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PENDLE token goes live on BeraChain and HyperEVM to expand cross-chain utility

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Cryptocoins News / CoinJournal 1 day ago 14 Views

  • The coin has expanded its presence beyond Ethereum.
  • Users can now enjoy streamlined cross-chain swaps through Stargate Finance.
  • Pendle boasts the highest positive sentiment in all DeFi coins in the past seven days.

Digital tokens painted price charts red on Wednesday as markets brace for the Fed’s rate policy.

Pendle extended its weekly losses to over 6% after losing 2% in the past 24 hours.

Intensified profit-booking after the recent growth contributes to PENDLE’s weakness.

However, the altcoin appears poised for a significant rebound as bullish catalysts emerge.

The team has confirmed that PENDLE is officially live on HyperEVM and BeraChain.

It represents a key step in Pendle’s multi-chain ambitions as it aims to push boundaries in decentralized finance (DeFi) yield trading.

Meanwhile, the expansion comes as the altcoin experiences bullish sentiments.

Data show PENDLE had the highest positive sentiments across all DeFi currencies over the past week.

With more individuals exploring Pendle, is a significant breakout on the horizon?

Pendle smoothens cross-chain access

The best thing about this development is the Stargate Finance integration.

It allows users to bridge between Ethereum, HyperEVM, and BeraChain smoothly.

That means users can access Pendle’s flourishing ecosystem regardless of their chain.

Moreover, the integration promises less friction, faster access, and fewer fees.

This is a game-changer for investors and DeFi enthusiasts.

Stargate’s bridge promises smoother capital flow across chains to solve one of the primary bottlenecks in DeFi &- interoperability.

Furthermore, the move unlocks more utility for the PENDLE token in new liquidity hubs as HyperEVM and BeraChain protocols navigate Pendle’s yield markets.

Positive sentiments dominate the Pendle ecosystem

Multiple tracking platforms show PENDLE was the most positively discussed DeFi project over the past week.

It is beyond price actions.

The trend reflects the depth and tone of conversations about Pendle on crypto forums and social platforms like X and Telegram groups.

Such sentiments often indicate market direction.

It shows smart money watching the assets and possibly repositioning before bullish catalysts surface.

Rising bullish chatter and listing on new platforms shows Pendle is attracting attention and confidence as it solidifies its presence in the DeFi industry.

PENDLE price outlook

The altcoin traded in red, losing over 2% in the past 24 hours.

PENDLE hovers at $4.37, with a weakening trading volume reflecting dominant bearish tendencies in the broad market.

Also, it experienced considerable profit-taking after the latest rally from $3.2633 on 4 June to last week’s $4.8747.

Nonetheless, PENDLE hasn’t ruined its bullish structure. It trades well above the key support barriers of $3.60 and $2.80.

Continued declines to these levels could catalyze massive buying interest, if history repeats itself.

Bullish bounce-backs may clear the path for stable rallies toward $5.20 before extending to the psychological barrier at $7.

That would be an approximately 60% increase from PENDLE’s market price.

However, the $6.0 &- $6.5 region will be a vital breakout area.

A decisive weekly closing above this zone could trigger intensified buying and propel PENDLE to the target at $12.0 &- $14.

The post PENDLE token goes live on BeraChain and HyperEVM to expand cross-chain utility appeared first on CoinJournal.


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