Corporate Whale Can Sell the Altcoin It Collected 3 Months Ago on Binance: 40 Percent Loss!

A wallet belonging to Polychain Capital transferred 1.71 million PENDLE to Binance, risking losses of approximately $4.4 million.

According to recent posts shared by on-chain data and analysis platforms Lookonchain and Spot On Chain on Twitter, a wallet belonging to cryptocurrency-focused venture capital firm Polychain Capital transferred $6.97 million to Binance, the world's largest cryptocurrency exchange. transferred 1.71 million Pendle (PENDLE) worth. This transfer may herald a big loss.

The wallet of the company in question had withdrawn 1.71 million PENDLE from Binance between April 6 and April 23, 2024, for $11.4 million at an average price of $6.7. If these tokens are sold at the current price, the investor will suffer a 39.1% loss of 4.4 million dollars after approximately 3 months of waiting.

According to CoinGecko data, Pendle has lost 24% of its value in the last 30-day period and is showing signs of recovery in parallel with the rise in Bitcoin. PENDLE is available at $4.12 at the time of writing.