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AltcoinsAltcoin Whale Deposits 11M PENDLE into Binance in a Transaction

Altcoin Whale Deposits 11M PENDLE into Binance in a Transaction

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A significant occurrence involving a whale has recently unfolded in the cryptocurrency market. Lookonchain, a well-known provider of on-chain analytics, has brought attention to the activities of an altcoin whale that has conducted a substantial transaction involving $PENDLE tokens. The analytics platform took to its official account on X to share the specifics of this event.

According to Lookonchain, the whale has transferred out a staggering 1.1 million $PENDLE tokens, equivalent to $3.8 million, within the past hour. The whale intends to deposit these tokens into the popular crypto exchange, Binance, for the purpose of selling them. As a result of this transaction, the whale now holds approximately 1 million $PENDLE tokens, valued at around $3.5 million.

This noteworthy transaction sheds light on the significant stake the whale has in the $PENDLE token and showcases the whale’s strategic trading and investment maneuvers. It is worth noting that the whale began dealing with $PENDLE in early 2023. During the period between February 9 and April 27 of that year, the whale acquired a total of 3.44 million $PENDLE tokens from both decentralized and centralized exchanges at an average price of $0.32.

This recent activity demonstrates the whale’s confidence in the long-term value of $PENDLE. The substantial transfer of $PENDLE tokens to Binance indicates a continued interest in the asset, potentially indicating the whale’s belief in its lasting value.

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