Pendle Team Transfers Over 2M Tokens to Binance in Major Move

• Recent EtherScan data shows the Pendle team transferred 2.025 million tokens to Binance.
• Arthur Hayes returns to PENDLE with a large transfer after a three-month hiatus.

According to recent on-chain data from EtherScan, the Pendle team has completed two notable transactions sending large quantities of PENDLE tokens to Binance.

Recent Transfers Bring Over 2 Million PENDLE Tokens to Binance

While an earlier transaction brought additional 525,000 PENDLE—about $3.37 million—to the market, the most recent purchase included 1.4 million PENDLE tokens, valued at roughly $7.74 million. These moves to Binance in a brief period total 2.025 million PENDLE tokens (worth about $11.11 million).

Meanwhile, as of writing, the PENDLE token is swapped hands at about $5.59; it has increased 3.38% over the last 24 hours and impressively 25.28% over the last 7 days. Current events and market strategic orientation are driving a growing PENDLE interest, which is consistent with this price increase.

Adding one more layer to this momentum, a prior CNF article revealed that BitMEX founder Arthur Hayes returned to PENDLE market activity following a three-month break. Renowned for his calculated actions in the crypto market, Hayes has moved 350,010 PENDLE tokens to Binance and Bybit.

Breaking a period of relative dormancy, this represents his first transaction since June 21, 2024. Hayes has a sizable 1.66 million PENDLE token ownership valued at roughly $5.93 million despite the recent move, indicating a belief in the asset’s potential nonetheless.

In another action meant to affect the liquidity and visibility of the token, Upbit, the biggest crypto exchange in South Korea, has revealed new trading pairings for PENDLE in the Korean Won and Bitcoin markets, according to CNF.

Especially in Asia, this addition of the PENDLE-Won and PENDLE-Bitcoin pairs on a prominent exchange is expected to offer new chances for investors.