Arthur Hayes family office fund sold a large chunk of the altcoin, Pendle (PENDLE), which is based on decentralized finance.
Hayes, who sold 1,59 million PENDLE at a price of $5.62m, suffered a $1.29m loss, as reported by the cryptocurrency tracker Lookonchain.
Lookonchain notes also that PENDLE ‘s price has risen by 24 % since his sale.
Hayes, an adviser to Pendle who was on social media for less than two weeks, had predicted that the stock would rise to $10.
The BitMEX cofounder announced on Saturday that his Maelstrom family office fund was decreasing its PENDLE holdings, indicating a future investment.
Even after the reduction it remains one of our biggest positions. PENDLE is still the market leader for crypto-interest rate derivatives. We plan to benefit from their success.
Our position has been reduced to finance a particular situation. In the near future, those who watch our pockets will be able to see what this is. .”
PENDLE was trading at $3.89 when this article was written. PENDLE, the 119th-ranked cryptocurrency by market capitalization, is currently trading at $3.89. It has lost nearly 4% over the last day. However it remains about 25% higher this month.
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The post Arthur Hayes Insinuates Next Crypto Investment Move after Maelstrom Dropped Part of PENDLE Position can be updated as new information becomes available.
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