According to Odaily, Pendle's Total Value Locked (TVL) has seen a significant drop of approximately 43% in the past week. The TVL fell from its peak of $62.4 billion on June 27 to just $35.4 billion today. The data panel indicates that the daily average TVL has decreased by $123 million compared to yesterday. The downward trend, compounded by market conditions, is likely to continue in the short term.
There are two main reasons for this decline. Firstly, a large number of LRT PT expired on June 27, leading to a withdrawal of funds. Notably, Sun Yuchen alone redeemed tokens worth $293 million. Secondly, the yield of PT/YT has plummeted, and the general sentiment towards the points system has turned sour. The yield of PT has fallen to below 10%, and the launch of new coins on the pledge agreement did not meet expectations, leading to a noticeable decrease in the demand for YT purchases.
