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Surprisingly, a transfer was made from Pendle's ($PENDLE) developer ecosystem fund to the cryptocurrency exchange Binance.
Developers moved 1 million $PENDLE tokens, worth approximately $660 thousand, to the exchange, presumably for sale. Following the development, $PENDLE price decreased by more than 2%. At the time of writing this article, the token is trading at $0.6534.
The ecosystem fund in question had recently received 23 million $PENDLE tokens, or approximately $15 million, from a time-based contract locking system.
$PENDLE, a small-medium cryptocurrency with a market cap of $154 million, powers DeFi platform Pendle Finance, which also offers users the opportunity to trade tokenized versions of real-world assets.
When all the altcoins within the Pendle platform are examined, it is observed that they hold another 32.40 million dollars of $PENDLE tokens in their wallet addresses. In addition, it holds WSTETH worth $46.57 million, RETH worth $7.37 million, WBETH worth $6 million, and SFRXETH worth $6 million.
*This is not investment advice.
cryptopolitan.com
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