{"id":625790,"date":"2024-06-21T09:30:18","date_gmt":"2024-06-21T09:30:18","guid":{"rendered":"https:\/\/uniquehot.com\/?p=625790"},"modified":"2024-07-10T10:44:18","modified_gmt":"2024-07-10T10:44:18","slug":"follow-the-whales-arthur-hayes-buys-pendle-token-soars-25","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/follow-the-whales-arthur-hayes-buys-pendle-token-soars-25\/","title":{"rendered":"Follow The Whales? Arthur Hayes Buys Pendle, Token Soars 25%"},"content":{"rendered":"

Pendle (PENDLE), a cryptocurrency running a distributed finance (DeFi) system, has lately experienced price explosion. Among other things, positive developments in the Pendle surroundings and a well-publicized investment from seasoned businessman Arthur Hayes define this gathering. But concerns regarding token distribution could cloud Pendle’s long-term future.<\/span>
\n<\/span><\/p>\n

Related Reading: AI Crypto Fetch.ai (FET) Makes \u2018Big Bounce\u2019 \u2013 Volume Spikes Over 200% Ahead Of Merger<\/a><\/div>\n

Hayes Fuels The Fire: Crypto Whale Ignites Investor Confidence<\/strong><\/h2>\n

The recent price increase might be partially ascribed to a calculated action by BitMEX co-founder Hayes, a well-known player in the crypto market.<\/span>
\n<\/span><\/p>\n

After Hayes made public his purchase of Pendle tokens, a move seen by many as a sign of faith in the project, Pendle totalled a 25% climb from its lowest point this week to an intraday peak of $6.21.<\/p>\n

\n

After Arthur Hayes(@CryptoHayes<\/a>) tweeted that he is adding $PENDLE<\/a> and $DOGE<\/a> to his bags, one of his wallets bought 92,339.6 $PENDLE<\/a>($554K) through #Wintermute<\/a>.<\/p>\n

He transferred 2.05M $USDC<\/a> to #Wintermute<\/a>, then received 280 $ETH<\/a>($1M) and 92,339.6 $PENDLE<\/a>($554K).\u2026 pic.twitter.com\/wo2Sl4245B<\/a><\/p>\n

\u2014 Lookonchain (@lookonchain) June 20, 2024<\/a><\/p><\/blockquote>\n

This support from a seasoned investor with a proven track record, such as Hayes’ participation with the rapidly expanding USDe stablecoin, has surely raised investor mood towards Pendle.<\/span>
\n<\/span><\/p>\n

\"\"<\/p>\n

Pendle’s Ecosystem Takes Flight: TVL Skyrockets, User Base Expands<\/strong><\/h2>\n

Beyond Hayes’ impact, Pendle’s own inner growth is fueling the present momentum. One important indicator of the overall value of crypto assets placed within the protocol, the project’s total value locked (TVL), has seen a notable increase.<\/span>
\n<\/span><\/p>\n

\"\"<\/p>\n

The increase in TVL suggests that progressively more individuals are utilising Pendle’s DeFi features. Some of them reach as high as 25%, so these characteristics enable customers to get incredible profits on their crypto assets.<\/p>\n

That is far better than what most consumers obtain from conventional assets such as short-term US Treasuries.<\/span> Furthermore, the increasing number of Pendle token holders indicates a rising and engaged protocol user base.
\n<\/span><\/p>\n

