Pendle TVL surpasses $7B ATH as new catalysts emerge: what’s next?

• The protocol’s TVL touched $7.02 billion today.
• Upcoming developments like Boros, HyperEVM, and Converge suggest continued growth.
• PENDLE’s price has turned bullish after an 8% rally.

Tokenization platform Pendle has attained a new all-time high in total value locked today, hitting $7.021 billion.

It has topped June 2024’s historical peak of $7.013 billion.

The timing could not be better.

The TVL milestone comes as Pendle awaits vital developments in the coming weeks and months, including hyperEVL expansion, Boros release, and Converge launch.

Meanwhile, the total value locked surge signals more capital as users trust Pendle’s yield-trading mechanism, especially following the latest stablecoin regulation.

Digital tokens backed by real-world assets have seen increased appetite since the US signed the GENIUS Act.

This article evaluates what to expect as the protocol braces for key catalysts.

HyperEVM expansion sparks bullish momentum

Pendle has remained on the crypto community’s radar as it prepares to launch HyperEVM.

Speculations suggest that this fastest-growing and most active EVM-compatible chain might go live as soon as this week.

HyperEVM will enhance the protocol’s cross-chain interoperability and access to new audiences.

The upcoming product is more than a Layer 1 or Layer 2.

HyperEVM is ushering in the next generation of DeFi apps.

Pendle’s early integration would enhance its appeal for collaborations, user activity, and new markets for magnified liquidity.

The team launched Hyperwaverfi on July 23 to prepare for the HyperEVM launch.

As if we needed more proof that HyperEVM is the best place to build…but here it is:

Pendle launched their hwHLP @Hyperwavefi Market just two days ago and it already has $7,93 Million in TVL

Doing $1,5 Million in 24h Volume
In just two Days HyperEVM already has more TVL on… pic.twitter.com/fUDpETpHLD

— Tobias Reisner (@reisnertobias) July 26, 2025

Boros to unlock new utility

Another catalyst positioning PENDLE for continued growth is the Boros product.

While details remain scarce, Boros aims to significantly improve the ecosystem’s TAM (Total Addressable Market) and introduce new utility for yield-bearing assets.

Some suggest that it will allow traders to trade funding rates without interacting with perps and lock in fixed rates.

The product is scheduled for an August release and would cement Pendle’s value proposition as it attracts more capital and users.

$Pendle HyperEVM this week, Boros in August

ATH TVL $7 Bil

Number 1 in all of crypto for last 30 days fees growth (438% increase)

Holders (vePendle) revenue mooning

Bread to the $ENA butter

Direct beneficiary of Ethereum stablecoin narrative & the now passed Genius act. pic.twitter.com/OPKZ4mbREa

— Big Ninjah (@BigNinjah) July 28, 2025

Converge alliance adds momentum

Pendle is among the top partners of the upcoming Converge platform, signaling a deeper connection with modular DeFi protocols.

The tokenization platform will help unlock yield-trading on multiple dollarized assets.

The collaboration reflects Pendle’s commitment to on-chain finance.

It will likely boost the blockchain’s usage and visibility, translating to more benefits for PENDLE holders.

According to Converge:

Tokenized assets need predictable, liquid, and composable yield rails. By building on Converge, Pendle brings fixed-rate products, yield hedging, and liquidity strategies to tokenized securities and institutional-grade dollar instruments.

The upcoming launches, stablecoin growth, and protocol expansion will likely trigger more growth for Pendle in the coming times.

PENDLE price outlook

The altcoin trades at $4.72 after an impressive performance over the past 24 hours.

Overcoming the crucial resistance between $4.80 and $4.90 could support substantial gains towards $9.

PENDLE trades above the 50- and 100 Exponential Moving Averages on the 1D chart, signaling an upside momentum.

Positive broad market sentiments amid the upcoming Pendle catalysts position the altcoin for significant growth in the coming weeks and months.