Investments made by well-known individuals in cryptocurrencies have always garnered attention. Just like Elon Musk’s influence on DOGE, a recent noteworthy event involving Arthur Hayes and WIF has caught the market’s eye.
What Altcoin Did Hayes Buy?
Based on on-chain data, Arthur Hayes, the co-founder of BitMEX who has been gaining increasing recognition lately, seems to have added approximately $500,000 to his already substantial position in a decentralized finance (DeFi) altcoin project.
According to data from Etherscan, an Ethereum (ETH) block tracking system, Hayes has acquired over 98,560 tokens from Pendle (PENDLE), a project that facilitates the tokenization and sale of future yields.
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Based on the information provided by Etherscan, Hayes, who also serves as an advisor to the Pendle project, currently possesses more than 1,555,697 PENDLE tokens, which are valued at over $7.7 million.
Approximately five days ago, around May 2nd, during a widespread correction in the crypto market, Hayes announced his intention to increase his investment in Pendle.
Will Bitcoin Experience a Surge?
Hayes also shared his perspective on BTC. According to the renowned investor, it is possible for Bitcoin (BTC) to experience a period of sideways movement until August.
Hayes commented on the matter:
Examining the price of Pendle, it is evident that it traded at $5.04, marking a 1.40% decrease in the last 24 hours. The market cap of Pendle appeared to have exceeded $1.2 billion.
In terms of trading volume for PENDLE, things seemed to be going well. Following a 38% increase, Pendle’s trading volume surpassed $81 million.
Disclaimer:
The information presented in this article should not be considered as investment advice. Investors should be aware of the high volatility and associated risks of cryptocurrencies and conduct their own research.
