A new move has come from BitMEX former CEO Arthur Hayes, who is frequently mentioned with his statements and predictions about Bitcoin (BTC) and altcoins.
Hayes, who explains which altcoin he invested in or sold with his occasional posts, traded in a new altcoin.
At this point, on-chain data analysis platform Spot on Chain said in its post that Arthur Hayes bought 500,000 PENDLE (worth $1.28 million) from Binance.
While Hayes purchased Pendle at an average price of $2.57, he currently has 1.34 million PENDLE (worth $3.54 million).
It was stated that the estimated unrealized profit of the famous name was 1.45 million dollars.
“Arthur Hayes withdrew 500 thousand PENDLE (worth $1.28 million) from Binance during the day at $2.57.
It currently has 1.34 million PENDLE on hand (worth $3.54 million) and an estimated unrealized profit of $1.45 million.
PENDLE appears to be rebounding after the Hayes acquisition.”
After Hayes' purchase of PENDLE, the price started to rise and reached up to $2.68. At the time of writing, PENDLE price continues to trade at $2.54.
When we look at the famous name's portfolio, we see that there are altcoins such as Erhereum (ETH), WILD, MEOW, USDT, WETH, WBTC, SUSHI and ACH, apart from PENDLE.
As you may remember, in August 2023, Binance's investment arm, Binance Labs, announced that it had invested in Pendle Finance.
*This is not investment advice.