Pendle releases third quarter report: TVL averages $8.75 billion, a quarter-on-quarter increase of 118.8%

Cryptocurrency yield trading platform Pendle released its third-quarter report, showing an average total locked value (TVL) of $8.75 billion in the third quarter, up from $3.99 billion in the second quarter, with stablecoins accounting for about 80% of the TVL. It currently ranks second on Plasma, with a total locked value (TVL) close to $1 billion (approximately 30% of the entire chain).

In addition, Pendle's nominal trading volume for the third quarter was $23.39 billion, with fees of $9.53 million, revenue of $9.14 million, and 292,000 monthly active users, all key metrics showing growth.