Whale Deposits $3.84M in PENDLE on Binance, Accumulation Trend Continues

IconCryptoNewsTerminal Staff11 Jun, 2024

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Whale Deposits $3.84M in PENDLE on Binance, Accumulation Trend Continues

3 hours ago, a whale, with the address '0x208', deposited 755k PENDLE (~$3.84 million) to Binance. The whale had been accumulating PENDLE for the past 10 months at an average cost of $0.55 and still holds 4.266 million PENDLE (~$21.72 million). This move indicates continued accumulation and interest in the PENDLE token. It also suggests that the whale may be anticipating a price increase in the near future. PENDLE is a decentralized finance (DeFi) protocol that allows users to create and trade yield-bearing tokens. The protocol has gained significant traction in recent months, and its native token, PENDLE, has seen a significant price increase. The whale's deposit of PENDLE on Binance is a bullish sign for the token and the DeFi sector as a whole. It indicates that large investors are still interested in DeFi, and they believe that PENDLE has the potential to continue growing. ```

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