Coinbase Bridge vs Pendle

Compare Coinbase Bridge and Pendle on TVL, fees, revenue and activity to understand how these projects stack up.

$6.136B

cbBTC is Coinbase’s wrapped Bitcoin launched on Base and Ethereum to simplify DeFi access for exchange users. Custody is handled by Coinbase Prime with a daily on‑chain proof‑of‑reserve attestation signed by Deloitte. cbBTC is fungible 1:1 with native BTC and charges zero conversion fees during promotional periods.

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$1.103B

Pendle splits yield‑bearing tokens into Principal (PT) and Yield (YT) tokens, enabling users to lock in fixed rates or speculate on future yield. A permissionless AMM with a custom logit bonding curve lets YT premiums track forward‑looking yield expectations. Pendle TVL grew 10× in 2024 on the back of LST and RWA integrations, and PENDLE governance now controls a large veToken bribe market.

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Key Metrics Comparison

Coinbase Bridge

TVL

$6.136B

24h Volume

N/A

24h Fees

N/A

24h Revenue

N/A

30d Fees

N/A

30d Revenue

N/A

7d TVL Change

N/A

Dominance

2.57%

Pendle

TVL

$1.103B

24h Volume

$12.27M

24h Fees

$9.6K

24h Revenue

$9.3K

30d Fees

$855.5K

30d Revenue

$843.4K

7d TVL Change

Market dominance by TVL

Coinbase Bridge

2.6%

Pendle

0.5%

TVL Comparison

Coinbase Bridge

Pendle