Arthur Hayes, the co-founder of BitMEX, has sold a significant portion of his $PENDLE holdings, amounting to 1.27 million tokens. The current value of these tokens is at approximately $4.4 million. According to Lookonchain data, this sale which accounts for 61% of his total holdings, leaves him with 820,000 $PENDLE worth $2.85 million.
Arthur Hayes(@CryptoHayes) sold 1.27M $PENDLE($4.4M) in the past 2 days, 61% of the total holdings, leaving 820K $PENDLE($2.85M).Just 9 days ago, he tweeted that he bet $PENDLE to $10.30 mins ago, he tweeted that they reduced their position to fund a special situation.⊠pic.twitter.com/J2gXRzzc2B
â Lookonchain (@lookonchain) September 21, 2024
Arthur Hayes Confident in $PENDLE Despite Recent Sale
Just nine days prior, Hayes expressed confidence in $PENDLE by tweeting that he expected its value to reach $10. However, he recently announced a reduction in his position to fund a âspecial situation.â In his latest tweet, Hayes noted that his family office fund, Maelstrom, is still one of the largest holders of $PENDLE, despite the recent sale.
Hayes did not hide the fact that in his opinion $PENDLE will be at the forefront of the sphere of the crypto interest rates derivatives market. He intends to benefit from the anticipated rise in the value of $PENDLE market even after he reduces his shares in $PENDLE. The specific reason for the reduction has not been disclosed. However, Hayes hinted that those who track crypto wallets will soon be aware of the developments.
Crypto Enthusiasts Await Details on Hayesâ âSpecial Situationâ
The crypto community is aware of a large transaction, reported by Lookonchain, notably because Hayes had shown strong support for $Pendle previously. His actions may influence other investors in the market. Because investors understand the future potential of $PENDLE and its role in crypto finance. As the situation develops, many will be watching closely to see how Hayesâs remaining holdings perform and what the âspecial situationâ entails.
