- The protocol’s TVL reached $7.02 billion today.
- Upcoming developments such as Boros, HyperEVM and Converge point to continued growth.
- PENDLE’s price has turned bullish after an 8% rally.
The tokenization platform Pendle hit a new all-time high in total value locked (TVL) today, reaching $7.021 billion.
This surpasses June 2024’s previous peak of $7.013 billion.
The timing could not be better.
The TVL milestone arrives as Pendle prepares for several important launches in the coming weeks and months, including HyperEVM expansion, the Boros release and the Converge launch.
At the same time, the rise in total value locked signals increased capital inflows and renewed user confidence in Pendle’s yield-trading mechanics, particularly in the wake of recent stablecoin regulation.
Digital tokens backed by real-world assets have seen rising demand since the U.S. enacted the GENIUS Act.
This article evaluates what to expect as the protocol rolls out its key catalysts.
HyperEVM expansion fuels bullish momentum
Pendle has remained on the crypto community’s radar as it prepares to integrate with HyperEVM.
Speculation suggests this fast-growing, highly active EVM-compatible chain could go live as early as this week.
HyperEVM will improve cross-chain interoperability for the protocol and open access to new user segments.
The upcoming product is more than a given Layer 1 or Layer 2 — HyperEVM aims to usher in the next generation of DeFi applications.
An early Pendle integration would boost its appeal for partnerships, increase user activity, and create new markets that expand liquidity.
The team launched Hyperwavefi on July 23 to prepare for the HyperEVM rollout.
As if we needed more proof that HyperEVM is the best place to build…but here it is:
Pendle launched their hwHLP @Hyperwavefi Market just two days ago and it already has $7.93 Million in TVL
Doing $1.5 Million in 24h Volume
In just two Days HyperEVM already has more TVL on… pic.twitter.com/fUDpETpHLD— Tobias Reisner (@reisnertobias) July 26, 2025
Boros set to unlock a new instrument
Another catalyst positioning PENDLE for further expansion is the upcoming Boros product.
Although specifics remain limited, Boros intends to significantly expand the ecosystem’s total addressable market and introduce a new tool for yield-bearing assets.
Some suggest it will enable traders to trade funding rates without using perpetuals, offering a way to lock in fixed rates.
The product is slated for release in August and could solidify Pendle’s value proposition by attracting more capital and users.
$Pendle HyperEVM this week, Boros in August
ATH TVL $7 Bil
Number 1 in all of crypto for last 30 days fees growth (438% increase)
Holders (vePendle) revenue mooning
Bread to the $ENA butter
Direct beneficiary of Ethereum stablecoin narrative & the now passed Genius act. pic.twitter.com/OPKZ4mbREa
— Big Ninjah (@BigNinjah) July 28, 2025
Converge partnership adds momentum
Pendle is one of the primary partners on the forthcoming Converge platform, signaling a deeper connection to modular DeFi protocols.
The tokenization platform will help unlock yield trading across multiple dollar-denominated assets.
The partnership underscores Pendle’s commitment to on-chain finance and is likely to drive greater blockchain usage and visibility, benefiting PENDLE holders.
According to Converge:
Tokenized assets need predictable, liquid and composable yield pathways. By building on Converge, Pendle brings fixed-rate products, yield hedging and liquidity strategies to tokenized securities and dollar instruments at institutional quality.
These upcoming launches, stablecoin-driven growth and protocol expansion are likely to catalyze additional growth for Pendle in the near term.
PENDLE price outlook
The altcoin trades at $4.72 following an impressive performance over the past 24 hours.
Clearing the critical resistance zone between $4.80 and $4.90 could open the door to substantial gains toward $9.
PENDLE is trading above the 50- and 100-period exponential moving averages on the daily chart, signaling upward momentum.
Positive broad market sentiment combined with the upcoming Pendle catalysts positions the altcoin for notable growth in the coming weeks and months.