Pendle (PENDLE), a DeFi protocol for yield market pioneers, continues to make waves in the cryptocurrency landscape. The recent surge in its price has prompted discussions about its future, hitting a new all-time high and sparking numerous price predictions ranging from cautiously optimistic to extravagantly bullish. Arthur Hayes, BitMEX Founder, notably bought $500K in PENDLE as part of his “Buy in May” strategy, despite general crypto market downturns. However, he later offloaded his position in PENDLE at a loss, signaling a significant shift. Due to its potential, the cryptocurrency is positioned for possible liftoff. Watchers speculate that whales' accumulation of the coin could lead to a price pump.
Despite a drop in TVL from its June high, investor optimism and recent listing on Upbit have fuelled a 50% price surge. Furthermore, the Pendle team transferred over 2M tokens, equivalent to around $11M, to Binance, indicating activity in the marketplace. However, like many other cryptocurrencies, PENDLE has experienced volatility, with price drops and stalls observed. Recent increased fund deposits and whale activity raise the question if PENDLE can exceed the $20 mark. There are reports of a DeFi protocol Penpie exploited for $27M of crypto assets that made a significant impression on the PENDLE token's performance. Despite this, Pendle claims to have salvaged $105 million following the $27M Penpie hack.
Different coins are also coming onto the market with similar features, yet PENDLE stands out among decentralized finance tokens due to its attempts at solutions in liquid restaking and tokenization.
PENDLE Coin News Analytics from Wed, 28 Apr 2021 12:31:25 GMT to Wed, 19 Feb 2025 05:46:00 GMT -
Rating 7
- Innovation 5
- Information 8
- Rumor 3
