Pendle, a decentralized finance (DeFi) protocol, caught the attention of crypto investors with its aggressive recovery despite the broader market correction. The altcoin witnessed an intense inflow in March’s fourth week as the price reverted from $2.3 support to rally 190% and reached a new all-time high of $6.63. As the correction trend extends for major altcoins, will Pendle maintain its bullish momentum?
Also Read: How Is the Crypto Market Doing Today?
Will Pendle Price Loss $5 Support Amid Market Correction?
Pendle Price| Tradingview
Pendle is a protocol that operates on the Ethereum blockchain, designed to innovate in the decentralized finance (DeFi) space by offering a platform for yield trading. Defying the majority of major cryptocurrencies which entered a new correction trend in mid-March, the Pendle price emerged with a high momentum rally.
This recovery can be attributed to several factors, one being the explosive growth in its Total Value Locked (TVL). Data from DeFiLlam
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