Pendle TVL Surges to $8.31B, Overtakes Layer-1 Rivals
Pendle’s TVL hits $8.31B, tripling since April and surpassing Sui, Aptos, and Sei combined.

- Pendle TVL reaches $8.31B, up 3x since April.
- Surpasses combined TVL of Sui, Aptos, and Sei.
- Growth fueled by DeFi yield trading boom.
Pendle, the decentralized finance (DeFi) protocol specializing in yield trading, has reached a new milestone as its total value locked (TVL) hit $8.31 billion. This figure marks a threefold increase since April 2025, highlighting explosive growth in user adoption and capital inflows.
The surge in TVL has placed Pendle ahead of the combined TVL of major Layer-1 blockchains Sui, Aptos, and Sei. This leap underscores Pendle’s growing dominance in the DeFi sector, especially in the niche of yield tokenization.
Why Pendle Is Outpacing Competitors
Pendle TVL’s rapid climb is being driven by increasing interest in yield trading, where users lock assets to speculate or hedge on future yields. This innovative model has attracted both retail and institutional participants seeking higher returns in a volatile crypto market.
Additionally, Pendle’s integration with major liquidity providers and expansion across multiple chains has boosted its reach. By tapping into different ecosystems, the protocol has built a strong network effect, attracting more users and liquidity providers who see it as a safer and more lucrative option.
What’s Next for Pendle
With the $8.31B milestone achieved, analysts are watching to see if Pendle can sustain its momentum. The current DeFi climate is highly competitive, but Pendle’s growth trajectory suggests it could become a dominant fixture in yield-based DeFi strategies.
If user adoption continues at the current pace, Pendle could further widen its lead over Layer-1 competitors, potentially breaking into the top-tier rankings of all DeFi protocols by TVL.
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