Pendle leads the wave of DeFi fixed income, with TVL and PT market values reaching historic highs

According to BlockBeats, on July 29th, according to Pendle Intern, on chain data shows that the total lock up volume (TVL) of the Pendle platform has exceeded $6.76 billion, setting a new historical high (ATH). Among them, the total market size of Principal Tokens (PTs) generated through Pendle has also reached $4.88 billion, of which $3.87 billion has been deployed as collateral in mainstream DeFi lending markets, including protocols such as Aave, Morpho, Euler Finance, and Silo Finance. This trend not only highlights Pendle's dominant position in the fixed income sector, but also indicates that DeFi is evolving from speculative returns to sustainable financial infrastructure. The PT fixed income mechanism promoted by Pendle not only allows retail users to lock in medium to long-term stable returns, but also opens the door for institutional capital seeking risk adjusted returns.