Can Pendle Price Hit $10 Amid Launch of Trump’s New RWA DeFi Project

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As a seasoned researcher with years of experience in the crypto market, I must say that the recent surge in Pendle price is indeed intriguing. Having witnessed numerous bull and bear runs, I can recognize the signs of a potential breakout, as Pendle seems to be regaining its momentum after a prolonged correction period.

For the last seven days, the value of Pendle has consistently risen, making it the top-performing token in the real-world asset (RWA) sector. In just a week, PENDLE experienced an impressive increase of 27%, boosting its market capitalization to $547 million. This growth comes after a significant decline of approximately 74% over nearly three months, from May to August. Will Pendle be able to stand strong amidst the launch of Donald Trump’s upcoming RWA-centered decentralized finance project?

Can Pendle Price Compete with Trump’s World Liberty Finance (WLFI)?

As Pendle’s price attempts to reclaim its former grandeur, Donald Trump unveiled his intentions to debut ‘World Liberty Financial,’ a decentralized financial system, on September 16 at 8:00 p.m UTC.

.@worldlibertyfi

— Donald J. Trump (@realDonaldTrump) August 29, 2024

Trump plans to move away from traditional, slow, and outdated banking systems towards cryptocurrencies. As per Eric Trump, the World Liberty Financial (WLFI) initiative is centered around digital property, which could quickly position it within the real-world asset tokenization industry.

Based on data from CoinGecko, the rapidly expanding RWA tokenization sector is presently valued at approximately $6 billion, and many of its tokens, like Pendle, have been doing quite well over the past week.

Will New BTC Staking Feature Help Against WLFI?

Apart from serving as the 45th president of the United States, Donald Trump is renowned for his impressive business and financial skills that have significantly increased his net worth to an astounding $7.5 billion. According to Bloomberg’s list, this places him among the top 500 wealthiest individuals worldwide.

Investors are wondering if WLFI could match the exceptional past performance of meme coins linked to Trump, as they ponder over its potential growth.

In simple terms, Pendle ranks third among RWA coins in terms of market capitalization, as indicated by CoinGecko. The platform is recognized for its advanced strategies that boost yields for ERC-20 tokens, and it has recently launched Bitcoin (BTC) pools to extend the same yield benefits to BTC holders.

Is a high Annual Percentage Yield (APY) of up to 12% for Pendle’s PT lock-in attractive, with potential for further growth? However, given the entry of new competitors into the market, will this be enough to sustain Pendle’s momentum? Currently, the price of Pendle has decreased by 1.9% over the past 24 hours and is being traded at $3.45.

PENDLE Technical Analysis: 174% Surge In Play

In simpler terms, the price of Pendle appears primed for a significant surge based on its historical patterns following a lengthy downtrend. Reaching $7.5 in April, it subsequently formed a double peak and plummeted approximately 74%, down to $2.

Despite a recent resurgence in the Real-World Asset (RWA) sector, the value of Pendle has enjoyed a prosperous week. It surged by 27% from its lowest annual mark and is now aiming for fresh record highs.

The PENDLE chart indicates the start of a correcting trend. Over the past five weeks, candlestick analysis suggests a possible double bottom is emerging. If this pattern concludes, it might propel the asset back towards its yearly highs again.

Despite a need for Pendle to initially surmount immediate resistance levels at around $3.5, another potential hurdle lies near $4.00. This previously supportive level has now transformed into resistance, and it may serve as the next substantial obstacle that Pendle must conquer to continue climbing higher.

Can Pendle Price Hit $10 Amid Launch of Trump’s New RWA DeFi Project

If PENDLE doesn’t manage to surpass its current $3.5 resistance level, this might suggest a weakening market trend. In such a case, PENDLE might slide down towards the next support at $2.00. Should selling pressure continue, it could potentially fall further to $1.00.

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2024-09-13 08:32