PENDLE is the token of the Pendle protocol. Pendle's core mechanism separates the principal entitlement and yield entitlement of a yield-bearing asset before a specified maturity date, enabling users to separately obtain or trade principal exposure and future-yield exposure; PENDLE is associated with the protocol's incentive arrangements and the buyback funds in fee distributions.

Pendle Price in USD Today, Live Market & Historical Trend Chart

Q: How does Pendle handle yield-bearing assets?

Pendle splits integrated yield-bearing assets into PT and YT by maturity date: PT corresponds to the principal component, while YT corresponds to the yield and related rewards generated before maturity. After the split, holders do not have to assume both types of exposure; for example, holding PT does not entitle the holder to the floating yield over that period, while the value of holding YT depends on the yield that can be generated before maturity.

Q: What is the difference between PT and YT?

PT is the principal token and YT is the yield token; both have the same preset maturity date. At or after maturity, PT can be redeemed for the principal component of the underlying asset according to protocol rules; yield and related rewards generated while holding PT do not belong to PT, but to YT. Therefore, PT and YT are not two assets making duplicate claims on the same cash flow, but a split between principal and yield during the term.

Q: What should I note when holding YT?

YT represents the yield component before maturity; holders must claim or accrue the corresponding yield during this term. At maturity, YT's value becomes zero because the yield period it represents has ended; therefore, YT is not a claim that can continue to be redeemed for principal after maturity. A shorter remaining term or changes in actual yield will both affect its economic meaning.

Q: How are protocol fees related to PENDLE?

Pendle's revenue sources include YT fees and PT swap fees. The protocol charges a 5% fee on yield accrued by YT, including points; PT swap fees are calculated dynamically based on the number of days remaining until maturity, namely “fee tier ÷ 365 × days to maturity,” so fees calculated using this formula are lower the closer the maturity date is. Of swap fees, 20% is allocated to the pool's liquidity providers; the remaining swap fees and all YT fees are distributed as 80% to PENDLE buyback funds, 10% to the protocol treasury, and 10% for protocol operations. The existence of buyback funds does not mean PENDLE holders automatically receive a fixed return.

Q: How is PENDLE's circulating supply defined?

Pendle's “circulating supply” uses a specific definition and is not simply the sum of balances at all addresses. The documentation states that this definition excludes PENDLE in staking contracts, the ecosystem fund, the governance multisig, and the team multisig; therefore, circulating supply is not the same metric as issued supply or maximum supply. As disclosed in September 2024, team and investor tokens had completed vesting.

Q: What are PENDLE's emission arrangements?

Pendle's arrangement announced in September 2024 was weekly emissions of 216,076 PENDLE, with the weekly emission decreasing by 1.1% each week until April 2026; it was then planned to transition to a 2% annual incentive inflation rate. This statement reflects the plan and rules announced at that time and cannot substitute for checking subsequent governance adjustments or current actual emissions.

Rank 140

$1.560

-$0.075(-4.62%)

Market Cap

$270.48M

24h High

$1.642

24h Low

$1.514

24h Turnover

$117.38K

Total Supply

281.52M

Market Sentiment

Neutral

Price of Pendle (PENDLE) Today in USD

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The live price of Pendle (PENDLE) today is $1.560, with a 24h change of -4.62%. Over the same period, the low was $1.514, the high was $1.642, and the 24h trading volume was $117.38K. The current market cap is approximately $270.48M. It ranks #140 by market cap and accounts for +0.01% of the total crypto market cap. The all-time high was $7.500 (⁦2024-04-11⁩); the current price is -79.20% from the all-time high.

Pendle (PENDLE) Price History

7 Days
-15.63%
Low
$1.514
High
$1.859
30 Days
-26.44%
Low
$1.514
High
$2.238
90 Days
+15.21%
Low
$1.251
High
$2.795
1 Year
-43.66%
Low
$0.969
High
$2.984

Fear & Greed Index

0 Extreme Fear100 Extreme Greed

Yesterday: 25; Fear
Last Week: 34; Fear
Last Month: 59; Normal

The Fear & Greed Index is currently 28/100, in the Fear zone; change from yesterday: +3, from last week: -6, and from last month: -31. Lower values indicate more fearful sentiment, while higher values indicate more greedy sentiment. This does not represent price change.

