Milk Road(@MilkRoad):Here's why our lead crypto analyst @m0xt_ didn't pull the trigger on a $PENDLE trade (missing a 4x gain against $BTC). His PENDLE thesis went like this: As stablecoins grow, PENDLE grows with them. Stablecoins are growing, but PENDLE isn't capturing it. TVL is down to $1.4B, and monthly revenue sits at $600k on a three-month rolling average. Both lines have been pointing the wrong way for months, while the market PENDLE was built to serve has expanded.

Milk Road

@MilkRoad

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Milk Road@MilkRoad

2026.05.16 15:27

Here's why our lead crypto analyst @m0xt_ didn't pull the trigger on a $PENDLE trade (missing a 4x gain against $BTC). His PENDLE thesis went like this: As stablecoins grow, PENDLE grows with them. Stablecoins are growing, but PENDLE isn't capturing it. TVL is down to $1.4B, and monthly revenue sits at $600k on a three-month rolling average. Both lines have been pointing the wrong way for months, while the market PENDLE was built to serve has expanded.