Pendle became the second-largest decentralized venue for tokenized stocks, accounting for about 17% of the DeFi market, up from seventh place one month earlier. As of November 2, 2026, its total value locked in the category stood at $33.8 million, following a $16 million increase in October, compared with $9.2 million for Aave V4. This growth was supported by the integration of yield markets for tokenized stocks GOOGLc and NVDAc on Base, followed by the launch of PendleLoop on October 22, 2026. The product allows users to open leveraged long positions on seven tokenized stocks in one click, with leverage ranging from 2.6 to 4.2 times. Deposits of tokenized stocks across DeFi reached approximately $300 million by late October 2026, a 25-fold increase in one year, while the broader tokenized equities market was valued at $3.8 billion to $4.6 billion.
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