Pendle Weekly Report: $5.59 billion TVL continues to hit high, fixed income strategy heat rises

According to BlockBeats, on July 22nd, Pendle's total lock up volume (TVL) this week reached a new high for the year, reaching $5.59 billion. The total amount of Pendle PT in the lending platform ecosystem has exceeded 3 billion US dollars, with Aave accounting for the largest proportion and PT collateral totaling over 2.46 billion US dollars. The Pendle mortgage scale of Morpho and Euler also reached $442 million and $67 million respectively, indicating that Pendle's ecological structural benefit strategy is growing synchronously in multiple agreements. The annualized yield of PT sUSe (September 2025) currently being monitored by the market has risen to 11.11%, as the return on the July contract has been largely released and the price is close to the principal. Pendle reminds users to migrate funds to the September contract as soon as possible to lock in their fixed income. At present, on chain data shows that about $1.9 billion of funds are about to flow out of the July series and be redeployed, which is expected to dilute the new PT yield. Therefore, the current strategy deployment window is low competition and high returns. In addition, Pendle announced a partnership with HyperEVM, expecting more new assets to be launched, including Hyperwave (hwHLP), Kinetiq (kHYPE), and Hyperbeat Ultra (HYPE), aimed at further expanding its asset base and ecological influence in the structured income market.