A notable transaction has taken place as address 0xd7c…e9730 opened a substantial position of 505,000 $PENDLE, valued at approximately $2.24 million, just two hours ago.

This same address previously participated in a PENDLE trade during the token’s peak four months ago, acquiring it at $6.19 and selling at $5.14, leading to a loss of about $108,000. This recent move seems to signal a change in strategy for the investor.

Over the past week, $PENDLE has experienced a 23% increase, with its current price sitting at $4.29.

This rebound comes at a crucial time as Grayscale has identified the top 20 cryptocurrencies poised for potential growth in the next quarter.

While the list now includes promising assets like SUI, TAO, OP, HNT, CELO, and UMA, it notably removes tokens such as Render (RENDER), Mantle (MNT), ThorChain (RUNE), Pendle (PENDLE), Illuvium (ILV), and Raydium (RAY).

OKX Confirms $PENDLE Spot Listing 

In exciting news for $PENDLE enthusiasts, OKX has announced it will list $PENDLE for trading. Spot trading for the $PENDLE/USDT pair will commence at 7:00 AM UTC on September 27th, providing a fresh opportunity for traders and investors.

The combination of this recent large position opening, the token’s price recovery, and the forthcoming exchange listing could signal an optimistic outlook for $PENDLE.

As the market adjusts, it will be interesting to see how this dynamic plays out for both new and seasoned investors in the DeFi space.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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