The yield-trading protocol Pendle has secured the second position in the decentralized finance market for tokenized stocks, capturing a 17% share as of November 2, 2026. This represents a significant climb from its seventh-place ranking just one month prior.
The protocol's total value locked in tokenized stocks reached $33.8 million by October 31, 2026, following a monthly increase of $16 million. For comparison, Aave V4 saw an inflow of $9.2 million during the same period.
Pendle's growth is supported by recent product expansions, including the integration of yield markets for GOOGLc and NVDAc on the Base network in mid-October 2026. Additionally, the platform launched PendleLoop on October 22, 2026, enabling leveraged long positions on seven tokenized stocks with leverage ratios between 2.6x and 4.2x.
The broader tokenized stock sector in DeFi has seen rapid growth, with total deposits reaching approximately $300 million by late October 2026, compared to $11.8 million a year earlier. The total market for tokenized equities is currently valued between $3.8 billion and $4.6 billion.
