A major whale identified as 0xC54…4d62E, once the second-largest holder of $PENDLE, recently transferred 250,000 $PENDLE tokens to Binance.
Valued at $1.13 million, this move, if sold, would net the whale a substantial profit of $1.03 million.
This whale initially acquired $PENDLE at a cost of just $0.35 per token, taking advantage of the low prices during the bear market between February 8 and October 20, 2023.
Over the past three months, the whale has systematically sold off 2.68 million tokens, amassing approximately $12.33 million at an average selling price of $4.58.
曾经 $PENDLE 持仓排行第二的巨鲸 0xC54…4d62E 再次通过中转地址向 #Binance 充值 25 万枚 PENDLE，价值 113 万美金，若卖出将获利 103 万美金
这位巨鲸的建仓成本仅为 $0.35，是在熊市（2023.02.08 – 10.20）低点建仓的；过去三个月已疑似卖出 268 万枚代币（约 1233 万美金），均价 $4.58🙌… https://t.co/UNE1IiSUEK pic.twitter.com/qpPyNTmwHZ
— Ai 姨 (@ai_9684xtpa) July 22, 2024
$PENDLE Token Reacts To Recent Transfers
The recent transfer and potential sell-off have contributed to a 5% decline in $PENDLE’s value over the past 24 hours. This decline underscores the significant influence that large holders can have on a token’s market price.
$PENDLE’s journey has been marked by considerable volatility, with substantial gains and periodic sell-offs. The whale’s strategic purchases at low prices and subsequent sales at higher prices highlight the lucrative potential for those who time the market well.
As the market reacts to these large transactions, other investors and traders should remain cautious and closely monitor whale activity, which can lead to sudden and significant price movements. The recent sell-off serves as a reminder of the impact that major holders can have on the market dynamics of cryptocurrencies.
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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