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The price of $PENDLE saw a rebound of about 15% today. After this price rebound, a notable withdrawal of token occurred involving a large investor. A few hours ago, this whale withdrew 851,298 $PENDLE tokens from Binance. The worth of these tokens is approximately $3.73 million. Pendle belongs to the real-world assets (RWA) category.
The $PENDLE price rebounded by ~15% today!
30 minutes ago, a whale withdrew 851,298 $PENDLE ($3.73M) from #Binance again after 6 months of inactivity with the token.
Currently, this whale holds 1.703M $PENDLE ($7.51M) and has an unrealized profit of $2.76M (+58.2%)!
Follow… pic.twitter.com/0M0uxyC9Zw
— Spot On Chain (@spotonchain) July 15, 2024
Inactive Whale Holds $7.51M in $PENDLE, Sees $2.76M Profit
This withdrawal occurred after six months of inactivity with the token, according to data shared by Spot On Chain. Currently, this whale holds a total of 1.703 million $PENDLE token. The worth of these tokens is around $7.51 million.
This large holding has resulted in an unrealized profit of $2.76 million to the whale, representing a 58.2% increase in value. The whale’s activity and the formation of higher prices suggest strong attention and trust in $PENDLE which can be a positive sign.
Investor Movements Suggest Pendle Price Rise
The actions of such large investors can cause great impact on the market mainly due to the fact that other investors may be encouraged to trade more.
The new price movement and the presence of whales may indicate the increase in $PENDLE price in nearest future. It is a perfect illustration that even the actions of a big investment firm can cause fluctuations in the market. These whales can impact significantly on the crypto market prices.
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