Breaking Crypto News – Pendle Unstaking: Insights from Arthur Hayes’ Move
Breaking Crypto News – Co-founder of BitMEX and well-known player in the cryptocurrency world Arthur Hayes unstaked 1.55 million Pendle (PENDLE) tokens for a total value of $9.41 million. Since Hayes presently owns 1.69 million PENDLE tokens, the unstaking of those coins has raised fears within the community regarding a potential price dump. Hayes presently has an unrealized profit of almost $6.46 million on his assets, with an average purchase price of $2.24 per token.
Before Hayes unstaked his tokens on June 6, the price of PENDLE peaked at about $6.30. Following the unstake transaction, the PENDLE price was higher than $6. The price of PENDLE was $5.94 at the time of writing, having decreased by about 1.95% in the previous day.
Community Reacts to Hayes’ Move
In the cryptocurrency community, the unstaking transaction generated debate and anxiety, with many people reacting negatively to the change in the placement of the funds. A different viewpoint was provided by an X user, who revealed that Hayes had bought additional PENDLE tokens just five days earlier at an average cost of $6.15.
Chill guys, its just 1 month stake unlocked. He just bought 600k more at an average price $6.15 days ago, why would he dump now?
an X user
FAQ
What is Unrealized Profit?
An investment that has not yet been sold for cash can result in a theoretical profit or deficit, sometimes known as an unrealized or “paper” gain or loss. When an investment is sold for a price that is different from where it was originally obtained, a realized profit or loss happens.
Who is Arthur Hayes?
American businessman Arthur Hayes was a co-founder and the CEO of BitMEX, a cryptocurrency exchange. 2008 saw him receive his degree from the Wharton School of Business. According to reports, Hayes is the world’s youngest African American cryptocurrency billionaire.
What is PENDLE?
PENDLE is a DeFi token linked to Pendle Finance. The Pendle Finance (Pendle.fi) protocol enables users to tokenize and trade future yields.
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