PENDLE jumps 15% after a record daily trading volume of $158M: Is $2.8 next?

Pendle [PENDLE] generated $158M in volume on the 20th of October, marking the highest daily volume since last November. Among the top volume drivers, Ethereum led with $121.8M, while Monad and Plasm followed with $20.8M and $3.7M, respectively. Pendle is a yield-hunting platform, and the record annual traction shows renewed appetite for yield despite rising U.S. Treasury bond yields. For the unfamiliar, Pendle and broader DeFi platforms such as Aave are promising users rewards for their parked capital, directly competing with similar U.S. Treasury bills’ interest rates. Ideally, the rising bond yields should attract more investors to T-bills.

Source: AMBCrypto