There’s hardly any altcoin pumping in price right now in crypto, but PENDLE might be an exception. In fact, the PENDLE price pumped 12% today and over 25% on a monthly chart, now trading at $3.20.
So, what’s behind this pump and why is the PENDLE price pumping when almost everything else is down? Let’s find out.
What you'll learn 👉
What’s Driving PENDLE’s Price Surge
Crypto analyst ‘Dexu AI‘ posted a tweet on X that explains why PENDLE is going up. The analyst noticed that PENDLE is the only sector showing green in open interest on Binance. This means traders are opening more positions on PENDLE than closing them.
PENDLE also has the highest positive funding rates in its sector. When funding rates are positive, people holding long positions pay those with short positions. This usually means market sentiment is bullish.
Looking at the open interest (Binance) per sector, we observe the our sweet spot sector is the only sector in green.
— Dexu AI (@_dexuai) April 3, 2025
Looking more closely into the sector, we see a massive increase in OI on $PENDLE @pendle_fi (also highest positive funding rates in the sector).
Further… pic.twitter.com/jeHMxZDKPo
Binance whales are betting big on PENDLE despite the current bear market. Several things are making PENDLE attractive right now. It was recently listed on Coinbase, which typically brings more exposure. PENDLE is also expanding to Berachain and going live on Sonic.
The project offers many stable yield options through products like sUSDa and slvlUSD. Institutional players like Fasanara Digital are getting involved too. Many people on crypto Twitter are talking about PENDLE’s connection to HyperEVM, with team member @tn_pendle making progress on new developments.
Big Money Moves Into PENDLE
Onchain Lens reported some major whale activity around PENDLE. In the last three days, a whale spent over 1,016 ETH (about $1.86 million) buying 607,863 PENDLE tokens at around $3 each.
This whale sold 281.21 billion PEPE tokens for 1,060.53 ETH to fund these purchases. They might buy even more PENDLE soon.
When someone buys this much of a token in a short time, it creates strong buying pressure. This likely helped push PENDLE’s price up. As the whale keeps buying, the price might continue to rise, especially when most other crypto assets are falling.
In the last 3 days, a $PEPE whale has spent 1,016.4 $ETH ($1.86M) to buy 607,863 $PENDLE at a price of $3 each.
— Onchain Lens (@OnchainLens) April 4, 2025
The whale has sold 281.21B $PEPE for 1,060.53 $ETH to buy the $PENDLE and likely to buy more.
Address: 0x373704e394ef150241aee836115d78aba3fc5c76
Data @nansen_ai pic.twitter.com/lAAXWOXV49
Based on current momentum, PENDLE might keep pushing higher in the short term. The recent whale buying and positive fundamentals could take it to test the $3.50 mark soon.
If market sentiment improves, the PENDLE price could potentially reach $4 in the coming weeks. This is especially possible if the whale continues buying or if more institutional players get involved. However, if Bitcoin takes another dive, PENDLE might struggle to hold its gains. Support levels around $2.80 and $2.50 will be important to watch if sellers step in.
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
