Pendle's TVL fluctuated over the last 12 months, following the trend of the ETH price.

The metric has fallen 34% from a peak of $6.7 billion in June last year to $4.4 billion on June 1, 2025. However, the trading volume has seen strong growth, surging by 186% in the last 12 months.

Pendle's TVL fluctuated over the last 12 months, following the trend of the ETH price.

The metric has fallen 34% from a peak of $6.7 billion in June last year to $4.4 billion on June 1, 2025. However, the trading volume has seen strong growth, surging by 186% in the last 12 months.

https://crypto.com/en/research/interest-rate-derivatives-pendle-may-2025