Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Pendle Expands BTCFi Presence with New Bitcoin Yield Pools Ahead of V3 Upgrade

Source Beincrypto

Pendle, a decentralized finance (DeFi) yield trading protocol, has made a significant leap by expanding into Bitcoin (BTC) yield options.

This new development enables Bitcoin holders to explore unique yield strategies, broadening their options within the DeFi ecosystem.

BTC Staking Meets Flexibility: Pendle’s Multi-Phase Yield Strategy

The introduction of BTC pools is the first chapter in Pendle’s multi-phase plan, which they call the Bitcoin Arc. This plan aims to increase BTC yield opportunities through collaborations with three DeFi powerhouses—Corn, Lombard Finance, and Babylon Labs.

The partnership allows users to deposit Lombard’s liquid-staked BTC (LBTC) on Corn, a Layer 2 (L2) Ethereum protocol, and participate across the ecosystems of Lombard, Corn, and Babylon. Through this initiative, participants can receive benefits from Corn Kernel multipliers, Lombard Points, and Babylon Points, creating a comprehensive and interconnected yield ecosystem.

Read more: Top 8 High-Yield Liquid Staking Platforms To Watch in 2024

Pendle will offer Bitcoin holders two primary yield strategies through its BTC pools. The PT-LBTC option, which offers a fixed yield on BTC, allows users to lock in stable, predictable returns. This strategy is ideal for those seeking to avoid the risks of yield volatility and instead opt for consistent, guaranteed returns.

Meanwhile, the YT-LBTC option offers leveraged exposure to Bitcoin yields. Users can benefit from multipliers—up to 3x through Corn Kernel and Lombard Points—with additional Babylon Points enhancing yield potential. This approach caters to those looking to maximize returns by taking calculated risks to pursue higher yields.

Preparing for Bitcoin’s Growing Role in Decentralized Finance

Pendle’s latest initiative aligns with the growing momentum of Bitcoin in DeFi (BTCFi). As Bitcoin’s presence in DeFi expands, Pendle’s BTC yield pools position the platform to capitalize on this trend.

Daniel Anthony, Pendle’s Head of Growth, explained that incorporating Bitcoin yield options aligns with a broader strategy to adapt to key developments in the DeFi sector. He pointed out that the rise of BTC staking was anticipated earlier this year as venture capital began to flow into the space. Pendle was prepared for this shift, ensuring its platform could accommodate Bitcoin assets.

“RWA was hyped because people said we can tap into this trillion-dollar liquidity in TradFi and bring that whole thing to DeFi. But I think what people have been missing is that the next closest neighbor to us that we haven’t really tapped into the DeFi is BTC. I think Bitcoin has a very deep liquidity in crypto. I mean, look at centralized exchanges. The amount of liquidity that they have and Bitcoin is extremely deep. And that hasn’t been tapped into DeFi at all,” Anthony elaborated to BeInCrypto in a recent exclusive interview.

Looking ahead, Anthony foresees Bitcoin’s expanding role in DeFi, predicting continuous evolution for BTCFi alongside infrastructure advancements. He emphasized that Pendle’s strategic focus on Bitcoin positions it to stay relevant as the industry moves forward, particularly as demand for liquidity and yield opportunities in BTC increases.

Beyond aligning with current market trends, Pendle’s expansion into Bitcoin yield options also prepares for the protocol’s upcoming V3 upgrade. The V3 iteration will focus on improving liquidity and scalability, addressing current limitations in handling larger transactions.

Furthermore, Anthony highlighted that V3 will enable the protocol to accommodate larger investments. This capability will make it more attractive to institutional investors and large-scale DeFi participants.

“For example, currently, we are unable to tap into transactions that are 6, 7 figures, and above just because of liquidity constraints of Pendle V2. So, to cater to this, we are building Pendle V3. […] I think it mostly serves as an upgrade to what Pendle V2 cannot do and serves as a very big complement to what Pendle V2 is today. Hopefully, we can get it out by early next year,” he elaborated.

Read more: 9 Cryptocurrencies Offering the Highest Staking Yields (APY) in 2024

Pendle’s TVL. Source: DefiLlama

Currently, Pendle ranks as the largest yield protocol by total value locked (TVL). DefiLlama data shows that it has a TVL of $2.63 billion at the time of writing.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Gold Price Forecast: XAU/USD drifts higher above $4,200 as Fed delivers expected cut Gold price (XAU/USD) gains momentum to around $4,235 during the early Asian session on Thursday. The precious metal extends its upside after the US Federal Reserve (Fed) delivered an expected third consecutive interest rate cut and maintained its outlook for just one cut in 2026.

