🔥 Pendle's lock-up volume increased by 470% month-on-month to break 3.4 billion!The currency price broke $5 and hit a record high (1/2)

Recently, with the issuance of new coins by Etherfi, ETHFI once exceeded $8, and the market found that through the operation of YT (Yield Token) on the Pendle platform, it can achieve very efficient returns, in addition to the points added by Etherfi, you can also get Eigenlayer points, so the price of YT tokens on the platform has grown significantly.

However, due to its nature, YT will tend to zero in value as the maturity date approaches. As a result, buyers of YT are actually betting that the value of the airdrop on protocols such as EigenLayer and Ether.fi will exceed the cost of ETH invested in the purchase of YT, so investors are still at risk of losing money if the airdrop is not as expected.

Not only that, YT operated with leverage can be converted to mainstream cryptocurrencies such as ETH and USDC at any time, so as to achieve a rapid exit of funds. This feature is relatively convenient for many projects that need to deposit funds to obtain future airdrops under market conditions.

As the market's attention increased, the PENDLE price also broke above $5 yesterday and reached a new all-time high of $5.17, rising nearly 20% in a week.