Whale activity around $PENDLE is intensifying, with significant accumulation taking place. Notably, the wallet 0xB757 withdrew another 400,000 $PENDLE (valued at $1.98 million) from Binance just 10 minutes ago.
Over the past 10 days, this whale has withdrawn a total of 1.28 million $PENDLE, worth approximately $6.37 million.
This surge in whale interest comes as Pendle Finance unveils Boros, a cutting-edge platform designed to redefine yield trading by enabling margin trading with unparalleled capital efficiency. Formerly known as Pendle V3, Boros represents a transformative upgrade within the Pendle ecosystem, placing a strong emphasis on funding rates—an underexplored yet critical aspect of crypto yields.
Pendle Finance has also announced an exciting airdrop for vePENDLE holders. A snapshot of eligible accounts will be taken on December 31, 2024, at 23:59 UTC. Tokens will be distributed proportionally to individual vePENDLE holders, excluding those using third-party liquid lockers.
The enthusiasm surrounding $PENDLE is further underscored by the impressive 57 million tokens currently locked in the protocol, reflecting strong community participation and confidence in the project’s long-term vision.
As Boros propels the Pendle ecosystem into a new era of capital-efficient yield trading, the rising whale activity indicates heightened market interest in $PENDLE’s potential. This pivotal development positions Pendle Finance as a leader in yield innovation, offering unique opportunities for investors seeking to capitalize on the rapidly evolving crypto landscape.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!
Image Source: jtdee23/123RF // Image Effects by Colorcinch
Binance and Franklin Templeton have officially launched a new institutional off-exchange collateral program, marking a…
Hyperliquid Strategies (PURR) has made a decisive move in the market, purchasing 5 million $HYPE…
Robinhood takes a major step into blockchain infrastructure with the launch of Robinhood Chain, a…
Bitcoin has erased all gains recorded since Donald Trump’s U.S. presidential election victory in November…
Tether has announced a strategic investment in LayerZero Labs, the company behind one of the…
Phantom has officially announced plans to roll out “Phantom Chat,” a native messaging feature scheduled…