According to DL News, due to the expiration of multiple markets, users of the DeFi protocol Pendle have withdrawn nearly US$3 billion in deposits since last Wednesday, and the total deposit value has dropped to US$3.7 billion. The total locked value (TVL) has fallen by 40% in the past week.
Ian Unsworth, founder of Kairos Research, said that these outflows were mainly due to the expiration of some products. Ether.Fi's eETH, Renzo's ezETH, Puffer's pufETH, Kelp's rsETH, and Swell's rswETH on the Pendle market expired on June 27, resulting in a large outflow of funds. Pendle's outflows also affected the related protocol Zircuit, with the value of deposits falling by 15% in a week.