Despite the recent turmoil in the cryptocurrency market, Pendle stands out as a beacon of resilience, boasting a remarkable 22% gain today and showcasing bullish behavior across all timeframes.
Amidst the surge in price, Wallet 0x01f, believed to belong to a seasoned investor, has sprung back to life after nearly a year of dormancy. The wallet recently made a significant deposit of 400,000 PENDLE ($2.68 million) to Binance at a price of $6.71.
Wallet 0x01f (likely an investor) deposited the first 400K $PENDLE ($2.68M) to #Binance at $6.71 after a year of dormancy ~30 mins ago.
Notably, the wallet vested 1.8M $PENDLE from @pendle_fi in 2022 and 2023, at ~$0.147 ($264K),
And now still holds 1.4M $PENDLE ($9.42M).… pic.twitter.com/vaG5xtnHsM
— Spot On Chain (@spotonchain) April 15, 2024
What’s intriguing is the history of this wallet’s PENDLE holdings. Records indicate that between April 29, 2022, and April 28, 2023, the wallet received a substantial sum of 1.80 million PENDLE from the “Pendle Finance: Vesting Distributor” contract.
Remarkably, these tokens were acquired at an average price of only $0.147, amounting to a mere $264,000 investment.
Whale Pendle Address Holds Onto Holdings
Despite the impressive gains made during this period of dormancy, the wallet has continued to hold onto its PENDLE holdings, with a current balance of 1.4 million PENDLE, valued at $9.42 million.
The resurgence of Wallet 0x01f coincides with Pendle’s impressive performance in the market. Over the past 24 hours, the PENDLE price has surged by a staggering 22.57%, further solidifying its position as a standout performer amidst market volatility.
As investors navigate through turbulent waters, the resilience of Pendle and the strategic moves of seasoned participants like Wallet 0x01f serve as a testament to the potential and enduring appeal of the project in the ever-evolving cryptocurrency landscape.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service.
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