The Pendle TVL has experienced a significant decline of nearly 50% from its all-time high of $6.721 billion. This drop is attributed to the maturation of LRTs, leading to a notable crash in the TVL. The overall crypto market downturn is also a contributing factor that could exert further downward pressure on both the TVL and the PENDLE token prices.

Pendle, a pioneering DeFi protocol focusing on tokenization, has witnessed a substantial decrease in its Total Value Locked (TVL) since mid-June. This decline commenced on June 27th and has persisted with a consistent downward trajectory.

According to DefiLama, Pendle's current TVL stands at $3.49 billion, marking a sharp decline of almost 50% from its peak of $6.721 billion on June 10. The majority of its TVL is allocated on the Ethereum chain ($3.1 billion), with Arbitrum ($273.4 million) and Mantle ($114.63 million) following suit.

An analysis by a crypto and DeFi enthusiast on a social media platform suggests that the ongoing crypto market turmoil may exacerbate the reduction in Pendle's TVL.

A recent report unveils that the current trading volume is $21.7 million, as per data from Sentio. The market conditions indicate a challenging landscape with uncertainties in the short term.