Arthur Hayes, founder of BitMEX, has sold 350,000 PENDLE tokens, worth $1.26 million, at a considerable loss. Hayes purchased these tokens at an average price of $5.6 per token between May and June 2024, and he is still holding some of them.
Arthur Hayes Sells PENDLE Tokens
Arthur Hayes sold 350,000 PENDLE tokens at a loss of $790,000. Hayes acquired 392,911 PENDLE tokens through Wintermute, a major market maker, at around $5.6 per token. Over the past three months, PENDLE's price dropped by 40%, prompting Hayes to sell part of his assets.
Market Conditions and PENDLE
PENDLE's price fell by over 40% due to a market decline, resulting in significant losses for Hayes. However, the token has recovered by 4.24%, showing signs of bullish recovery.
Technical Analysis of PENDLE
MACD signals bullish momentum, while RSI nears the overbought level, reflecting strong buying interest.
Arthur Hayes has incurred losses from his PENDLE investments but still retains a significant holding. Despite current market challenges, technical indicators suggest a potential recovery for the token.
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