{"id":32236,"date":"2024-06-11T10:23:00","date_gmt":"2024-06-11T10:23:00","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/pendle-price-outlook-as-whale-deposits-tokens-on-binance\/"},"modified":"2024-06-11T10:23:00","modified_gmt":"2024-06-11T10:23:00","slug":"pendle-price-outlook-as-whale-deposits-tokens-on-binance","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/pendle-price-outlook-as-whale-deposits-tokens-on-binance\/","title":{"rendered":"PENDLE price outlook as whale deposits tokens on Binance"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/06\/whale-feeding-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/06\/whale-feeding-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/06\/whale-feeding-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/06\/whale-feeding-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li><span style=\"font-weight: 400\">Pendle (PENDLE) price dips 3% to near key support area.<\/span><\/li>\n<li><span style=\"font-weight: 400\">A whale has deposited 755k PENDLE tokens on Binance.<\/span><\/li>\n<li><span style=\"font-weight: 400\">Arthur Hayes has also staked 1.65 million PENDLE, worth about $8.4 million.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">Pendle (PENDLE), the native token of the tokenization and future yield trading protocol Pendle Finance, has dropped 3% in the past 24 hours. <\/span><\/p>\n<p><span style=\"font-weight: 400\">PENDLE\u2019s price dip comes as a major whale deposits a huge chunk of the token on Binance likely for profit.<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, former BitMEX CEO Arthur Hayes has staked 1.65 million PENDLE until September.\u00a0\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400\">PENDLE price declines amid whale activity<\/span><\/h2>\n<p><span style=\"font-weight: 400\">According to CoinGecko data, PENDLE price hovered around 5.13 across top crypto exchanges, down 16% this past week.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The declines follow a broader market dip for <a href=\"https:\/\/coinjournal.net\/cryptocurrencies\/\">cryptocurrencies<\/a> after the Bitcoin price slipped below $68,000 on Tuesday. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Meanwhile, PENDLE price has struggled with sell-off pressure after last week\u2019s major unstaking of the token by crypto whale and former BitMEX CEO Arthur Hayes.<\/span><\/p>\n<p><span style=\"font-weight: 400\">On June 6, Lookonchain <\/span><a href=\"https:\/\/x.com\/lookonchain\/status\/1798652401467134213\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">reported<\/span><\/a><span style=\"font-weight: 400\"> that Hayes had unstaked 1.55 million PENDLE worth over $9.41 million. The unstaking saw PENDLE price dip from around $6.30 to lows of $5.34.<\/span><\/p>\n<p><span style=\"font-weight: 400\">On June 11, Lookonchain also shared on-chain data showing another major whale deposited millions worth of PENDLE to the Binance exchange. Specifically, the whale deposited 755,000 PENDLE tokens worth $3.83 million to the exchange.<\/span><\/p>\n<p><span style=\"font-weight: 400\">This whale initially withdrew 5.02 million PENDLE from Binance on August 18, 2023. At the time, the tokens were worth $2.73 million, with each token priced at $0.54.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Hayes stakes 1.65 million PENDLE<\/span><\/h2>\n<p><span style=\"font-weight: 400\">While Arthur Hayes unstaked a huge chunk of tokens last week, he\u2019s just <\/span><a href=\"https:\/\/x.com\/lookonchain\/status\/1800441671634882763\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">locked<\/span><\/a><span style=\"font-weight: 400\"> 1.65 million PENDLE worth $8.4 million. The new locked tokens are until September 5, 2024. Is this bullish for the token? <\/span><\/p>\n<p><span style=\"font-weight: 400\">Hayes has previously expressed an optimistic outlook for the rapidly expanding liquid staking derivatives finance (LSDfi) token. <\/span><\/p>\n<p><span style=\"font-weight: 400\">The Pendle ecosystem\u2019s <a href=\"https:\/\/defillama.com\/protocol\/pendle#information\">total value locked (TVL)<\/a> stands at over $6.52 billion, up 53% in the past 30 days.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">While PENDLE\u00a0 is now trading at price levels last seen in early May, bulls can retake control if they hold above $5.00. On the flipside, a dip below $5.00 could strengthen bears.<\/span><\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/pendle-price-outlook-amid-whale-activity\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Pendle (PENDLE) price dips 3% to near key support area. A whale has deposited 755k PENDLE tokens on Binance. Arthur Hayes has also staked 1.65 million PENDLE, worth about $8.4 million. Pendle (PENDLE), the native token of the tokenization and future [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":32237,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/32236"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=32236"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/32236\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/32237"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=32236"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=32236"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=32236"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}