Co-founder of BitMEX and one of the most famous crypto commentators Arthur Hayes bought tokens of the Pendle project for $536,000. According to Lookonchain, he acquired 218,000 PENDLE — the main token of the protocol of the same name.
At the time of publication, the token is trading at $2.54, and the price has risen by 5% over the week. In recent weeks, there has been a positive sentiment around Pendle. The project is actively discussed thanks to its original yield tokenization model and income futures trading.
The purchase was made in two tranches
On the X platform, analysts from Lookonchain noted a fresh deal by Arthur Hayes. He bought PENDLE for a total of $536,000. The tokens were bought in two tranches: first 105,000, then another 113,000. In total — 218,000 tokens.
Hayes’ token purchase. Source: Lookonchain
The deal took place shortly after Bloomberg included Pendle in one of its main indices — Galaxy DeFi. This is an important step that brings the project closer to traditional finance.
Pendle offers a unique approach to trading future yield. It helps traders maximize profits using AMM contracts specifically tailored for assets whose value decreases over time. The protocol’s growing popularity in recent weeks is associated with a series of updates and strategic partnerships. All this fuels interest and supports the token price.
What will happen next with the PENDLE price?
On the 4-hour chart, PENDLE has started to show the first signs of life after a prolonged decline. The price has moved back above the 50-SMA — a signal that buyers are gradually returning. The shift is small, but after a long drop, it looks encouraging.
Now the focus is on the next milestone: the 200-SMA around $2.70. This is where the market will face real resistance. If the price breaks through this level and consolidates above it, there will be a chance for recovery. Otherwise, it may be just a short-term bounce before another cooldown.
Pendle price dynamics. Source: TradingView
Pendle’s fundamentals remain strong despite the correction. TVL is still above $4.6 billion, and the protocol continues to earn steady annual fees. This shows that network activity has not disappeared, even if the token price has temporarily dropped.
Pendle is getting a chance for a reversal
According to DeFiLlama, Pendle‘s metrics look quite confident, especially as the market gradually moves from a phase of weakness to the first signs of recovery.
Pendle Finance metrics chart. Source: DeFiLlama
The main thing now is to break through and stay above the 200-SMA. If this succeeds, sentiment around the token could quickly turn positive.
Interestingly, the rise from local lows is not happening for no reason. Volumes began to grow after a sluggish November. It’s not a spike, but enough to understand that traders are looking at Pendle again.
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Open interest also indicates a gradual return of activity. After a sharp correction in October, the market remained balanced, without overheated positions. Now positions are being built up slowly and without hype. Such growth looks much healthier than a sharp pump on hype.
Pendle momentum indicators chart. Source: TradingView
On the 4-hour chart, PENDLE continues to slowly climb up, but indicators are already signaling overheating.
RSI has approached the overbought zone, and MACD, although still positive, is just starting to turn. Such signals do not mean an immediate trend reversal, but often precede a short pause before the next move.
