Pendle (PENDLE), a DeFi protocol focused on tokenized yield trading, drew attention recently due to a reported surge in large whale transactions associated with its token.
According to data from on-chain analytics provider Lookonchain, five newly created wallets collectively withdrew 2.66 million PENDLE tokens from Binance.
This amount was valued near $7.9 million over the past five days, as reported by Lookonchain. This significant off-exchange movement suggests growing confidence among large holders and sets up a bullish price movement for PENDLE if accumulation continues.
Historically, large wi…
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