Pendle Protocol Gains Over 148% Over The Last 90 Days And Arthur Hayes Investment

Pendle, a protocol facilitating the tokenization and trading of future yield, has emerged as one of the standout projects in the cryptocurrency realm, boasting impressive returns over the last three months. 

With gains of 148% in the past 90 days, 137% in the last 30 days, and a notable 16% increase over the past week, Pendle has garnered attention from investors seeking lucrative opportunities.

Arthur Hayes, former CEO of BitMEX, recently injected $1.28 million into the Pendle protocol, further fueling its upward trajectory. Hayes strategically acquired half a million PENDLE tokens through the Binance platform, subsequently transferring them to his personal wallet. 

Hayes Owns 1.34 Million PENDLE 

His investment underscores the growing demand for financial protocols that offer innovative trading solutions. Presently, Hayes holds 1.34 million PENDLE tokens in his portfolio.

Despite its remarkable performance, Pendle experienced a slight setback with a 6% decline in value in the past few hours. This dip followed an on-chain activity that revealed Hashkey’s deposit of 699,980 PENDLE tokens ($2.19M) to Binance a few hours ago. 

Currently, Hashkey retains 666,687 PENDLE tokens ($2.09M), contributing to the price drop observed over the last 24 hours.

Pendle’s journey reflects the dynamic nature of the cryptocurrency market, characterized by periods of growth and occasional fluctuations. 

As investors navigate through these developments, the allure of innovative projects like Pendle continues to drive interest and investment in the ever-evolving crypto landscape.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Image Source: anaumenko/123RF // Image Effects by Colorcinch

Via: https://themerkle.com

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