Arthur

Coin

<ul class="news-points">
 <li>Arthur Hayes unstakes $9.41M PENDLE, sparking market concerns.</li>
 <li>Hayes holds 1.69M PENDLE with $6.46M unrealized profit.</li>
 <li>PENDLE price slightly drops after Hayes’s transaction.</li>
</ul>
Arthur Hayes, co-founder of BitMEX, unloaded 1.55 million PENDLE tokens valued at $9.41 million, fueling concerns among PENDLE token holders. This move raises concerns about a potential price dump, given Hayes’s significant holdings of 1.69 million tokens and the possible impact on the market.
Hayes is an influential crypto trader. Currently, he <a href="https://x.com/lookonchain/status/1798652401467134213?s=46" target="_blank" rel="noopener noreferrer nofollow">retains 1.69 million</a> PENDLE tokens, with an average purchase price of $2.24 per token. This holding translates to an unrealized profit of approximately $6.46 million. Despite the recent un-staking, some believe Hayes’ commitment to PENDLE remains strong. Just days before this move, he acquired additional tokens at an average price of $6.15.
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 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Arthur Hayes(<a href="https://twitter.com/CryptoHayes?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@CryptoHayes</a>) unstaked 1.55M <a href="https://twitter.com/search?q=%24PENDLE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$PENDLE</a>($9.41M) 40 minutes ago and currently holds 1.69M <a href="https://twitter.com/search?q=%24PENDLE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$PENDLE</a>($10.26M), with an average buying price of $2.24. His unrealized profit on <a href="https://twitter.com/search?q=%24PENDLE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$PENDLE</a> is $6.46M.<a href="https://t.co/wmOyMVRRlD" target="_blank" rel="noopener noreferrer nofollow">https://t.co/wmOyMVRRlD</a><a href="https://t.co/YKyINyarvS" target="_blank" rel="noopener noreferrer nofollow">https://t.co/YKyINyarvS</a> <a href="https://t.co/wbON3mzlQC" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/wbON3mzlQC</a>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1798652401467134213?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">June 6, …</a>
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The post <a href="https://coinedition.com/bitmex-co-founder-dumps-pendle-stake-triggering-market-volatility/" rel="noopener noreferrer nofollow">BitMEX Co-Founder Dumps PENDLE Stake, Triggering Market Volatility</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

BitMEX Co-Founder Dumps PENDLE Stake, Triggering Market Volatility

Coin Edition

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