Governance token Pendle has fallen 20% this week amid declines in the value of assets locked on the platform. AAVE, LDO also saw prices decline by more than 10% after a major investor transferred $10 million in tokens to Binance.

Cryptocurrencies in the decentralized finance (DeFi) sector have been hit harder than the broader cryptocurrency market this week, with CoinDesk's DeFi index down 9% from its Monday high while the CoinDesk 20 benchmark fell 5% over the same period.

Tokens from other major DeFi platforms such as Aave and Lido were also among the biggest losers, falling 10-15% over the same period. The decline came after a major crypto investor transferred $6.2 million in LDO and $4.5 million in AAVE to crypto exchange Binance, likely for a token sale.