Pendle

In a remarkable turn of events, Pendle Finance&#39;s native token, PENDLE, has witnessed a significant surge in whale activity on July 3, subsequent to its highly anticipated listing announcement by Binance, the world&#39;s largest cryptocurrency exchange.Binance&#39;s Listing Announcement Sparks Excitement for PENDLEBinance made an <a href="https://www.binance.com/en/support/announcement/binance-will-list-pendle-pendle-in-the-innovation-zone-56c9c5899f3747b2b9a0452450f5eb24" rel="noopener noreferrer nofollow">official declaration</a> during the early hours of the day, revealing its plans to include PENDLE in its prestigious Innovation Zone. The token would soon be available for spot trading, commencing precisely at 10:00 (UTC).The Innovation Zone: An Exclusive Trading ArenaThe Innovation Zone on Binance is a specially tailored trading arena, specifically designed to accommodate new and &#34;innovative&#34; tokens that exhibit higher levels of price volatility and associated risks compared to their counterparts.Pendle Finance: Empowering Investors with Future YieldPendle Finance, which was launched in June 2022, operates as a permissionless DeFi protocol that grants investors access to future yield on assets by leveraging an automated market maker system (AMM).With its automated market maker system, Pendle Finance aims to revolutionize the decentralized finance landscape by enabling investors to unlock the potential of future yield on their assets.Whales Take Notice and Mobilize Ahead of ListingIn response to Binance&#39;s groundbreaking announcement, a notable number of PENDLE whales swiftly mobilized substantial quantities of the token onto the trading platform, eagerly anticipating its imminent listing.According to data provided by Lookonchain, an on-chain analytics firm, a total of 5.6 million PENDLE tokens, amounting to a staggering $6.5 million, were deposited by three influential whales, barely two hours after the official announcement.Hashkey and Notable Whales Contribute to the SurgeThe analytics platform further revealed that Hashkey, a renowned digital asset financial service firm, contributed significantly to this whale activity by depositing 2.4 million PENDLE tokens valued at $2.8 million onto the Binance platform upon learning of the listing.Furthermore, two other whales, identified by their respective wallet addresses &#34;0x5542&#34; and &#34;0xa9E9,&#34; made substantial deposits of 2.19 million PENDLE tokens worth $2.54 million and 1 million PENDLE tokens valued at $1.16 million, respectively. Lookonchain analysts interpreted these notable transactions as indicative of an imminent selling pressure, speculating that these whales may potentially offload their tokens once the trading commences.TechnicalAnalysis Predicts a Positive Outlook for PENDLEAlthough the current sentiment surrounding PENDLE is positive, as projected by the <a href="https://technicalanalysis.net/prediction/pendle-price-prediction" rel="noopener noreferrer nofollow">PENDLE price prediction</a> site TechnicalAnalysis.NET, remains neutral, the platform remains optimistic about the token&#39;s future prospects.Other site like PricePrediction.NET is also predicting a greate future for the <a href="https://priceprediction.net/en/price-prediction/pendle" rel="noopener noreferrer nofollow">PENDLE coin</a>.ConclusionAs Pendle Finance&#39;s native token, PENDLE, gains significant attention following its listing announcement on Binance, the cryptocurrency community eagerly awaits the subsequent trading activities and the impact it may have on the token&#39;s future trajectory.

Pendle Finance's Native Token, PENDLE, Experiences Surge in Whale Activity Following Binance Listing Announcement

RippleCoinNews.com

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