According to Odaily Planet Daily, on-chain analyst @ai_9684xtpa monitored that Pendle's TVL also plummeted along with the broader market. In the past week, Pendle's TVL has decreased by about 43%, from the highest point of $6.24 billion on June 27 to only $3.54 billion. Its data panel shows that the average daily TVL has decreased by $123 million compared to yesterday, and the downward trend may not change in the short term due to the superimposed market conditions. There are two biggest reasons: First, a large number of LRT PTs expired on June 27, resulting in the withdrawal of funds, and Sun Yuchen alone redeemed $293 million in tokens; second, the PT/YT yield rate plummeted, and everyone was generally tired of the points gameplay. The PT yield rate fell below 10%, and the new coin launch of the pledge agreement was less than expected, which significantly reduced the demand for YT purchases.
