Pendle leads the market with stablecoin yield strategies, analysts predict a target price of $11.

On June 16, analysts jointly participated in writing a report stating that as the “GENIUS Act” promotes clarity in stablecoin regulation, the sector is entering a rapid rise period. Citigroup expects the stablecoin sector to achieve a compound annual growth rate of 45%.

Against this backdrop, the DeFi protocol Pendle stands out as a key asset for capturing the trend of stablecoin yields. Currently, Pendle accounts for about 30% of the stablecoin yield market, with the proportion of stablecoins in its TVL exceeding 80%. Its core mechanism, “yield tokenization,” splits yield-bearing assets into principal tokens (PT) and yield tokens (YT), allowing users to lock in fixed returns and hedge against interest rate volatility.

Pendle has also become an important channel for attracting and incentivizing users for collaborative projects. With new initiatives such as Boros and Citadel advancing, its market service and monetization capabilities are expected to continue expanding. Currently, the expectation of Pendle’s annual revenue hitting 100 million USD is gradually taking shape, but market attention remains relatively insufficient.

The valuation model based on vePENDLE earnings estimates a target price of $11 for PENDLE, calculated using an expected revenue of 80%, a price-to-earnings (P/E) ratio of 25, and an expected circulating supply of approximately 170 million coins. According to the football field valuation model, the reasonable valuation range for PENDLE is between $8 and $12, corresponding to a rise potential of 2-3 times the current price.