Pendle STRCx deposits hit record $50.4 million on Ethereum

What happened

STRCx deposits on Pendle ’s Ethereum deployment have reached an all-time high of $50.4 million. STRCx's record deposits on Ethereum highlight DeFi's growing role in traditional finance, potentially reshaping investment strategies.

What is STRCx, and why are people piling in STRCx is a tokenized (representing an asset as a tradable entry on a blockchain) representation of STRC, the variable-rate perpetual (a derivative contract with no expiry date) preferred stock issued by Strategy Inc .

Think of it as a blockchain-native wrapper that lets the security move through DeFi apps instead of sitting in a brokerage account. Those payouts have recently been in the range of 11.5% to 12%, according to the research findings.

The record comes after a rapid climb. As of October 16, 2026, STRCx held approximately $39.8 million in DeFi deposits on Pendle.

Roughly two weeks later, that figure had grown to $50.4 million, an increase of about $10.6 million.

About 25% of all outstanding STRCx now sits inside Pendle markets, based on mid- to late October 2026 data. And the activity is concentrated on one chain.