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.

Big $PENDLE on-chain movements detected:

1. A dormant whale deposited 755K $PENDLE ($3.83M) to #Binance ~33 mins ago.

The whale has 4.27M $PENDLE ($21.7M) left with an est. total profit of $22.8M (+843%).

2. Arthur Hayes (@CryptoHayes) locked 1.65M $PENDLE ($8.4M) until Sep 5… pic.twitter.com/61Ew5uFFAx

— Spot On Chain (@spotonchain) June 11, 2024

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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Image Source: loft39studio/123RF // Image Effects by Colorcinch

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