jakiro
Author: Jack Inabinet, Bankless; Compilation: Deng Tong, Bit Chain Vision World Realm
The end of an era?After waking up, PENDLE holders found that their holding value dropped by nearly 8%on the day.What causes the price to decline, can the income segmentation agreement continue to provide greater upward space?
With a two -and -a -half weeks of rising support in the middle of last month, Pendle’s relative valuation exceeded the BTC nearly 300%during 2024, and the tokens reached a record high on BTC on April 6, and thenUnder resistance at the level of 0.0001.
Although the total value (TVL) in the PENDLE smart contract reached $ 5.4 billion on Wednesday, it experienced the largest capital outflow since yesterday. After the five independent capital pools expired, its deposit lost 18%.
The demand for PENDLE is promoted by the leveraged speculation of the integral plan and its expected future airdrop, but the arrival of the distribution of Ether.Fi, Ethena and Renzo recently has greatly reduced the implicit return of speculators from the target assets.Essence
The decline in yields led to a significant decline in transaction activities. Wednesday trading activities were only 23 million US dollars, the lowest record since January, and the daily transaction volume of about 250 million U.S. dollars that PENDLE promoted PENDLE in the last period of the last period of PENDLE has decreased significantly.
The compression of the transaction activity caused the rate of return of liquidity providers to decline sharply, and their failure to indicate that the attractiveness of the PENDLE yield opportunities decreased at the expiration, which led users to transfer funds to other places.
Pendle has always been one of the best DEFI assets performed in 2024, but considering that the airdrop distribution that users have been guessing are coming, maybe it is time to admit that the best day of the agreement has passed -at least in the foreseeable future isin this way.The protocol has been fully launched and rarely uses a lower income pool, such as STETH and AUSDT.
