There are important developments for an altcoin in the world of crypto money today. Whale activity has increased in the altcoin market, with the world’s leading cryptocurrency exchange Binance recently listing Pendle (PENDLE) in the Innovation Zone. We cover the latest developments surrounding the altcoin PENDLE. We also look at notable whale holdings on Binance and their potential impact on token value.
Binance lists altcoin Pendle (PENDLE) in innovation zone
Famous cryptocurrency exchange Binance announced today that it has added altcoin Pendle (PENDLE) to its Innovation Zone. This move aims to spur growth and accessibility for this promising altcoin. Specifically, withdrawals for PENDLE are scheduled to begin on July 4, 2023 at 13:00 Turkish time.
In response to Binance’s PENDLE listing, the leading cryptocurrency platform Lookonchain made important statements. Accordingly, the exchange has reported significant whale activity related to the altcoin PENDLE. The three whales invested significant sums of money, laying the groundwork for potential market influence.
“Beware the selling pressure on PENDLE!”
Lookonchain emphasizes that selling pressure on PENDLE should be monitored, as deposited tokens are likely to be sold once the transaction begins. In the past 2-3 hours, the three whales have collectively deposited 5.6 million PENDLE (equivalent to $6.5 million). Here are the details of the amounts they deposited:
- Whale Hashkey: 2.4 million PENDLE ($2.8 million) was invested in Binance at an average cost of $0.04 per token.
- Whale 0x5542: 2.54 million PENDLE ($2.19 million) invested in Binance at a cost of $0.06 per token.
- Whale 0xa9E9: 1 million PENDLE ($1.16 million) deposited into Binance from the Vesting Distributor wallet.
PENDLE is trading at $1.15 at the time of writing
At the time of this writing, the altcoin PENDLE is currently trading at $1.15. As whale activity unfolds, investors and traders are carefully watching the market dynamics surrounding altcoin PENDLE. On the other hand, it predicts potential price movements and other developments. cryptocoin.com Looking at it personally, PENDLE’s recent listing on Binance has aroused great interest among whales, as evidenced by their significant deposits.
As the token continues to be traded, market participants are paying particular attention to selling pressure. On the other hand, there are caveats to its potential impact on altcoin PENDLE’s price trajectory. Because when the whale activity is towards the stock markets, it clearly means selling. On the other hand, with the sale, there is a significant decrease in the price. At this point, it is extremely important for investors to act especially knowing this fact.
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