The volume covers the full UTC day ending at 8 p.m. ET on Oct. 20. It compares with a $23.6 million median for the seven preceding UTC days, Oct. 13–19. The latest total was 6.74 times that baseline, according to The Defiant’s calculation. The next-highest daily total in the 30-day window was $136.2 million on Sept. 21.
Pendle splits yield-bearing assets into principal tokens, or PT, and yield tokens, or YT. Both can trade through its automated market maker, allowing users to trade yield exposure separately from principal.
The dollar volume is not a measure of cash deposited. Under DefiLlama’s methodology, a yield-token trade counts the size of the underlying position, not the smaller amount paid for that exposure. The total includes pool swaps and filled limit orders, counted once on the yield-bearing-token side. Minting and redeeming principal and yield tokens are excluded.