Why Did Pendle (PENDLE) Fall in the Last 24 Hours?

Short-term conditions were weak, with technical signals and order-book structure providing context, but no clear fundamental event directly accounting for the move. Pendle’s longer-term narrative around tokenized future yields was not an evident short-term catalyst. The 4-hour moving averages were bearishly aligned, with an ADX of 46.02; the daily ADX was 35.43, indicating a relatively strong trend. RSI remained neutral across timeframes, and MACD showed no crossover signal. The single candle at 06:00 UTC on 2026-11-08 recorded volume of 2,105.8 units, a low level; the top-five-level bid-to-ask depth ratio was 0.76, slightly favoring sellers. Bids were concentrated near $1.609 and asks near $1.635, potentially forming support and resistance, respectively. Order concentration can change and is not, by itself, evidence of completed trades or capital flows.

About Pendle (PENDLE)

Pendle is an agreement that can carry out token future yield transactions on the AMM system. Its purpose is to allow users to obtain the assets generated by the yield, and have the opportunity to generate additional yield, lock the future yield in advance, and provide traders with the opportunity to directly contact the future yield flow without the need for basic collateral.

Use Cases and Features

PENDLE is the Pendle protocol token. For yield-bearing assets, Pendle separates principal and future yield into PT (principal token) and YT (yield token), allowing users to trade or position principal and yield risk across different maturities. A portion of YT fees and remaining swap fees is allocated to PENDLE buyback funds, the treasury, and operations; therefore, demand related to PENDLE is connected to protocol usage, fees, and incentive arrangements.

Supply and Issuance Mechanism

PENDLE’s circulating-supply definition excludes tokens held in addresses such as staking contracts, the ecosystem fund, governance multisigs, and team multisigs. Team and investor tokens had fully vested by September 2024; the plan at that time was to emit 216,076 tokens per week, decreasing by 1.1% weekly through April 2026, then shift to a 2% annual incentive inflation rate.

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Est.30-Day APR

0.28%

Fiat Exchange

PENDLE to USD$1.5490

PENDLE to RUB₽119.787

PENDLE to EUR€1.3547

PENDLE to BRLR$8.0038

PENDLE to INR₹147.861

PENDLE to AEDد.إ5.6887

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Pendle (PENDLE) Basics & Market Insights

Fundamentals

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What Is Pendle (PENDLE)? A Complete Guide to Yield Tokenization and DeFi Interest Rate MarketsBeginner

Market Analysis

BTC Breaks Through $64,000, RWA Outperforms the Market: Why Are ONDO and PENDLE Surging Together?Bitcoin rebounds 2.74% to surpass $64,000, with the RWA sector leading the market with a 24-hour gain of over 4%. Ondo, Pendle, and Sky all saw significant increases. This article analyzes the capital flows and fundamentals driving these leading projects.2026-07-10

stETH: Lido Liquid Staking Token in DeFi Applications on Pendle, Aave, and MorphoThis article breaks down the composite application logic of stETH in 2026 from three perspectives: mechanism, yield, and risk.2026-05-15

What Role Does Pendle Play as Wall Street Yields Move On-Chain?Pendle is one of the leading on-chain platforms for fixed-rate strategies, leveraged yield trading, and points amplification. In the previous cycle, Pendles widespread adoption was primarily fueled by points mining. Users increased their potential airdrop rewards by purchasing YT, which in turn drove demand for the protocol.2026-05-19

Frequently Asked Questions About Pendle (PENDLE)

What is PENDLE?

How does Pendle handle yield-bearing assets?

What is the difference between PT and YT?

What should I note when holding YT?

How are protocol fees related to PENDLE?

How is PENDLE's circulating supply defined?

What are PENDLE's emission arrangements?

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