Friday, hitting $3,952 before easing to around $3,909.

The rally has been driven by record institutional inflows into ETH-focused treasuries and exchange-traded funds, alongside large-scale corporate allocations.

SharpLink Gaming recently announced a $200 million stock offering to expand its Ethereum treasury, potentially pushing its holdings above $2 billion.

Fundamental Global has also filed a $5 billion shelf registration with the SEC to build its own ETH reserve.

Public companies collectively hold over 1.74 million ETH, valued at nearly $6.9 billion.

Industry figures, including Ethereum co-founder Vitalik Buterin, have noted the potential benefits of corporate ETH treasuries, while also flagging possible liquidation risks.

The surge in institutional interest in Ethereum provides a supportive macro backdrop for the broader altcoin market, potentially bolstering appetite for high-growth meme projects like BPENGU.

Altcoin season and Penguin token momentum

The BPENGU launch comes as traders debate whether the next phase of the altcoin season is approaching.

In recent months, penguin-themed tokens have been among the strongest performers in this environment.

The roadmap includes ambitious goals: targeting a $50 million fully diluted valuation (FDV) in September, $1 billion FDV by October, and a long-term vision that extends to global brand partnerships and even penguin-themed consumer products.

With Pudgy Penguins setting the stage and Bitcoin Penguins entering with a Bitcoin-powered model, the penguin narrative appears far from over.

 

The post Why Bitcoin Penguins is one of the best altcoins to invest in as presale gains momentum appeared first on CoinJournal.