Pendle, known for tokenizing and trading future yield, has reached a new milestone as its native asset surges to an annual high of $2.791.
The protocol’s developers facilitated this surge by depositing millions of PENDLE tokens to the Binance exchange.
Two wallets, likely owned by investors in Pendle, deposited 477,211 PENDLE ($1.27M) at an average price of $2.66 to Binance as Pendle reached its new high today.
As $PENDLE reached its new ATH today, two wallets (likely investors of @pendle_fi) deposited 477,211 PENDLE ($1.27M) to #Binance at ~$2.66.
Notably, they vested 1.06M $PENDLE in 2022 and 2023, when the price was only ~$0.146!
Now still hold 487.5K $PENDLE ($1.31M) and are… pic.twitter.com/y1t19VC6ey
— Spot On Chain (@spotonchain) January 30, 2024
Remarkably, these investors vested 1.06M PENDLE in 2022 and 2023 at a price of just $0.146.
Holding the token for two years enabled them to amass $2.42M (a 17x increase) and maintain holdings of 487.5K PENDLE ($1.31M).
4.043 Million PENDLE Deposited To Binance
During the recent 24-hour surge, a total of 6 wallets, predominantly owned by investors, deposited 4.043M PENDLE ($10.97M) to Binance at an average price of ~$2.71.
In the last 24 hours of pump, 6 wallets (mostly investors) have deposited 4.043M $PENDLE ($10.97M) to #Binance at ~$2.71 on avg, notably including:
• 1.98M PENDLE ($5.4M) from Spartan Group (@TheSpartanGroup)
• 600K PENDLE ($1.63M) from multisig 0x811 (likely @pendle_fi team) https://t.co/dKPigYf0Xz pic.twitter.com/f9qh49dtNo— Spot On Chain (@spotonchain) January 31, 2024
Notable contributions include 1.98M PENDLE ($5.4M) from Spartan Group (@TheSpartanGroup) and 600K PENDLE ($1.63M) from multisig wallet 0x811 (likely owned by the Pendle team).
As of now, there are still 23.92M PENDLE ($64.3M) left in 4 wallets, signaling continued investor interest and confidence in the token’s potential.
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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Source: https://nulltx.com/pendle-token-hits-all-time-high-as-developers-deposit-millions-to-binance/