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On-chain data shows a large amount of Pendle inflow into whale addresses a day after Arthur Hayes, co-founder of the BitMEX crypto exchange, sold the asset. Lookonchain's X post shows that Hayes sold 1.59 million Pendle (PENDLE) for $5.
The Pendle crypto has recently garnered investors' attention with a high momentum rally and defying the sell-off from large holders. The recovery trend initiated with the U.S. Federal Reserve rate cut speculation but gained stability with a key resistance breakout.
PENDLE is poised for a potential surge, with predictions indicating it could climb to $6 if it successfully closes above the $4.90 mark.
After a sell-off of 350,010 Pendle (PENDLE) tokens worth $1.26 million on Binance and Bybit, a post by former BitMEX CEO and co-founder Arthur Hayes on X (formerly Twitter) gained widespread attention. On September 21, 2024, Hayes posted that Maelstrom (Hayes family office fund) had reduced its PENDLE holding.
Arthur Hayes deposits $1.26M PENDLE, and retains $5.93M unlocked tokens. PENDLE hits 8-day high amid market recovery and whale activity.
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%). According to the crypto insights provider, Hayes bought 392,911 $PENDLE worth $2.2 million (~$5.6 per token) through Wintermute between May 20 and June 21.
The cryptocurrency market retains its bullish outlook for the second half of September as Bitcoin rigorously attempts to reclaim $60,000. Along with most major altcoins, the Pendle price showcased a notable uptick during Monday's trading session to hit a 50-day high of $3.68.
Bitcoin has once again surged above $60k causing the entire cryptocurrency market to turn bullish with tokens like Orchid (OXT), Osmosis (OSMO), Peercoin (PPC), and Pendle (PENDLE) causing a buzz due to their price performance.
Amid the crypto market hitting a crossroads near the weekend, the altcoins market is ending the week on a minor recovery note. With the increasing chances of a breakout rally next week, many altcoins offer a simple buy low, sell high opportunity.
Pendle price has been on an uptrend for the past seven days, becoming the best-performing real-world asset (RWA) token in that sector. PENDLE gained a staggering 27% in a week, bringing its market cap to $547 million.
TL;DR Pendle's Expansion: Pendle, a DeFi protocol, has launched Bitcoin yield pools, allowing BTC holders to explore new yield strategies and broaden their options within the DeFi ecosystem.
The global cryptocurrency market cap rose early Thursday as upside momentum during the Asian trading hours pushed Bitcoin (BTC) to a one week high above $58,400. Several altcoins followed suit, with outperformers being Sui (SUI) and Artificial Superintelligence Alliance (FET). Amid broader market gains, Nano (XNO) and NEM (XEM) also rose.
The floating yields on the bitcoin-linked LBTC token are from pools that went live on Wednesday. There's also a fixed-yield option of an annualized 10%.
Pendle, a decentralized finance (DeFi) yield trading protocol, has made a significant leap by expanding into Bitcoin (BTC) yield options.
Pendle (PENDLE) has made a bold move into Bitcoin yields by launching a new BTC pool, offering Bitcoin holders enhanced yield trading opportunities. With the introduction of the LBTC x Corn Pool, Bitcoin enthusiasts can benefit from diversified strategies, including higher returns, fixed yields, and more trading options.
Pendle's BTC pools expansion diversifies DeFi opportunities, enhancing yield strategies and fixed yield trading for Bitcoin holders. The post Pendle expands yield opportunities for Bitcoin holders with new BTC pools appeared first on Crypto Briefing.
Decentralized Finance (DeFi) Protocol Penpie recently fell victim to an exploit that took millions of dollars worth of several crypto assets. Pendle, the protocol Penpie is based on, addressed the incident in a post-mortem post, revealing to have prevented further losses worth over $100 million in users' funds.
In a swift and coordinated response, DeFi project Pendle successfully protected approximately $105 million from a potential drain following a significant hack involving Penpie, an independent yield optimizer built on the Pendle ecosystem.
Pendle secured $105 million after a Penpie hack. Attacker exploited $27 million; funds converted into 11,109 ETH.
In a post-mortem published on Wednesday, the decentralized finance (DeFi) protocol Pendle claimed to have safeguarded around $105 million in funds.
DeFi protocol Pendle says it saved around $105 million from being further drained following a $27 million hack of yield optimizer Penpie.
Bitcoin has recently faced a bit of turbulence, dropping from its previous high of $63,000. However, the analyst of Crypto Banter's The Sniper Trading show said that it's important to remember that the last low was around $49,000, and we are still maintaining higher lows, sitting comfortably at $59,000-$60,000.
Real World Assets domain cryptos are gaining attention steadily, and the upcoming September 2024 for MKR, ONDO, and, PENDLE, looks favorable for investment. Maker(MKR) MKR is loaded with positive fundamentals like the recent adoption by top crypto asset management Grayscale, which added MKR to its crypto investment list.
