{"id":33453,"date":"2024-07-02T09:28:03","date_gmt":"2024-07-02T09:28:03","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/defi-protocol-pendle-sees-40-drop-in-tvl\/"},"modified":"2024-07-02T09:28:03","modified_gmt":"2024-07-02T09:28:03","slug":"defi-protocol-pendle-sees-40-drop-in-tvl","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/defi-protocol-pendle-sees-40-drop-in-tvl\/","title":{"rendered":"DeFi protocol Pendle sees 40% drop in TVL"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/07\/pendle-tvl-down-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/07\/pendle-tvl-down-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/07\/pendle-tvl-down-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/07\/pendle-tvl-down-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>Pendle TVL has dropped sharply over the past week, from $6.2 billion to $3.7 billion.<\/li>\n<li>Meanwhile, PENDLE price is down 16% in the same period.<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">Pendle, the yield tokenization protocol that allows for the trading of yield-bearing crypto assets, has seen the total value locked (TVL) of assets on the platform slide more than 40% in one week.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Data shows the DeFi protocol\u2019s TVL hovered above $6.18 billion last week. <\/span><\/p>\n<p><span style=\"font-weight: 400\">However, that has now dropped to lows of $3.7 billion, with <a href=\"https:\/\/defillama.com\/protocol\/pendle#information\" target=\"_blank\" rel=\"noopener\">DeFiLlama data<\/a> showing a sharp drop that reflects the 40% decrease.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Why is Pendle TVL down?<\/span><\/h2>\n<p><span style=\"font-weight: 400\">Well, the broader market is down as cryptocurrencies struggle with sell-off pressure. <\/span><\/p>\n<p><span style=\"font-weight: 400\">However, this decline in Pendle TVL also comes amid the maturation of multiple liquid staking markets within the DeFi project\u2019s ecosystem. Impacted markets that saw huge pool tokens mature for redemption were across Ether.Fi, Renzo, Puffer and Swell among others. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Pendle markets that <a href=\"https:\/\/x.com\/pendle_fi\/status\/1805781432092311945\" target=\"_blank\" rel=\"noopener\">matured Thursday<\/a> include Ether.Fi\u2019s eETH, Renzo\u2019s ezETH, Puffer pufETH, Kelp\u2019s rsETH, and Swell\u2019s rswETH.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Pendle\u2019s TVL grew rapidly in the first half of 2024 as liquid restaking protocols attracted more users, particularly amid increased anticipation of market airdrops such as EigenLayer.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Despite the drop, the protocol has outlined several other new assets that users can opt into, including a short dated eETH for July 25 and a long dated eETH (for December 26). There\u2019s also a new series of September 26 pools, Ethena USDe, Symbiotic and Mellow LRTs and Karak LRTs among others.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Pendle price<\/span><\/h2>\n<p><span style=\"font-weight: 400\">PENDLE price has also slipped in recent weeks. <\/span><\/p>\n<p><span style=\"font-weight: 400\"><a href=\"https:\/\/coinjournal.net\/news\/pendle-price-outlook-amid-whale-activity\/\">Whale acivity<\/a> contributed to the scenario as has overall bleeding of altcoins. Per CoinGecko, PENDLE\u2019s value was down 16% in the past week and traded lower by nearly 3% in the past 24 hours (at the time of writing).<\/span><\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/defi-protocol-pendle-sees-40-drop-in-tvl\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Pendle TVL has dropped sharply over the past week, from $6.2 billion to $3.7 billion. Meanwhile, PENDLE price is down 16% in the same period. Pendle, the yield tokenization protocol that allows for the trading of yield-bearing crypto assets, has seen [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":33454,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/33453"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=33453"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/33453\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/33454"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=33453"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=33453"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=33453"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}