Notable figures in the cryptocurrency world investing in projects often draw attention, akin to Elon Musk's influence on DOGE. Recently, Arthur Hayes was involved in a significant event related to WIF. The news of Hayes' recent investment has had a noticeable impact on the market.

Which Altcoin is Hayes Interested In?

Based on on-chain data, Arthur Hayes, co-founder of BitMEX, has reportedly increased his investment in a decentralized finance (DeFi) altcoin project by around $500,000. Specifically, he purchased over 98,560 tokens of Pendle (PENDLE), a project focused on enabling users to tokenize and trade future yields. Hayes is currently holding more than 1,555,697 PENDLE tokens, valued at over $7.7 million, as per Etherscan data.

Five days ago, around May 2nd, during a general cryptocurrency market correction, Hayes announced his intention to boost his investment in Pendle.

Bitcoin's Potential Movement

Hayes also shared his views on BTC, suggesting that Bitcoin might trade sideways until August after surpassing $60,000 with subsequent movements between $60,000 and $70,000.

Analyzing Pendle's price, it was observed to be at $5.04, reflecting a 1.40% decline in the last 24 hours. The market cap of Pendle seemed to be over $1.2 billion. PENDLE's trading volume surged by 38%, reaching beyond $81 million.

The original article can be found on COINTURK NEWS: "Arthur Hayes Increases Investment in DeFi Project Amid Market Corrections."