Pendle TVL Decline Q3 (2024) event

Event · PageRank 0.0008

Overview

Pendle's total value locked fell sharply in the third quarter of 2024 after peaking above $6 billion in late June 2024. A large cohort of liquid restaking markets — including Ether.fi's eETH, Renzo's ezETH, Puffer's pufETH, Kelp's rsETH and Swell's rswETH — matured on 27 June 2024, causing capital to roll off, and the points-and-airdrop narrative cooled following EigenLayer's token launch. By September 2024 TVL had fallen to roughly $1.9 billion. The protocol recovered later in the year as attention shifted toward stablecoin-yield markets.

Within the DeFi Intel graph, Pendle TVL Decline Q3 (2024) connects to 1 tracked entity, most strongly to Pendle TVL Surge (2024).

Relations

Top connections in the DeFi Intel knowledge graph (confidence-weighted, 1 of 1 total).

Frequently asked questions

Why did Pendle's TVL drop in Q3 2024?

A large batch of liquid restaking markets matured on 27 June 2024, so the capital in them expired, and demand for points-and-airdrop speculation cooled after EigenLayer's airdrop.

How far did TVL fall?

From a peak above $6 billion in late June 2024 to roughly $1.9 billion by September 2024.

Did Pendle recover?

Yes. TVL rebounded in the fourth quarter of 2024, helped by the broader market rally and growth in stablecoin-yield markets.