A friend just sent me a screenshot: Pendle had $73.47 million in trading volume in one day, ranking 25th among DEXs. His first reaction was to ask: Is $PENDLE about to take off?
My view is a bit more cautious: trading volume has risen to 2.5 times its usual level, which does show that interest is picking up, and the protocol may be earning more in fees. But trading volume and token price don’t necessarily move in sync, so I’d personally watch it for a few days before drawing any conclusions.
#PENDLE
My view is a bit more cautious: trading volume has risen to 2.5 times its usual level, which does show that interest is picking up, and the protocol may be earning more in fees. But trading volume and token price don’t necessarily move in sync, so I’d personally watch it for a few days before drawing any conclusions.
#PENDLE