Pendle

Token

Arthur

Million

You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/arthur-hayes-former-bitmex-ceo-makes-a-1-28-million-bet-on-pendle-token" rel="noopener noreferrer nofollow">Arthur Hayes, Former BitMEX CEO, Makes a $1.28 Million Bet on PENDLE Token</a> 
Arthur Hayes, the ex-CEO of the <a href="https://en.bitcoinhaber.net/public-bitcoin-focused-stocks-dip-following-spot-bitcoin-etf-launch" rel="noopener noreferrer nofollow">cryptocurrency</a> exchange BitMEX, has invested $1.28 million in the Pendle protocol, which specializes in the tokenization and trading of future yields. Hayes acquired 500,000 PENDLE tokens at a unit price of $2.57, according to on-chain data.
The investment was made through a purchase on the Binance exchange, after which Hayes transferred the half-million PENDLE tokens to his personal wallet. This move by a significant player in the crypto industry highlights the growing interest in financial protocols that offer innovative trading options.
Currently, Hayes holds 1.34 million PENDLE tokens, valued at approximately $3.54 million. This position has yielded an unrealized profit of $1.45 million, demonstrating the potential gains in the altcoin market for savvy investors.
Despite a recent 3.02% drop in PENDLE’s price, trading at $2.63, the altcoin experienced a price increase following Hayes’ substantial purchase, signaling market responsiveness to influential investments.
Pendle’s protocol offers a novel approach to handling future yields through its Automated Market Maker (AMM) system and its native asset PENDLE, which is used for governance, transaction fees, and other functions. With its total supply fully in circulation, PENDLE’s economic model is currently stable, barring any future changes to its issuance policy.
<h5>The post first appeared on BH NEWS: <a href="https://en.bitcoinhaber.net/arthur-hayes-former-bitmex-ceo-makes-a-1-28-million-bet-on-pendle-token" rel="noopener noreferrer nofollow">Arthur Hayes, Former BitMEX CEO, Makes a $1.28 Million Bet on PENDLE Token</a></h5>

Arthur Hayes, Former BitMEX CEO, Makes a $1.28 Million Bet on PENDLE Token

BH NEWS

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