Arthur Hayes Sells $1 Million Worth of PENDLE in Two Days

IconCryptoNewsTerminal Staff21 Sep, 2024

cryptonews.jpg

Arthur Hayes Sells $1 Million Worth of PENDLE in Two Days

Arthur Hayes, the founder of BitMEX, has sold $1 million worth of PENDLE in two days. According to EmberCN, “Yesterday, BitMEX founder Arthur Hayes sold 392,910 PENDLE ($1.41 million), and today he sold another 1,202,182 PENDLE ($4.20 million). His average price was $2.89, meaning that he has made a profit of about $1 million in the past two days. He now holds 493,463 PENDLE ($1.72 million). Hayes has previously stated that he has been reducing his PENDLE position, but he remains bullish on the project’s long-term prospects. PENDLE is a decentralized finance (DeFi) protocol that allows users to create and trade synthetic assets. The protocol is designed to be more capital-efficient than traditional DeFi protocols, and it has attracted a lot of attention from the cryptocurrency community. Hayes is a well-known figure in the cryptocurrency community, and his decision to sell PENDLE is likely to have a significant impact on the price of the token.

Related News