Bitcoin Whale Dives into PENDLE Coin: Top 9 Cryptocurrencies to Watch!
- The crypto market witnessed a surge in buying pressure for Pendle (PENDLE coin) today, May 6th, following a significant purchase by a leading crypto whale and increased activities by institutional investors.
- On-chain analyst Yu Jin revealed that Arthur Hayes, co-founder of BitMEX, surprisingly purchased PENDLE tokens worth 500,000 USDC just five hours ago via leading crypto liquidity provider Wintermute.
- This latest acquisition contributes to Hayes’ existing assets, raising his total PENDLE portfolio to 1.555 million tokens, valued at approximately $8.08 million.
Arthur Hayes, co-founder of BitMEX, makes a significant purchase of PENDLE coins, sparking a surge in buying pressure and speculation of a bullish trend for the crypto asset.
Arthur Hayes Acquires PENDLE Coins
On-chain analyst Yu Jin revealed that Arthur Hayes, co-founder of BitMEX, surprisingly purchased PENDLE tokens worth 500,000 USDC just five hours ago via leading crypto liquidity provider Wintermute. This latest acquisition contributes to Hayes’ existing assets, raising his total PENDLE portfolio to 1.555 million tokens, valued at approximately $8.08 million. The data indicates that Hayes is strategically accumulating PENDLE. The recent purchase was made at a price of $5.07 per token, pointing to a potential buying frenzy at even lower prices in the past. Analysts estimate that Hayes’ average cost per PENDLE is around $2.02, showing a significant variable profit of $4.89 million. This also translates to a staggering investment return of 155%.
Smart Money Also Focuses on PENDLE and 9 Other Cryptos
Hayes’ significant purchase caused ripples in the cryptocurrency community and fueled speculations of a bullish trend for Pendle. This development comes amidst a broader trend of “Smart Money” increasingly allocating funds to the Ethereum (ETH) network. According to leading blockchain analysis platform Nansen, there has been a significant capital inflow into various Ethereum-based tokens in the last 24 hours, with PENDLE ranking among the top ten. The convergence of these developments (a significant whale accumula... Read the full article for FREE at COINOTAG!
