Pendle’s TVL drops 40% after certain LRT markets mature
Quick Take Pendle saw a 40% decrease in its total value locked, dropping from $6.18 billion on June 27 to $3.7 billion now. The decrease in TVL is mainly attributed to the maturation of liquid restaking pools which matured on June 27.
DeFi protocol Pendle PENDLE -3.17% experienced a 40% decrease in its total value locked over the past week — going from $6.18 billion on June 27 to $3.7 billion now.
The large drop in TVL can be linked to the maturation of liquid restaking markets consisting of Ether.Fi’s eETH, Renzo’s ezETH, Puffer’s pufETH, Kelp’s rsETH, and Swell’s rswETH that were initiated earlier this year and matured on June 27, DL News first reported .
Pendle is a DeFi platform that allows users to trade yield-bearing crypto assets, such as staked ether and LRTs, in a more flexible way. With the Pendle protocol, the yield-bearing asset is separated into two components: the underlying token value and the yield element. This enables users to buy and sell either the underlying token or the yield without having to trade both at once. Market pools mature after a certain period.
In the first two quarters of this year, Pendle benefited tremendously from increased inflows from liquid restaking protocols — primarily in anticipation of airdrops such as EigenLayer.
Pendle had introduced a rollover feature in its application and provided a comprehensive guide to assist existing users in transitioning their liquidity to new pools. The mechanics of Pendle allowed users to claim the underlying assets and yield tokens, resulting in a notable decrease in TVL amid an apparent waning interest in EigenLayer-focused LRTs.
The project has rolled out several pools recently focused on another restaking protocol Symbiotic .
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Cooling Employment and Inflation Eases Fed Rate Hike Pressure, U.S. Mortgage Rates Fall for First Time in Six Weeks
The latest employment and inflation data show that the U.S. labor market is cooling, while the impact of the Iran war on July inflation may be less than previously feared. As a result, market expectations for a near-term rate hike by the Federal Reserve have declined.
How the SEC Could Clear the Way for 24/7 Stock Trading -- Barrons.com
Gold snaps four-day advance as yields ease, oil drops - Kitco PM Report
SanDisk Sets "Ultra-High" Long-Term Targets: Double-Digit Revenue Growth and 80% Gross Margin for FY2028-30, Stock Price Soars Nearly 20%
SanDisk expects that, for fiscal years 2028 to 2030, under non-GAAP metrics, the company’s gross margin will remain around 80%, operating margin around 75%, and adjusted free cash flow profit margin around 50%. The company commits to returning 100% of remaining cash to shareholders after completing business investments. The long-term target for growth in the input bit volume is mid- to high double digits, but the volume available for sale will be flexibly adjusted according to the need to optimize profitability. The company disclosed that eight major customers have signed long-term contracts, covering approximately two-thirds of the bit shipment volume for fiscal year 2028. The enterprise-grade flash memory TAM is projected to reach 1.2ZB by 2030.
Crypto prices
More
