Pendle, a notable coin in the cryptocurrency market, has drawn major attention recently, taking investors on a rollercoaster ride. As per noted statements, Arthur Hayes, a leading name in the crypto world, sold his
pendle position causing major speculations. The coin experienced a flurry of fluctuation with an encouraging trend, hitting a 50-day high amidst newly established Bitcoin-Linked pools. Predictions about it reaching a $5 mark were abuzz, adding to the momentum. However, it also faced a dicey moment when it underwent a whale dump, but it managed to defy the odds and retained its breakout momentum.New yield opportunities for Bitcoin holders, courtesy
Pendle's new BTC pools, gave it a favorable boost. Despite speculations of Arthur Hayes un-staking nearly worth $10M of Pendle, the coin managed to push through, indicating its stability in unpredictable markets. Its TVL (Total Value Locked) touched $1B, a significant benchmark that highlighted its strength in the DeFi domain.Still, umpteen facts drew attention to the downside. The
Pendle token price plunged between 10%-20% amid weak crypto price action. Price drops below $2 signaled potential red flags, raising questions about its longer-term sustainability. Furthermore, DeFi tokens led by Pendle experienced a major downturn. The coin's usage reportedly slowed down in early 2024, leading to doubts about its recovery.However,
Pendle stands as an appealing prospect for investors considering its ability to weather various storms. It has gratifying moments like when it bagged a 20% increase for the day despite offloads, and its price rallying significantly seeing institutional buying spree. Additional tools to its usability like the launch of new BTC pool, unveiling enhanced yield prospects are notable highlights.
PENDLE Coin News Analytics from Thu, 09 Nov 2023 08:00:00 GMT to Fri, 27 Sep 2024 19:40:13 GMT -
Rating 2
- Innovation 5
- Information 6
- Rumor -2
