Latest news with #Pendle
Yahoo
5 days ago
- Business
- Yahoo
Leverage Reconfigures in Q1: DeFi Recovers, CeFi Quietly Expands, Treasury Debt Mounts
Leverage across the crypto economy is evolving, not evaporating. Total crypto-collateralized lending fell 4.9% quarter-over-quarter to $39.07 billion, the first decline since late 2023, Galaxy Research's Q1 2025 report shows. But while the headline figure contracted, underlying dynamics suggest leverage is shifting form, not fading. Lending in decentralized finance (DeFi) lending took a hit early in the quarter, sliding as much as 21%, before rebounding sharply in April and May. The turnaround was driven largely by Aave's integration of Pendle tokens, whose yield-bearing structure and high loan-to-value ratios (up to 90%) sparked a wave of fresh borrowing. By late May, DeFi borrowing had surged more than 30% off the lows, with Ethereum leading the recovery. Centralized finance (CeFi) lending climbed 9.24% to $13.51 billion, led by Tether, Ledn, and Two Prime. Still, Galaxy notes that a narrow set of public disclosures limits visibility into the true scope of centralized lending. Private desks, OTC platforms, and offshore credit providers likely push the actual total far higher. perhaps by 50% or more. Meanwhile, bitcoin BTC treasury companies are quietly becoming a new systemic leverage node. Firms like Strategy (MSTR) have issued billions in convertible debt to fund BTC purchases. As of May, total outstanding debt across treasury firms stood at $12.7 billion, much of it set to mature between 2027 and 2028. In derivatives, CME's rising open interest especially in ether ETH futures signals accelerating institutional participation. At the same time, upstart exchange Hyperliquid has carved out a growing share of the perpetual futures market, underscoring the continued strength of retail-driven leverage. The report points to an increasingly interconnected market structure, one where stress in a single venue or instrument could reverberate quickly across the ecosystem. Leverage, in crypto's current cycle, may be more fragmented than before — but it's no less potent. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
7 days ago
- Business
- Yahoo
More than a dozen swimming baths extension bids received by council
More than a dozen tenders to build an extension to the Wavelengths swimming pool and leisure centre in Nelson have been received by Pendle Council. The project will be funded by the £25 million Nelson Town Deal, and 14 tenders of between £473,000 and £934,000 have been received and accepted by the council, according to a new report. Now, a decision needs to be made on which business – or businesses – will win the contract. Leading councillors on Pendle's executive looked at bids this week, and a decision on a contractor is due soon. Wavelengths is one of a number of council-owned leisure centres operated by the arms-length body Pendle Leisure Trust on behalf of the borough council. The future of leisure centres has been a topic of debate over recent years, with rising energy costs, building maintenance, and squeezed council budgets all having an impact. At one point, a consultant's review suggested closing one of the three main leisure centres, but that was later rejected after the Liberal Democrats and Independents took shared political control of the borough. Last summer, Pendle Council's executive backed a plan to invest in Wavelengths and was told extended facilities, including gym and fitness features, could boost the overall number of visits by more than 100,000. Increased customer use and payment would be needed to reach financial savings, which cannot be achieved through energy efficiencies alone, councillors were told. Furthermore, an expanded Wavelengths could assist the wider regeneration of Nelson town centre, which includes knocking down and redeveloping Pendle Rise shopping centre. Wavelengths could provide vital extra revenue to counterbalance the council's financial pressures elsewhere, councillors said. Last summer, Lib Dem Councillor David Whipp had said he wanted the Wavelengths spending decision delayed until September, when a review of all three leisure centres at Nelson, Colne, and Barnoldswick was due. But, most other councillors disagreed and said time was marching on with the Nelson Town Deal. Cllr Whipp also warned of a potential falling out between communities if one town was seen as getting more investment than another. However, other councillors said Colne was getting significant investment too with Levelling-Up funding for the Muni Theatre, other theatre spaces and Colne Market Hall. Pendle Council was also granted a £1.7 million public building de-carbonisation grant for West Craven Sports Centre in Barnoldswick and Wavelengths in Nelson, separately from the Town Deal. Existing gas-fired boilers, which supply heating and hot water,r will be replaced with air source heat pumps and windows will be upgraded. The council said it has provided an additional £900,000, bringing the total investment in the two leisure centres to £2.6 million.
