PENDLE price breaks above $5 as volume spikes 35%

Pendle price jumped more than 5% to break above the $5 level amid a notable surge in daily volume, and marched to a new all-time high in total value locked.

With top cryptocurrencies taking a cue from broader risk asset markets on Thursday amid fresh U.S. inflation data, Pendle surged to an intraday high of $5.10. The altcoin’s price rose 5.8% in 24 hours as of this writing and trended as one of the top performers in the crypto market.

As buyers accumulated the native token of the crypto yield trading platform, the price jumped from lows of $4.76 to above $5.10, extending the bounce that stemmed the downtrend from the Aug. 24 high of $6.29.

PENDLE chart. Source: crypto.news

Pendle ( PENDLE ) hovering between $4.73 and $5.12 means buyers have the opportunity to establish this as a robust demand zone. Bulls may eye the all-time high of $7.50 reached in April 2024, a move possibly supported as intraday trading volume spikes.

On Sept. 11, buying pressure saw the 24-hour trading volume rise more than 35% to $110 million.

Pendle TVL hits new peak

Amid the price fluctuation, Pendle’s traction in the decentralized finance ecosystem continued as total value locked in DeFi hit a new all-time high above $12.1 billion. Pendle TVL stood at $4.81 billion on July 1, 2025, suggesting a near-double jump in the past two months, with the price rebounding from around $3.24.

The broader market’s outlook, dictated by a confluence of macroeconomic factors and fundamental highlights, has helped PENDLE.

While macro factors such as tariffs and interest rate expectations have provided a backdrop to price fluctuations for risk assets, other factors such as institutional demand, stablecoin adoption, and crypto regulatory developments have been key to altcoins’ resilience .

Price spikes amid high-volume trading signal rising interest, and data from Coinglass show open interest in Pendle has jumped to $143 million.