Author FXStreet

Dec 11, Thu

Gold price (XAU/USD) gains momentum to around $4,235 during the early Asian session on Thursday. The precious metal extends its upside after the US Federal Reserve (Fed) delivered an expected third consecutive interest rate cut and maintained its outlook for just one cut in 2026.

Gold remains bid as lack of Fed clarity and geopolitical frictions persist Gold (XAU/USD) advances modestly on Friday as traders seem to book profits ahead of the weekend, yet clings to gains of over 0.51% after reaching a seven-week high of $4,353. At the time of writing, XAU/USD trades at $4,302 as traders digest comments from Federal Reserve (Fed) officials.

Author FXStreet

Yesterday 01: 34

Gold (XAU/USD) advances modestly on Friday as traders seem to book profits ahead of the weekend, yet clings to gains of over 0.51% after reaching a seven-week high of $4,353. At the time of writing, XAU/USD trades at $4,302 as traders digest comments from Federal Reserve (Fed) officials.

Ethereum Price Slips Lower — $3,000 Looms as the Key Battleground Ethereum is attempting to recover from a $3,026 low but remains below $3,200 and the 100-hour SMA, with a bearish trend line near $3,175 capping rebounds as bulls need a clean break above $3,200 to target $3,250–$3,400, while a drop below $3,050 risks a retest of $3,000 and $2,940.

Author Mitrade

Yesterday 03: 25

Ethereum is attempting to recover from a $3,026 low but remains below $3,200 and the 100-hour SMA, with a bearish trend line near $3,175 capping rebounds as bulls need a clean break above $3,200 to target $3,250–$3,400, while a drop below $3,050 risks a retest of $3,000 and $2,940.

Macro Analysts: Hawkish Japan Could Push Bitcoin Below $70K Analysts predict Bitcoin may face further declines towards the $70,000 mark if the Bank of Japan raises interest rates as expected.

Author Mitrade

Yesterday 05: 48

Analysts predict Bitcoin may face further declines towards the $70,000 mark if the Bank of Japan raises interest rates as expected.

Bitcoin Slides 5% as Sellers Lean In — Can BTC Reclaim $88,000?Bitcoin has dropped back below $88,000 after rolling over from $90,500, with price still trading under the 100-hour Simple Moving Average. The sell-off found a floor at $85,151, and BTC is now consolidating near that base, but rebounds are facing pressure from a bearish trend line around $89,000. Bulls need to retake $88,000–$89,000 to ease downside risk; failure to do so keeps $85,500–$85,000 and then $83,500 in play, with $80,000 as the deeper “line in the sand.” Bitcoin (BTC) is back in damage-control mode after a sharp pullback wiped out recent gains. The price failed to reclaim the $90,000–$90,500 band, rolled over, and slid through $88,500 before briefly dipping under $87,000. Buyers did show up around $85,000, but the rebound so far looks more like stabilization than a clear trend reversal. Bitcoin dips hard, finds a bid near $85,000（h3） BTC’s latest move lower began when it couldn’t build follow-through above $90,000 and $90,500. Once that upside stalled, sellers took control and pushed price down through $88,500. The slide accelerated enough to spike below $87,000, but the market didn’t free-fall. Bulls defended the $85,000 zone, printing a low at $85,151. Since then, Bitcoin has been consolidating below the 23.6% Fibonacci retracement of the drop from the $93,560 swing high to the $85,151 low — a clue that the bounce is still shallow and that sellers haven’t fully backed off yet. Structurally, BTC is still on the back foot: It’s trading below $88,000, and It remains below the 100-hour Simple Moving Average, keeping short-term trend pressure pointed downward. Resistance is layered, and $89,000 is the problem area（h3） If bulls try to turn this into a recovery, they’ll have to climb through multiple ceilings in quick succession. First, BTC faces resistance around $87,150, followed by a more meaningful barrier near $87,500. From there, the market’s attention snaps back to $88,000 — the level BTC just lost and now needs to reclaim. A close back above $88,000 would improve the tone, but it doesn’t solve the bigger issue: there’s a bearish trend line on the hourly BTC/USD chart (Kraken feed) with resistance near $89,000, which also lines up with the next technical hurdle. If BTC can push through $89,000 and hold, the rebound could extend toward $90,000, with follow-through targets at $91,000 and $91,500. But until price clears that $88,000–$89,000 zone, rallies are at risk of being sold rather than chased. If BTC fails to reclaim resistance, the downside path is clear（h3） The near-term bear case is simple: if Bitcoin can’t climb back above the $87,000 area and keep traction, sellers may attempt another leg lower. Support levels line up like this: Immediate support: $85,500 First major support: $85,000 Next support: $83,500 Then $82,500 in the near term Below that, the major “don’t break this” level is still $80,000. If BTC slips under $80,000, the risk of acceleration to the downside increases significantly — not because it’s magic, but because it’s the kind of psychological and structural level that tends to trigger forced de-risking. Indicators: momentum still leans bearish（h3） The intraday indicators aren’t offering much comfort yet: Hourly MACD is losing pace in the bearish zone. Hourly RSI remains below 50, suggesting sellers still have the upper hand on short timeframes. So while the $85,000 defense held for now, the market hasn’t flipped bullish — it’s just stopped bleeding.

