Key Insights:
- BitMEX co-founder Arthur Hayes purchased 218,000 PENDLE crypto worth $536,000.
- At the time of writing, $PENDLE token trades at $2.54 after it recorded a 5% uptick over the last seven days.
- Pendle protocol’s TVL is still above $4.6 billion, and the protocol continues to generate strong annualized fees and revenue.
Arthur Hayes, the BitMEX co-founder and a popular crypto KOL made a significant purchase of Pendle protocol’s utility token, $PENDLE. On-chain data provider Lookonchain spotlighted the transaction involving the purchase of 218,000 tokens valued a total of $536,000.
At the time of writing, $PENDLE was trading at $2.54 following a 5% uptick over the last seven days. The token has had a positive market sentiment over the past few weeks thanks to its innovative approach to tokenization and futures yield trading.
Arthur Hayes Buys PENDLE Crypto
Lookonchain spotlighted on X the latest transaction by BitMEX co-founder Arthur Hayes where the crypto KOL purchased $PENDLE tokens worth $536,000. The transaction which occurred in two batches involved 105,000 tokens initially, and was followed by a second batch of 113,000 tokens, totalling 218,000.
The buy comes just shortly after Bloomberg added the token’s parent protocol (Pendle) to TradFi’s most established benchmark indices, the Bloomberg Galaxy DEFI index.
Pendle protocol introduced an innovative approach to future yield trading that helps traders maximize returns using a special type of auto market maker (AMM) smart contract that is designed for assets that experience time decay. The protocol’s latest breakthroughs, particularly its updates and a set of strategic partnership has been the hallmark of its recent popularity and its bullish price.
What Next For PENDLE Price, Is $3.00 Inevitable?
Meanwhile, $PENDLE started to show signs of strength after a long stretch of selling on the 4-hour chart. The price has moved back above the 50-SMA, showing that buyers are starting to come back. It’s a small shift, but it matters after weeks of weakness.
Now the market is heading toward the 200-SMA near $2.70. That level is the real test. If price can break above it and stay there, the recovery has a chance to continue. If it fails, then this move is likely just a short bounce before the market cools off again.
What stands out most is that Pendle’s fundamentals remain solid despite the price correction. TVL is still above $4.6 billion, and the protocol continues to generate strong annualized fees and revenue. That stability shows that activity on the platform hasn’t disappeared, even while the token has been under pressure.
Overall, the market looks like it’s trying to shift from weakness to early recovery. If buyers can break and hold above the 200-SMA, the sentiment around Pendle could turn much more positive.
The recent lift from the lows is notable mainly because participation has finally started to return. Volume, which had been flat for most of November, is ticking up again. It’s not a surge, but it’s enough to show that traders are paying attention after weeks of waiting on the sidelines.
Open interest is telling the same story in a quiet way. After the sharp reset in mid-October, the market was left cleaner and less crowded. Now OI is rebuilding slowly, and that kind of steady climb usually means positions are being opened with patience rather than aggression. It gives the move a healthier feel.
On the 4-hour chart, price continues to grind upward, but momentum indicators are already signaling that the short-term swing is getting warm.
RSI is brushing the overbought zone, and the MACD, while positive, is still in the early stages of its turn. These signals don’t end a rally on their own, but they often precede a brief pause before the next push.