Pendle Price Down 37% in 30 Days

The Pendle price has been falling for the last 14 days.

According to CoinGecko, the price of Pendle has fallen 37.4% over the past 30 days. Before Jun. 25, the coin showed a dip below $5 but recovered to this range after the drops.

However, on Jun. 25, the price of Pendle rose to $6.01 but was unable to hold at that level and began to fall.

Pendle Price History Over 30 Days

According to CoinGecko, the major drops in the price of Pendle occurred in the last 2 weeks.

After the cryptocurrency rose to $6.01 on Jun. 25, PENDLE began a series of drops.

On Jun. 29, Pendle price dipped below $5 and reached $4.94. Then on Jul. 1, it managed to recover and rise to $5.17. However, the coin collapsed to $4.29 the next day.

On Jul. 5, the price of Pendle reached $3.33, its lowest value in the last 30 days. The cryptocurrency is currently trading in the $3.70 range.

The Pendle price history for the last 30 days. Source: CoinGecko

Pendle TVL Has Collapsed 49% in One Month

Pendle belongs to the category of so-called yield protocols in decentralized finance (DeFi) and operates as an Automated Market Maker (AMM).

According to DeFiLlama data, Pendle is the largest protocol among yield projects by Total Value Locked (TVL) with $3.36 billion.

At the same time, Pendle showed the biggest drop in TVL compared to the rest of the top 10 yield chains.

Pendle’s TVL has declined 49.79% over the past 30 days. Hyperlock Finance, which is ranked #7 in this rating, is close to this number. This protocol has lost 48.02% over the month.

The ranking of protocols by TVL in DeFi. Source: DeFiLlama

Other Derivatives Tokens Are Falling Too

According to CoinGecko, Pendle is the largest coin by market capitalization with $578.4 million among other derivatives coins.

As we noted above, the cryptocurrency’s price has fallen more than 37% in a month. However, many derivative coins have shown a red performance over the past 30 days.

In second place in this ranking is the coin Synthetix Network (SNX). The coin has collapsed 42.9% over the month.

WOO (WOO), which sits in third place by market capitalization, lost 46.1%.

The ranking of derivatives coins by market capitalization. Source: CoinGecko