Pendle, a cryptocurrency yield trading platform, reported a significant increase in its average total value locked (TVL) for the third quarter, reaching $8.75 billion. This marks a 118.8% rise from the $3.99 billion recorded in the second quarter. Stablecoins constituted approximately 80% of the TVL, and Pendle ranked second on the Plasma chain, where TVL is approaching $10 billion, representing 30% of the chain's total. The platform also reported a nominal trading volume of $23.39 billion, alongside fees of $9.53 million and revenue of $9.14 million. Additionally, Pendle saw 292,000 monthly active users in Q3, with all major metrics showing growth.