$Pendle experienced a significant 13% surge to $3.59 in the value of its native token $PENDLE following the announcement of the integration of Bitcoin yield strategies with new $BTC pools. This development has not only resulted in a price increase but has also garnered strong bullish sentiments from the community, with 87% showing optimism, according to Coinmarketcap data.
Arthur Hayes, Co-founder of BitMex, also expressed his positive outlook on the launch, predicting that $PENDLE could rise to $10. In a recent post, he stated, “$PENDLE + $BTC DeFi = $10. Bet.”
Through its collaboration with Corn, Lambard (LBTC), and Babylon, Pendle aims to unlock new yield opportunities for Bitcoin. This initiative allows Bitcoin holders to diversify their assets in the DeFi space and earn rewards without compromising the liquidity of their assets.
TN Lee, CEO of Pendle, expressed excitement about the partnership, stating, “We’re thrilled to be collaborating with various BTC yield protocols to provide new opportunities for their users through Pendle. We have witnessed significant success with fixed yield for ETH, and now we aim to replicate that success with BTC as well.”
Powered by Lombard, Corn’s LBTC enables liquid BTC staking on Babylon, a BTC-focused restaking infrastructure layer. By depositing LBTC on Corn, users can participate in Corn’s pre-launch campaign and earn Kernels, which can later be utilized for the $CORN airdrop.
This latest development further expands the possibilities and utility of Pendle in the cryptocurrency market.