A noteworthy transaction involving a major holder of Pendle tokens has emerged in the cryptocurrency market.
Yesterday, an early investor deposited 447,350 PENDLE, valued at approximately $1.74 million, into Binance. This investor had received 562,500 PENDLE tokens two years ago and had not sold any until now.
5 hours ago, an early investor of $PENDLE just deposited 447.35k $PENDLE (~$1.74M) to #Binance.
This one received 562.5k $PENDLE 2 years ago & hasn't sold any till now.
Address:https://t.co/pyHMvgMIUE pic.twitter.com/PEreLMlMwc
— The Data Nerd (@OnchainDataNerd) July 7, 2024
The early investors and participants who held their PENDLE tokens for two years are suspected to have liquidated their positions six hours ago, realizing estimated profits exceeding $1.7 million.
The address in question received a total of 562,000 tokens distributed by the Pendle project in April 2022 and 2023, when the prices were $0.1219 and $0.4921, respectively. Six hours ago, this investor transferred the remaining 447,000 tokens to Binance.
持有两年的 $PENDLE 早期投资者 / 参与者疑似在六小时前清仓获利，预计获利超 170 万美金！
该地址曾在 2022 年和 2023 年四月收到 Pendle 项目方分发的共计 56.2 万枚代币，当时币价还不到 0.5 美金😮（22 年接收价格为 $0.1219，23 年为 $0.4921）；六小时前他已将剩余 44.7 万枚代币全部充值进币安… pic.twitter.com/Mh7v5icDhq
— Ai 姨 (@ai_9684xtpa) July 7, 2024
Another Notable Move By This One-Time Second-Largest PENDLE Holder To Monitor
In another significant move, a whale who was once the second-largest holder of PENDLE recharged 720,000 PENDLE to Binance just five minutes ago.
If sold, this transaction could yield a profit of $2.275 million. This whale had bought 4,272,241 PENDLE in batches at an average price of $0.35 between February 8 and October 20, 2023, and still holds 1.37 million PENDLE.
曾经 $PENDLE 持仓排行第二的巨鲸五分钟前通过中转地址向 #Binance 充值 72 万枚 PENDLE，若卖出将获利 227.5 万美金
该巨鲸曾在 2023.02.08 – 10.20 期间以均价 $0.35 分批买入 4,272,241 枚 PENDLE，目前仍持有 137 万枚
持仓地址 https://t.co/I160xooCt2
出货地址 https://t.co/ZWLYVNHfwm https://t.co/7thBHEB6w1 pic.twitter.com/rkV8cgsGl1— Ai 姨 (@ai_9684xtpa) July 8, 2024
These substantial transactions have had a noticeable impact on the market, with the price of PENDLE declining by 12% over the past 24 hours and 33% over the past seven days. The actions of these significant holders, liquidating their positions and transferring large quantities of tokens to Binance, have contributed to the downward pressure on PENDLE’s price.
Overall, the movements by major PENDLE holders highlight the dynamic nature of the cryptocurrency market and the potential for significant impacts on token prices resulting from large transactions.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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