{"id":625790,"date":"2024-06-21T09:30:18","date_gmt":"2024-06-21T09:30:18","guid":{"rendered":"https:\/\/wncen.com\/?p=625790"},"modified":"2024-07-10T10:44:18","modified_gmt":"2024-07-10T10:44:18","slug":"follow-the-whales-arthur-hayes-buys-pendle-token-soars-25","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/follow-the-whales-arthur-hayes-buys-pendle-token-soars-25\/","title":{"rendered":"Follow The Whales? Arthur Hayes Buys Pendle, Token Soars 25%"},"content":{"rendered":"
Pendle (PENDLE), a cryptocurrency running a distributed finance (DeFi) system, has lately experienced price explosion. Among other things, positive developments in the Pendle surroundings and a well-publicized investment from seasoned businessman Arthur Hayes define this gathering. But concerns regarding token distribution could cloud Pendle’s long-term future.<\/span> The recent price increase might be partially ascribed to a calculated action by BitMEX co-founder Hayes, a well-known player in the crypto market.<\/span> After Hayes made public his purchase of Pendle tokens, a move seen by many as a sign of faith in the project, Pendle totalled a 25% climb from its lowest point this week to an intraday peak of $6.21.<\/p>\n After Arthur Hayes(@CryptoHayes<\/a>) tweeted that he is adding $PENDLE<\/a> and $DOGE<\/a> to his bags, one of his wallets bought 92,339.6 $PENDLE<\/a>($554K) through #Wintermute<\/a>.<\/p>\n He transferred 2.05M $USDC<\/a> to #Wintermute<\/a>, then received 280 $ETH<\/a>($1M) and 92,339.6 $PENDLE<\/a>($554K).\u2026 pic.twitter.com\/wo2Sl4245B<\/a><\/p>\n \u2014 Lookonchain (@lookonchain) June 20, 2024<\/a><\/p><\/blockquote>\n This support from a seasoned investor with a proven track record, such as Hayes’ participation with the rapidly expanding USDe stablecoin, has surely raised investor mood towards Pendle.<\/span> <\/p>\n Beyond Hayes’ impact, Pendle’s own inner growth is fueling the present momentum. One important indicator of the overall value of crypto assets placed within the protocol, the project’s total value locked (TVL), has seen a notable increase.<\/span> <\/p>\n The increase in TVL suggests that progressively more individuals are utilising Pendle’s DeFi features. Some of them reach as high as 25%, so these characteristics enable customers to get incredible profits on their crypto assets.<\/p>\n That is far better than what most consumers obtain from conventional assets such as short-term US Treasuries.<\/span> Furthermore, the increasing number of Pendle token holders indicates a rising and engaged protocol user base. <\/p>\n Although Pendle’s present situation seems bright, the project’s tokenomics\u2014a small number of addresses control a significant amount of Pendle’s circulating supply\u2014may provide a challenge.<\/span> Future market manipulation under this concentrated ownership arrangement could result from Moreover, the scheduled distribution of extra tokens into use begs questions regarding possible dilution of current token value.<\/p>\n
\n<\/span><\/p>\nHayes Fuels The Fire: Crypto Whale Ignites Investor Confidence<\/strong><\/h2>\n
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\n<\/span><\/p>\nPendle’s Ecosystem Takes Flight: TVL Skyrockets, User Base Expands<\/strong><\/h2>\n
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\n<\/span><\/p>\nTotal crypto market cap at $2.28 trillion on the 24-hour chart: TradingView.com<\/a><\/pre>\n
A Cloud On The Horizon: Token Distribution Raises Concerns<\/strong><\/h3>\n
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