Yahoo
31-05-2025
- Business
- Yahoo
AAVE Rebounds From 15% Drop as DeFi Yield Markets Gain Momentum
AAVE has demonstrated remarkable resilience in the face of global market turbulence, rebounding from a 15% price drop over four days as buyers stepped in to capitalize on DeFi's growing momentum. The protocol's price climbed from $240 to above $250, buoyed by expanding tokenized yield markets that are drawing increased institutional and retail interest. The price action comes as global trade tensions and new tariff uncertainties — including reports of China violating its trade agreement with the U.S. — injected volatility across risk assets. Despite these headwinds, the DeFi sector is showing renewed strength, with total value locked (TVL) surging to $178.52 billion. AAVE remains a key leader in the space, commanding a TVL of $25.41 billion. News Background A key driver of AAVE's recent rebound has been its integration with Pendle's tokenized yield markets, which saw new markets reach their supply caps within hours of launch, underscoring the strong demand for yield-generating products in the DeFi ecosystem. The Ethereum Foundation (EF) borrowed $2 million in GHO, Aave's decentralized stablecoin pegged to the U.S. Dollar, earlier this week. This move, facilitated by supplying ETH as collateral, highlighted EF's strategy of leveraging its crypto holdings to fund operations while supporting Aave's protocol. Aave's GHO stablecoin is fully overcollateralized within the Aave ecosystem, with EF's loan backed by 1,403,519.94 Gwei of ETH (valued at $0.01 in the transaction). Interest payments on this loan support Aave's DAO treasury, reinforcing a community-driven financial model that incentivizes participation and governance. Aave's lending dominance is underscored by its 45% market share from January 2023 to May 2025, according to IntoTheBlock data. This figure highlights Aave's steady recovery from the 2023 DeFi dip and cements its status as the largest decentralized lending protocol by volume and activity. Technical Analysis Recap AAVE established a high-volume support zone around $242.70 during the 16:00-17:00 and 01:00-02:00 hours, attracting strong buying with volumes exceeding 90,000 units. A bullish ascending triangle pattern formed, with higher lows indicating accumulation despite recent resistance. After peaking at $255.96 at 20:00, AAVE set resistance at $253.75 before stabilizing at $248-$250. A notable volume spike between 07:51-07:52 coincided with a sharp rise from $248.98 to $249.82, creating a new resistance level. A cup-and-handle pattern formed, with the handle developing between 07:56-08:00, suggesting accumulation after the recent pullback. Short-term consolidation near $249, coupled with increasing volume on upward moves, hints at potential bullish momentum building for a test of $250 resistance. As DeFi yield markets continue to expand, AAVE's ability to integrate new products and sustain high-volume support levels positions it as a key player in the sector's growth — despite the broader market's macroeconomic challenges. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
18-05-2025
- General
- Yahoo
Archaeological dig begins on new cemetery site
A search for archaeological remains is under way on land which has been earmarked for a new cemetery. The 6.3 hectare site off Halifax Road, Nelson, Lancashire, was bought by Pendle Borough Council to provide space for about 4,500 graves. Work is being carried out to prepare for when the current cemetery on Walton Lane reaches full capacity in four years. The survey of the proposed burial ground is to ensure planning permission can be granted for the project and the dig could take between four to eight weeks to complete. Asjad Mahmood, leader of Pendle Borough Council, said: "A lot of thought and consideration went into finding the right location for a site which would be suitable for a dignified burial space in an attractive green environment. "We understand the value of green open spaces across Pendle and the site will remain open to everyone. "We will not be expanding the cemetery beyond its current boundaries, so anyone with gardens or allotments next to the site will not be affected." Listen to the best of BBC Radio Lancashire on Sounds and follow BBC Lancashire on Facebook, X and Instagram. You can also send story ideas via Whatsapp to 0808 100 2230. Plans put forward for new 7,000-grave cemetery Pendle Borough Council
BBC News
18-05-2025
- General
- BBC News
Archaeological dig begins to test grounds for Pendle's new cemetery
A search for archaeological remains is under way on land which has been earmarked for a new 6.3 hectare site off Halifax Road, Nelson, Lancashire, was bought by Pendle Borough Council to provide space for about 4,500 is being carried out to prepare for when the current cemetery on Walton Lane reaches full capacity in four survey of the proposed burial ground is to ensure planning permission can be granted for the project and the dig could take between four to eight weeks to complete. Asjad Mahmood, leader of Pendle Borough Council, said: "A lot of thought and consideration went into finding the right location for a site which would be suitable for a dignified burial space in an attractive green environment."We understand the value of green open spaces across Pendle and the site will remain open to everyone."We will not be expanding the cemetery beyond its current boundaries, so anyone with gardens or allotments next to the site will not be affected." Listen to the best of BBC Radio Lancashire on Sounds and follow BBC Lancashire on Facebook, X and Instagram. You can also send story ideas via Whatsapp to 0808 100 2230.
