Decentralized finance (DeFi) platforms experienced a significant drop in fees last week, with reductions of up to 65% across major lending and decentralized exchanges (DEXs) such as Aave, Morpho, Maple, Uniswap, and Curve. Market operators attribute this decline to the unwinding of leverage following the early June selloff, rather than a structural issue within the DeFi ecosystem. Data from the past 30 days supports the operators' assessment, indicating that the fee reductions are a temporary response to recent market conditions. This trend highlights the impact of leverage dynamics on DeFi platforms, as traders adjust their positions in response to market volatility.