Charles Edwards, founder of cryptocurrency investment company Capriole Investments, announced the altcoin that he thinks is undervalued in his statement.
Edwards claimed that Pendle (PENDLE) is undervalued in the current market. The reason for this was that PENDLE has a TVL of $ 4.6 billion, which corresponds to 5% of the total locked value (TVL) of the current cryptocurrency world.
According to Edwards, PENDLE's total market cap accounts for only 14% of TVL's value, which makes the founder bullish on this altcoin. In addition, Edwards also pointed out that Ethena, which has just stepped into the cryptocurrency market and become extremely popular, and PENDLE work synergistically.
However, PENDLE is supported by Arthur Hayes, who was previously sentenced to house arrest in the USA on charges of violating anti-money laundering laws, and this name is known to have made some speculative moves. So PENDLE also involves this kind of additional risk.
In addition, Edwards evaluated the inflation data announced yesterday, which was above expectations, as follows:
“Inflation is rising again and more than expected. This is probably related to why we have seen liquidity start to decline in recent weeks. “If these two trends continue, it will not be good for cryptocurrencies.”
*This is not investment advice.