Hayes sells 350K PENDLE tokens at a loss but still holds 1.66M, valued at $5.93M.
Pendle recovers 4.24%, showing bullish signs despite Hayes’ partial exit amid market decline.
MACD signals bullish momentum as RSI nears overbought, reflecting strong buying interest.
Arthur Hayes, founder of BitMEX, has sold 350,000 PENDLE tokens, worth $1.26 million, at a considerable loss. Hayes had purchased 392,911 PENDLE tokens at an average price of $5.6 per token between May and June 2024; means he is still holding on to some.
Arthur Hayes(@CryptoHayes) sold 350K $PENDLE($1.26M) at a loss in the past hour.
He bought 392,911 $PENDLE($2.2M) at ~$5.6 through #Wintermute from May 20 to June 21.
3 months later, $PENDLE dropped by over 40%, prompting him to sell at a total loss of $790K (-36%).… pic.twitter.com/muuiX67m9M
— Lookonchain (@lookonchain) September 20, 2024
Pendle’s price has dropped by more than 40% due to a market decline, resulting in a total loss of $790,000 or approximately -36% on his initial investment.
Market Decline Forces Hayes’ Hand
According to blockchain data, Hayes originally acquired the tokens through Wintermute, a major market maker, bu…
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