What Pendle tokenizes
Pendle is a real-world-asset (RWA) / tokenization token, currently ranked 100th by market capitalization among the assets we track. Pendle sits in the real-world-asset category: it is part of the effort to bring off-chain value — Treasuries, credit, commodities, real estate — onto blockchains as tradeable tokens. The thesis is that traditional assets get cheaper and more programmable on-chain.
Pendle is a decentralized finance protocol that enables users to tokenize, trade, and manage yield-generating assets. It allows for the separation of asset ownership and yield generation, creating new opportunities for liquidity and investment.
How tokenized assets work
RWA tokens depend on a legal bridge: someone has to hold the underlying asset and honor the on-chain claim. That introduces counterparty and regulatory exposure that purely native crypto avoids.
Background & fundamentals
In sector terms it is most often filed under Ethereum (ETH) Token (ERC-20), Binance Coin (BNB) Token (BEP-20), and Avalanche (AVAX) Token.
Where Pendle sits in the market
With PENDLE near $1.85, Pendle carries a market capitalization of $312.96M. Around $34.70M changes hands across exchanges in a typical 24-hour window. That is a turnover of about 11.09% of the float — elevated, often a sign of narrative-driven trading.
Almost the entire PENDLE supply is already in circulation (~100.0% of the 258.4M cap), so future dilution is effectively off the table. PENDLE remains -75% beneath its all-time high of $7.52, the kind of gap that historically takes a full cycle or a fresh catalyst to close. Measured from its all-time low of $0.3936, PENDLE is up +370%.
What the price history shows
The tape currently reads 24-hour +8.38%, 7-day -9.17%, 30-day -25.44%, 1-year -41.40%. Across roughly the last 365 days of daily candles, PENDLE endured a peak-to-trough drawdown of about 83% before stabilizing.
Volatility profile
Recent action puts Pendle in the Extreme-volatility band — it is in a high-volatility regime — these are the conditions where outsized gains and losses both become more likely. Over the last 30 days the move totals -25.44%, a useful input for stop placement and position sizing.
How to evaluate an RWA token like Pendle
The honest checklist for PENDLE is short:
- Underlying assets — what real-world instruments back or relate to PENDLE, and their credit quality.
- Legal enforceability — whether the on-chain claim is actually backed by enforceable off-chain rights.
- Adoption — how much real capital and how many institutions are using the platform behind PENDLE.
This page pulls live market data, on-chain stats where available, exchange-by-exchange volume, and our forecast model into one view so you can work through those questions in a single place. None of it is investment advice — it is a structured starting point for your own research.
