Pendle Slips Amid Macro-Driven Crypto Selloff

The cryptocurrency market suffered a broad selloff on Monday, with Pendle (PENDLE) declining by 3.26% amidst rising oil prices and geopolitical tensions.

The main catalyst behind the decline was a macro shock that hit the entire crypto complex, rather than any specific issue with Pendle.

Pendle's stablecoin pools have processed over $6 billion in notional volume year-to-date, positioning the token as a growth story in the growing stablecoin total addressable market.