This week, Pendle's governance token fell 20% amid a sharp decline in the value of assets locked on the platform. AAVE, LDO also experienced a price drop of more than 10% as a major investor moved $10 million worth of tokens to Binance. 😅

Cryptocurrencies in the DeFi sector have been hit harder than the overall crypto market this week. The CoinDesk DeFi Index is down 9% from its Monday peak, while the benchmark CoinDesk 20 is down 5% over the same period. 📉

Pendle's governance token led the decline, falling more than 20% throughout the Tuesday and Wednesday trading sessions. The protocol experienced a significant, $3 billion decline in the value of assets locked in the protocol, according to Defillama data. 😱

However, don't worry! “There will be noise at TVL in the short term due to the end of exclusive points programs, but we say we are excited around upcoming collaborations,” said Joshua Lim. 🤩

A major crypto investor known as a “whale” transferred $6.2 million worth of LDO and $4.5 million of AAVE to crypto exchange Binance early Wednesday. 🐳

The DeFi sector's struggles coincided with a stagnant period in the crypto market. ETH, the second-largest crypto asset, is down nearly 6% from Monday highs, erasing most of the gains it made in late May as prospects for regulatory approval of U.S. spot ETFs rose overnight. 📊

I'm curious what you think! I'm waiting for your comments! 😊#DeFi#Web3