Pendle Finance has launched Bitcoin pools, expanding its successful Ethereum-centric DeFi strategies into the Bitcoin yield market.

This initiative is in partnership with Lombard Finance and Corn Finance, offering Bitcoin-linked pools with fixed yields around 10% and floating yields that could reach up to 45%.

The timing of this expansion aligns with a growing interest in Bitcoin staking and yield opportunities, providing Bitcoin holders with unique strategies to enhance their participation in the DeFi ecosystem.

These new yield options allow users to choose between fixed and floating yields, along with potential future token airdrops for LBTC holders.

Users can earn these yields by depositing LBTC, a liquid-staking token from Lombard, into Pendle's pools, which are created in collaboration with the Ethereum layer-2 network Corn.

Pendle's flexibility as a yield tokenization platform enables it to adapt to emerging trends in the crypto space, such as liquid staking and memecoins.

The introduction of Bitcoin staking features has led to a significant surge in the PENDLE token price, which has risen by 11% in the last 24 hours and entered the top 100 cryptocurrencies.

Over the past 38 days, the price of PENDLE has rallied by 62.85%, recovering from a decline earlier this year.

Currently, critical support levels for PENDLE are at $3.327, which aligns with the 23.60% Fibonacci level and near the 50-day EMA.

Technical indicators suggest a potential bullish breakout for PENDLE as it approaches key Fibonacci levels of $4.59 and $5.15.

Looking ahead, the upcoming Pendle V3 upgrade is expected to enhance liquidity and scalability, appealing to institutional investors.

TN Lee, CEO of Pendle, expressed enthusiasm about collaborating with various BTC yield protocols and anticipates a busy schedule with new pool launches.