Pendle Coin has experienced a variety of market movements and attracted some notable attention. Despite concerns regarding the coin's potential for long-term growth, some experts suggest reaching $5.95 by May 2024, and potentially pushing past $10. A significant boost came from
Arthur Hayes, noted crypto personality and co-founder of BitMEX, who opted to invest heavily in Pendle, causing a noticeable surge. In contrast, potential warnings signs include a substantial
drop in volume of around 40%, signaling a possible exodus from Pendle by investors. Furthermore, despite hitting an ATH amid other DeFi tokens struggling, the crypto market's volatility caused Pendle's price to drop by 10%-20% alongside other DeFi tokens. The coin has also made remarkable recovery after domain hijack attempt. Pendle's integration with
Arbitrum for liquid restaking tokens, has caused a lot of excitement among investors, resulting in a rally in price. Pendle has managed to near a total value locked (TVL) of about $1B showcasing its growing popularity in DeFi space. However, alongside bull trends, bear indicator highlights include the possibility of the coin's price dropping after Arthur Hayes's move to sell. Looking ahead, continued
institutional buying and whale investments could potentially trigger more price rallies.
PENDLE Coin News Analytics from Thu, 09 Nov 2023 08:00:00 GMT to Thu, 15 Aug 2024 20:04:29 GMT -
Rating 5
- Innovation -4
- Information 7
- Rumor 3
