Pendle

Date: Sat, Sept 21, 2024, 09:31 AM GMTThe cryptocurrency market saw a notable move today, as Arthur Hayes, the co-founder of BitMEX and CIO of Maelstromfund, began selling off a significant portion of his $PENDLE holdings. According to data from <a href="https://x.com/lookonchain/status/1837401209835344362" rel="noopener noreferrer nofollow">Lookonchain</a>, Hayes has offloaded 1.27 million $PENDLE (worth approximately $4.4 million) over the past two days. This accounts for 61% of his total $PENDLE holdings, leaving him with 820,000 $PENDLE, valued at around $2.85 million.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/47c765a224da4006859b9ced102f344c.png" />Sell-off on 21 Sept <img src="https://academy-public.coinmarketcap.com/optimized-uploads/7a8d7b5b748f40b8a5ebd8c2acf555bc.jpeg" />Sell-off on 20 SeptInterestingly, just nine days ago, Hayes took to Twitter to express his confidence in $PENDLE, predicting the token could reach $10. However, he <a href="https://x.com/CryptoHayes/status/1837389985324118212" rel="noopener noreferrer nofollow">tweeted </a>that they reduced their position to &#34;fund a special situation.&#34;Will This Affect the Token&#39;s Price?Despite the large sale by Hayes, $PENDLE has shown resilience. Over the past 24 hours, the token has traded at $3.51, with only a minor drop of 0.53%. This small dip is more likely due to overall market conditions rather than whale activity. In fact, $PENDLE has been one of the top-performing tokens in the last 30 days, surging by over 22%.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/f04416adc68b4ce0a4721c03b8d28719.png" />Source: CoinmarketcapPendle (PENDLE) operates a protocol allowing users to trade future yields through an Automated Market Maker (AMM) system.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/394a69bf60e14db2b4a8c4490e40f6aa.png" />Source: <a href="https://www.pendle.finance/" rel="noopener noreferrer nofollow">pendle.finance</a>The platform’s growth has been evident, with its Total Value Locked (TVL) reaching $2.6 billion, while total trading volume sits at a staggering $26.4 billion. This reflects a growing ecosystem, suggesting Pendle holds strong potential for future development despite recent sale.Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before making any investment decisions.Read More: <a href="https://coinsprobe.com/is-the-sui-network-sui-following-the-same-path-as-solana-during-the-2021-bull-run/" rel="noopener noreferrer nofollow">Is The Sui Network (SUI) Following the Same Path as Solana During the 2021 Bull Run?</a>

BitMEX Co-founder Arthur Hayes Offloads 1.27 Million $PENDLE – Will It Affect the Token's Price?

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