According to industry news, on June 16, financial analysis experts Keno and Cheezzyy jointly released a research report indicating that with the GENIUS Act providing a clear framework for stablecoin regulation, the market is entering an accelerated development phase. Citi's analysis shows that the stablecoin sector is expected to maintain a 45% annual compound growth rate.

In this trend, the DeFi protocol Pendle is gradually becoming an important player in the stablecoin yield sector. Data shows that Pendle currently holds about 30% of the stablecoin yield market share, with the proportion of stablecoin assets in its locked value exceeding 80%. The protocol innovatively implements a "yield tokenization" mechanism, breaking down yield-bearing assets into principal tokens (PT) and yield tokens (YT), allowing users to lock in fixed returns and effectively manage the risks brought by interest rate fluctuations.

It is worth noting that Pendle has become a key platform for multiple blockchain projects to attract traffic and motivate users. With the continuous advancement of cooperation programs such as Boros and Citadel, Pendle's service scope and profitability are expected to be further expanded. Industry insiders believe that Pendle's annual revenue is expected to reach $100 million, but the current market attention to it is still relatively limited.

According to a professional analysis model, based on 80% of the projected revenue, using a 25x P/E ratio, combined with an expected circulating supply of about 170 million tokens, the target price of the PENDLE token can reach $11. The other valuation model gives a reasonable valuation range of $8. This shows that the protocol has great development space and investment value in the stablecoin ecosystem.