๐ฃ๐DeFi enthusiasts, brace yourselves! Pendle's governance token took a 20% nosedive earlier this week. AAVE, LDO also dropped over 10% as a crypto whale moved $10M to Binance.๐ณ๐ธ
๐๐The DeFi sector was hit harder than a piรฑata at a kid's party, with CoinDesk DeFi Index losing 9% compared to the broader market's 5% decline. Pendle led the plunge, with short positions stacking up like a game of Jenga!๐ฒ
๐๐ฐPendle saw a $3B drop in locked assets (TVL). Analysts reckon users withdrew funds instead of rolling over positions at June's lock-up expiry. It's like everyone suddenly remembered they had other plans!๐โโ๏ธ๐จ
๐๐But don't lose hope! There's excitement around upcoming tie-ups, including the Symbiotic-Ethena-Mellow partnership. Fresh inflows, here we come!๐ง๐
๐๐A crypto whale transferred $6.2M worth of LDO and $4.5M in AAVE to Binance. Likely to sell the tokens, or maybe they're just tidying up their crypto closet?๐คทโโ๏ธ๐งน
๐๐ขMeanwhile, BTC and ETH are range-bound below their March peaks. But hey, rollercoasters are more fun with ups and downs, right?๐๐ข
What's your take on this? Drop your thoughts in the comments!๐๐จ๏ธ #DeFi #CryptoNews #Pendle #AAVE #LDO