Arthur Hayes Purchases 155 Million PENDLE Tokens This Week

Arthur Hayes has retrieved 1.55 million PENDLE tokens.
Community concerned about price drop.
Hayes holds assets worth approximately $6.46 million.
Arthur Hayes, co-founder of BitMEX and a prominent figure in the crypto community, has retrieved 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. At an average purchase price of $2.24 per token, Hayes’ assets now have an unrealized profit of around $6.46 million.
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Notable Move by Arthur Hayes
What’s Happening in the Pendle Space?
Notable Move by Arthur Hayes
The reversal of the stake transaction has sparked debate and concern within the crypto community; many responded to the change in the fund position with a downward trend. However, another user, X, pointed out that Hayes had purchased more PENDLE tokens just five days ago at an average price of $6.15, offering a contrasting view on the matter.
PENDLE is a decentralized finance (DeFi) token associated with Pendle Finance (Pendle.fi), a protocol that allows users to tokenize and trade future yields. Hayes has expressed his support for Pendle.fi several times in the past, highlighting its potential as a significant futures trading platform within the DeFi space.
What’s Happening in the Pendle Space?
Prior to Hayes withdrawing his assets, the PENDLE price had risen to around $6.30 on June 6th. Following the transaction around 1:00 PM, the PENDLE price was above $6. At the time of writing, the PENDLE price had decreased by approximately 2% in the last 24 hours, hovering around $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 of his local bottom prediction, the Bitcoin price was $59,804, nearly 20% lower than the current price of $71,169.
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Disclaimer:
The information provided in this article does not constitute investment advice. Investors should be aware of the high volatility and risk associated with cryptocurrencies and should conduct their own research.