Spartan Group research report: It is expected that Pendle's TVL will reach 20 billion USD, and its valuation may exceed 6 billion USD.

BlockBeats News, on May 21, investment institution Spartan Group released a research report saying that the Pendle platform supports yield trading and is one of the biggest beneficiaries of the era of stablecoin expansion. Of the $11 billion in profitable stablecoins in circulation, 30% (more than $3 billion in assets) are held in Pendle, accounting for 1.3% of the total stablecoin supply. The protocol splits yield assets into cost tokens and yield tokens, and participants can choose to lock in fixed income, or speculate on yield fluctuations. The Pendle platform is huge: · Total value locked (TVL) of $4 billion, of which 83% came from stable assets· Cumulative trading volume of about $50 billion · With annualized revenues between $35 million and $40 million (90-100 basis points of lock-up value), the next 18 to 24 months are expected to see significant growth in the era of stablecoin expansion. Stablecoin issuance is expected to double to $500 billion, with profitable stablecoins accounting for 15% of that amount, or $75 billion (a seven-fold increase from the current $11 billion). Pendle is expected to account for 25% of all revenue stablecoins, achieve $20 billion in TVL, and earn $200 million in protocol fees. At a 30x valuation, this would correspond to a $6 billion market capitalization of the agreement. As a yield liquidity hub, Pendle attracts a significant share of the yield-based stablecoin market, and its success is independent of the market dominance of a particular issuer. Pendle has become a pure and indicative choice for investing in the era of stablecoin expansion.