09 Aug
09Aug

The PENDLE token is experiencing a significant rally, reaching its highest price in seven months, driven by the launch of the staking token KHYPE on the Pendle yield tokenization protocol. In the last 24 hours alone, PENDLE has risen by 19%, contributing to a 35% weekly gain. The token's strong performance has been linked to its recent integration with the Hyperliquid ecosystem.

KHYPE is the receipt token for Kinetiq, the largest liquid staking protocol on Hyperliquid’s HyperEVM, which boasts a Total Value Locked (TVL) of $987 million. Following its launch on Pendle on July 30, the KHYPE market has rapidly grown to a TVL of $177 million, making it the sixth-largest market on the platform and the largest not tied to a stablecoin.

In addition to its strong TVL, the KHYPE market is also leading Pendle in daily trading volume, with $67 million traded in the last 24 hours. The general strength of the broader market, particularly among DeFi and Ethereum-related altcoins, is also contributing to the rally, with other tokens like Aerodrome and Lido also seeing notable gains. This strong performance positions Pendle to continue its impressive growth, which has seen the token increase by 335% since the beginning of 2024.

August 2025, Cryptoniteuae

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