Will Bitcoin-backed stablecoin sUSDa take Pendle to $7? – BitRss

• Pendle integrates sUSDa by Avalon Finance, enhancing its ecosystem and driving potential token demand.
• Technical support at $3.50 and $3.62 may pave the way for a 93% breakout to $7 resistance.

Pendle Finance [PENDLE] has announced the launch of a new Bitcoin [BTC ($105,061.29)]-backed stablecoin, sUSDa, which matures in April 2025, to its ecosystem.

This stablecoin, developed by Avalon Finance, is now available for trading on the Pendle platform. 

The integration represents an expansion of Pendle’s offerings, aimed at increasing liquidity and user engagement.

This announcement has drawn attention as it could potentially boost demand for Pendle’s platform and native token.

With a circulating supply of 160 million PENDLE and a market cap of $595.6 million, the token’s adoption is closely tied to the growth of its ecosystem.

PENDLE: Pot…