Reasons Why Pendle (PENDLE) Is Still Massively Undervalued – The $400 Trillion Opportunity Everyone Missed
Pendle keeps flying under the radar even though it’s building one of the most promising stories in DeFi. In a long X thread, Mesh.hl called PENDLE “criminally undervalued,” and when you look at the data, it’s easy to see why.
What you'll learn 👉
The Numbers That Stand Out
Pendle currently has $12.3 billion locked in the protocol, up an incredible 51% in just the last 30 days. That makes it the sixth largest DeFi protocol overall. Since launch, it has generated $38 billion in total trading volume and now pulls in about $72 million a year in fees.
Despite all that growth, its market cap is only around $1.25 billion. To put that in perspective, the Solana ecosystem has a similar amount of value locked but trades at a $136 billion market cap, roughly 100 times higher. Other networks like Polkadot, Starknet, and zkSync have even less value locked but are valued far higher. The gap is hard to ignore.
A $400 Trillion Market Waiting to Be Tapped
Pendle isn’t just another DeFi app. It’s designed to be the backbone of the $400 trillion traditional finance yield market. Here’s how it works: you deposit an earning asset, like staked Ethereum or lending tokens, and Pendle splits it into two parts: your original deposit and the future earnings.
This setup lets you sell your future earnings for instant cash or buy someone else’s yield if you think interest rates will rise. It’s a model traditional finance has used for decades, but crypto never had until now.
honestly, $PENDLE is criminally undervalued & i cannot stop thinking about it…
— Mesh.hl (@MeshClans) September 11, 2025
we are witnessing one of the most criminally undervalued assets in crypto & it is wild that more people are not talking about this.
been researching yield protocols recently & nothing comes close… pic.twitter.com/jsAkBjVgDZ
Rapid Platform Growth
Pendle’s core platform, Pendle v2, is already earning more fees than some entire blockchains. Its new margin trading platform, Boros, launched just a month ago and is already pulling in about $500,000 in annualized fees.
The team is also expanding to new blockchains and even traditional finance, with partnerships popping up every week. Integrations with Aave and Arbitrum reward programs are just a few recent examples.
The token side is equally strong. About 35% of all PENDLE tokens are locked for an average of 375 days. There are no venture capital or team tokens left to sell, and no new tokens are being created. That means any price increase now comes from real demand against a fixed supply.
Read Also: Analyst Shares Realistic Stellar (XLM) Price Prediction for the Coming Altseason
Why Analysts Are Bullish
Pendle’s co-founder recently celebrated the $12 billion TVL milestone with a reminder that “the job is not done.” Many analysts think PENDLE price could hit $5.72 by the end of 2025 and possibly $11 or more over time.
With institutional investors searching for yield, risk management tools, and fixed-rate products, Pendle’s infrastructure is exactly what they need.
The Bottom Line
While most of crypto chases memes and quick wins, Pendle is quietly building the financial plumbing for the next wave of institutional adoption.
With strong tokenomics, fast-growing partnerships, and a market cap that doesn’t reflect its true potential, PENDLE looks massively undervalued.
If the team keeps executing and big money starts flowing in, today’s $1.25 billion valuation could be just the starting point.
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