<\/p>\n

Total crypto market cap at $2.28 trillion on the 24-hour chart: TradingView.com<\/a><\/pre>\n
A Cloud On The Horizon: Token Distribution Raises Concerns<\/strong><\/h3>\n
Although Pendle’s present situation seems bright, the project’s tokenomics\u2014a small number of addresses control a significant amount of Pendle’s circulating supply\u2014may provide a challenge.<\/span>
\n<\/span><\/p>\n
Future market manipulation under this concentrated ownership arrangement could result from Moreover, the scheduled distribution of extra tokens into use begs questions regarding possible dilution of current token value.<\/p>\n
Related Reading: Bitcoin Whales On The Move \u2013 Is A $100,000 Price Tag Coming?<\/a><\/div>\n
Balancing Growth With Sustainability<\/strong><\/h3>\n
Pendle’s recent price increase and favourable changes in the ecology portray a good picture, but the token distribution strategy poses a big obstacle. The success of the token going forward will depend on its capacity to solve issues with tokenomics while encouraging sustainable development.<\/p>\n
Securing Pendle’s long-term depends mostly on widening the user base and diversifying token ownership.<\/p>\n
Featured image from The Economist, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Pendle (PENDLE), a cryptocurrency running a distributed finance (DeFi) system, has lately experienced price explosion. Among other things, positive developments in the Pendle surroundings and a well-publicized investment from seasoned businessman Arthur Hayes define this gathering. But concerns regarding token distribution could cloud Pendle’s long-term future. Related Reading: AI Crypto Fetch.ai (FET) Makes \u2018Big Bounce\u2019 \u2013 Volume Spikes Over 200% Ahead Of Merger Hayes Fuels The Fire: Crypto Whale Ignites Investor Confidence The recent price increase might be partially ascribed to a calculated action by BitMEX co-founder Hayes, a well-known player in the crypto market. After Hayes made public his purchase of Pendle tokens, a move seen by many as a sign of faith in the project, Pendle totalled a 25% climb from its lowest point this week to an intraday peak of $6.21. After Arthur Hayes(@CryptoHayes) tweeted that he is adding $PENDLE and $DOGE to his bags, one of his wallets bought 92,339.6 $PENDLE($554K) through #Wintermute. He transferred 2.05M $USDC to #Wintermute, then received 280 $ETH($1M) and 92,339.6 $PENDLE($554K).\u2026 pic.twitter.com\/wo2Sl4245B \u2014 Lookonchain (@lookonchain) June 20, 2024 This support from a seasoned investor with a proven track record, such as Hayes’ participation with the rapidly expanding USDe stablecoin, has surely raised investor mood towards Pendle. Pendle’s Ecosystem Takes Flight: TVL Skyrockets, User Base Expands Beyond Hayes’ impact, Pendle’s own inner growth is fueling the present momentum. One important indicator of the overall value of crypto assets placed within the protocol, the project’s total value locked (TVL), has seen a notable increase. The increase in TVL suggests that progressively more individuals are utilising Pendle’s DeFi features. Some of them reach as high as 25%, so these characteristics enable customers to get incredible profits on their crypto assets. That is far better than what most consumers obtain from conventional assets such as short-term US Treasuries. Furthermore, the increasing number of Pendle token holders indicates a rising and engaged protocol user base. Total crypto market cap at $2.28 trillion on the 24-hour chart: TradingView.com A Cloud On The Horizon: Token Distribution Raises Concerns Although Pendle’s present situation seems bright, the project’s tokenomics\u2014a small number of addresses control a significant amount of Pendle’s circulating supply\u2014may provide a challenge. Future market manipulation under this concentrated ownership arrangement could result from Moreover, the scheduled distribution of extra tokens into use begs questions regarding possible dilution of current token value. Related Reading: Bitcoin Whales On The Move \u2013 Is A $100,000 Price Tag Coming? Balancing Growth With Sustainability Pendle’s recent price increase and favourable changes in the ecology portray a good picture, but the token distribution strategy poses a big obstacle. The success of the token going forward will depend on its capacity to solve issues with tokenomics while encouraging sustainable development. Securing Pendle’s long-term depends mostly on widening the user base and diversifying token ownership. Featured image from The Economist, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":625796,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[230,6664,88164,92056],"class_list":["post-625790","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-arthur-hayes","tag-crypto","tag-memecoins","tag-pendle"],"acf":[],"yoast_head":"\nFollow The Whales? Arthur Hayes Buys Pendle, Token Soars 25%<\/title>\n<meta name=\"description\" content=\"Pendle (PENDLE), a cryptocurrency running a distributed finance (DeFi) system, has lately experienced price explosion. 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/uniquehot.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Follow The Whales? 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