PENDLE's yield vault attracted approximately $50M in deposits over the past two weeks following the Morpho vault launch

, while token emissions hit record lows.

Multiple developments converging

The protocol holds approximately $3.7B in locked value—roughly 12.5x its current market value—indicating significant user funds deposited relative to the token's price. This comes as 230 depositors joined the vault and weekly token emissions dropped roughly

↘78%

since January according to the

.

Product adoption accelerating

The vault attracted 230 depositors over the past two weeks, with the protocol maintaining approximately $3.7B in total locked value. Weekly token emissions dropped roughly

↘78%

since January, reaching record lows.

Trading activity fluctuating

Trading volume jumped roughly

↗98%

over the past week but fell roughly

↘39%

over the past 24 hours. More sellers than buyers were active over the past day.