According to Lookonchain, veteran crypto investor and CEO of BitMEX Arthur Hayes sold 350,000 $PENDLE tokens worth approximately $1.26 million at a loss of over $790K (~ -36%). Hayes bought the 392,911 $PENDLE for about $2.2 million (~$5.6 per token) through Wintermute between May 20 and June 21.
Arthur Hayes Sells $PENDLE Tokens
Lookonchain claimed that Hayes had been prompted to sell part of his $PENDLE holding at a 36% loss after $PENDLE dropped by over 48% in the last three months. Hayes moved the first 350K $PENDLE to ByBit and Binance on September 20.
Hayes' Investments in $PENDLE
According to crypto analyst Yujin (Ember), Hayes still holds 1.695 million $PENDLE worth over $6.1 million, which was past its locking period and ready for offloading. AI-driven crypto insights provider Spot On Chain confirmed that Hayes has seen an estimated profit of $1.09 million (~+18.2%) from $PENDLE to date.
Current Situation with $PENDLE
According to DefiLlama, $PENDLE saw significant growth in Q1 of 2024, and that momentum continued in Q2 when $PENDLE achieved its all-time high of $7.52 in April. CoinMarketCap’s $PENDLE chart revealed that the token rested in its support at $3.8 in mid-May but rebounded to over $7 by May 20. The data showed that $PENDLE closed May at $6.8 before starting June in the $4.6 to $6.3 range. However, $PENDLE continued on a bearish trend since May to the current price of $3.54, a drop of over 48%.
The situation with $PENDLE remains volatile despite significant investments and community support. Arthur Hayes' temporary losses highlight the market's unpredictability, but his long-term strategies and past predictions offer hope for continued success in the crypto market.
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