Author Mitrade

10 hours ago

Bitcoin has dropped back below $88,000 after rolling over from $90,500, with price still trading under the 100-hour Simple Moving Average. The sell-off found a floor at $85,151, and BTC is now consolidating near that base, but rebounds are facing pressure from a bearish trend line around $89,000. Bulls need to retake $88,000–$89,000 to ease downside risk; failure to do so keeps $85,500–$85,000 and then $83,500 in play, with $80,000 as the deeper “line in the sand.” Bitcoin (BTC) is back in damage-control mode after a sharp pullback wiped out recent gains. The price failed to reclaim the $90,000–$90,500 band, rolled over, and slid through $88,500 before briefly dipping under $87,000. Buyers did show up around $85,000, but the rebound so far looks more like stabilization than a clear trend reversal. Bitcoin dips hard, finds a bid near $85,000（h3） BTC’s latest move lower began when it couldn’t build follow-through above $90,000 and $90,500. Once that upside stalled, sellers took control and pushed price down through $88,500. The slide accelerated enough to spike below $87,000, but the market didn’t free-fall. Bulls defended the $85,000 zone, printing a low at $85,151. Since then, Bitcoin has been consolidating below the 23.6% Fibonacci retracement of the drop from the $93,560 swing high to the $85,151 low — a clue that the bounce is still shallow and that sellers haven’t fully backed off yet. Structurally, BTC is still on the back foot: It’s trading below $88,000, and It remains below the 100-hour Simple Moving Average, keeping short-term trend pressure pointed downward. Resistance is layered, and $89,000 is the problem area（h3） If bulls try to turn this into a recovery, they’ll have to climb through multiple ceilings in quick succession. First, BTC faces resistance around $87,150, followed by a more meaningful barrier near $87,500. From there, the market’s attention snaps back to $88,000 — the level BTC just lost and now needs to reclaim. A close back above $88,000 would improve the tone, but it doesn’t solve the bigger issue: there’s a bearish trend line on the hourly BTC/USD chart (Kraken feed) with resistance near $89,000, which also lines up with the next technical hurdle. If BTC can push through $89,000 and hold, the rebound could extend toward $90,000, with follow-through targets at $91,000 and $91,500. But until price clears that $88,000–$89,000 zone, rallies are at risk of being sold rather than chased. If BTC fails to reclaim resistance, the downside path is clear（h3） The near-term bear case is simple: if Bitcoin can’t climb back above the $87,000 area and keep traction, sellers may attempt another leg lower. Support levels line up like this: Immediate support: $85,500 First major support: $85,000 Next support: $83,500 Then $82,500 in the near term Below that, the major “don’t break this” level is still $80,000. If BTC slips under $80,000, the risk of acceleration to the downside increases significantly — not because it’s magic, but because it’s the kind of psychological and structural level that tends to trigger forced de-risking. Indicators: momentum still leans bearish（h3） The intraday indicators aren’t offering much comfort yet: Hourly MACD is losing pace in the bearish zone. Hourly RSI remains below 50, suggesting sellers still have the upper hand on short timeframes. So while the $85,000 defense held for now, the market hasn’t flipped bullish — it’s just stopped bleeding.

Popular Articles

Popular Articles

Popular Articles

Popular Articles

Popular Articles

Popular Articles

Popular Articles

Popular Articles

Popular Analysis

Popular Analysis

Popular Analysis

Popular Analysis

Popular Analysis

Popular Analysis

Top Blog Posts

Top Blog Posts

Top Blog Posts

Top Blog Posts

Top Blog Posts

Top Blog Posts

Top Blog Posts

Beginners

Pendle Expands BTCFi Presence with New Bitcoin Yield Pools Ahead of V3 Upgrade

BTC Staking Meets Flexibility: Pendle’s Multi-Phase Yield Strategy

Preparing for Bitcoin’s Growing Role in Decentralized Finance

Recommended Articles