Arthur Hayes has reclaimed 1.55 million PENDLE tokens.
The community is concerned about the price drop.
Hayes holds assets worth approximately $6.46 million in profit.
Arthur Hayes, co-founder of BitMEX and a prominent figure in the crypto community, has reclaimed 1.55 million PENDLE tokens worth $9.41 million. With Hayes currently holding 1.69 million tokens, the retrieval of PENDLE tokens has raised concerns in the community about a potential price drop. With an average purchase price of $2.24 per token, Hayes’ assets currently have unrealized profits of around $6.46 million.
Contents
A Notable Move by Arthur Hayes
What’s Happening in the Pendle Front?
A Notable Move by Arthur Hayes
The reversal of the stake transaction has sparked debate and concern within the crypto community; many have responded to the change in fund position with a downward trend. However, another user, X, expressed a contrasting view by revealing that Hayes had purchased more PENDLE tokens just five days ago at an average price of $6.15, shedding a different light on the issue.
PENDLE is a decentralized finance (DeFi) token associated with Pendle Finance (Pendle.fi), a protocol that enables users to tokenize and trade future yields. Hayes has shown support for Pendle.fi in the past, highlighting its potential as a significant futures trading platform in the DeFi space.
What’s Happening in the Pendle Front?
Before Hayes withdrew his assets, the PENDLE price had risen to around $6.30 on June 6th. After the transaction that took place around 1:00 PM, the PENDLE price was above $6. At the time of writing, the PENDLE price has experienced a decrease of approximately 2% in the last 24 hours, settling at $5.97.
On May 3rd, Hayes predicted a local bottom for Bitcoin and suggested that prices would gradually rise in the coming months. At the time Hayes suggested a local bottom, the price of Bitcoin was $59,804, nearly 20% lower than the current price of $71,169.
Disclaimer:
The information provided in this article should not be taken as investment advice. Investors should be aware of the high volatility and risks associated with cryptocurrencies and conduct their own research.
