OKX has formally introduced the itemizing of Pendle (PENDLE) crypto coin on its spot buying and selling platform. PENDLE deposits will probably be out there from 3:00 am UTC on September 27. The change has additionally scheduled a name public sale for liquidity, set between 6:00 am and seven:00 am UTC on the identical day.
Spot buying and selling of the PENDLE/USDT pair will start at 7:00 am UTC, permitting customers to have interaction in direct buying and selling. Withdrawals will probably be enabled on September 28.
Pendle is a decentralized finance (DeFi) protocol that facilitates the tokenization and buying and selling of future yield. This characteristic permits customers to separate the possession of yield from the asset itself, providing instruments like yield optimization and yield arbitrage.
Arthur Hayes Sells 61% of PENDLE Holdings, But Token Value Surges by 24%
Pendle’s crypto itemizing on OKX follows important sell-offs of Pendle token by Arthur Hayes, co-founder of BitMEX. Hayes offered over 1.8 million PENDLE tokens—about 61% of his whole holdings. The token surged in price by 24% following his transactions, despite the fact that he realized a $1.29 million loss resulting from his early gross sales.
As of the most recent information, $PENDLE is buying and selling at $4.44, a slight improve of 0.50% over the previous 24 hours.
The token has a market capitalization of $716.9 million, with a 24-hour buying and selling quantity of $137.6 million, reflecting steady market exercise. Pendle’s Complete Worth Locked (TVL) at present stands at $2.07 billion, accounting for 19.5% of its market capitalization.
Furthermore, Pendle has been steadily constructing momentum within the DeFi area all through 2024. Moreover, it has just lately built-in with Ethereum’s Layer-2 resolution, Arbitrum, which reduces transaction prices and speeds up processing instances. Notably, the platform has additionally established partnerships with main DeFi protocols like Aave and SushiSwap, tapping into the liquidity of those established ecosystems.