In a significant development, cryptocurrency whales have been aggressively accumulating $PENDLE tokens, sparking speculation that the asset may be grossly undervalued.
According to recent data, two major whales, identified by their wallet addresses 0xe1f5 and 0xB757, have withdrawn a staggering 1.76 million $PENDLE tokens (valued at $9.24 million) from Binance over the past seven days.
What’s noteworthy is that these whales have opted to lock their $PENDLE holdings until December 17, 2026, indicating a long-term investment strategy. This move has led analysts to question whether $PENDLE is being unfairly undervalued, particularly given its position as the number one yield trading protocol.
With a fully diluted valuation (FDV) of $1.2 billion, @pendle_fi appears to be trading at a significant discount compared to its peers. Furthermore, $PENDLE boasts an impressive ranking among the top six cryptocurrencies in terms of holder revenue. As the market continues to evolve, it’s likely only a matter of time before $PENDLE catches up with its counterparts, making it an intriguing prospect for investors.
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: nahumam/123RF // Image Effects by Colorcinch
In a major development, Bitget Wallet has announced the integration of Polymarket directly into its…
The Aave rsETH/wrsETH market froze abruptly, leading to a rapid series of withdrawals, including one…
Last week saw major investment firm Strategy Inc. (MSTR) bust into the crypto world with…
One of Bitmine Immersion Technologies came out to be the most aggressive in its cryptocurrency…
The RAVE controversy is now one of the most significant market integrity matters in recent…
A shocking turn of events followed on the cryptocurrency market when on-chain analyst zachxbt took…