According to the monitoring of on-chain analyst @ai_9684xtpa, Pendle's TVL also plummeted along with the market.
In the past week, Pendle's TVL has decreased by about 43%, from the highest point of 6.24 billion US dollars on June 27 to only 3.54 billion US dollars today. Its data panel shows that the average daily TVL has decreased by 123 million US dollars compared with yesterday. The downward trend may not change in the short term due to the superimposed market.
The biggest reasons should be two points:
- 06.27 A large number of LRT PTs expired, resulting in the withdrawal of funds: Sun Yuchen alone redeemed 293 million US dollars of tokens;
-PT/YT yields plummeted, and everyone was generally tired of the points game: PT yields fell below 10%, and the launch of new coins in the staking agreement was less than expected, which also significantly reduced the demand for YT purchases.