Hey there, crypto enthusiasts! It’s time for a quick update on the latest DeFi drama. Brace yourselves because the rollercoaster ride continues with DeFi tokens taking a nosedive of 10%-20% this week. Leading the pack in this downward spiral is Pendle, losing a whopping $3 billion of its Total Value Locked (TVL).
What’s causing this meltdown, you ask? Well, it seems like the hype train for airdrop farming has come to a screeching halt, leaving investors feeling like they missed the last train out of Crypto City. To add salt to the wound, yields are also hitting rock bottom, making the once-lucrative DeFi space seem more like a barren wasteland.
As the crypto market remains stubbornly muted, DeFi tokens like Pendle are feeling the heat. The June expiry has further fueled the fire, contributing to the decline in TVL and creating a sense of panic among investors.
So, if you’re holding on to your DeFi tokens for dear life, you might want to buckle up and brace for more turbulence ahead. The crypto market is a wild ride, and it seems like we’re in for a bumpy journey. Stay tuned for more updates as we navigate the stormy seas of the crypto world.
