Crypto News

Pendle Drops 7% Amidst Significant On-Chain Movements

Pendle’s value plunged 7% today, coinciding with notable on-chain activities involving major $PENDLE holders.

A previously inactive whale moved 755,000 $PENDLE, valued at $3.83 million, to Binance.

This whale still holds 4.27 million $PENDLE, worth approximately $21.7 million, with an estimated total profit of $22.8 million, reflecting an 843% gain.

Meanwhile, Arthur Hayes (@CryptoHayes) locked 1.65 million $PENDLE, worth $8.4 million, until September 5, just an hour ago.

His unrealized profit from these holdings stands at $4.31 million, representing a 113% increase.

These substantial transactions have likely contributed to Pendle’s price volatility, signaling potential shifts in market sentiment and trading dynamics.

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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