NFTs are taking a beating in 2025, and liquidation fears are rising among Azuki and Pudgy Penguin NFT holders. Earlier this morning, there were over 150 underwater Pudgy Penguins ecosystem loans through Blend, Blur’s NFTFi protocol, and hundreds of underwater Azuki loans on NFT lending protocol, BendDAO, after borrowers took advantage of the protocol’s slow oracle. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io