A significant pattern of accumulation has emerged surrounding the DeFi protocol PENDLE. An unknown whale or institutional entity is amassing large quantities of the token, and many analysts view this as a calculated long-term play. In fact, over the past month, the entity has not only been buying PENDLE but also removing it from centralized exchanges (CEXes) — in this case, Binance. Overall, a massive deficit is appearing on CEXes. And because this play involves a DeFi protocol, it’s worth noting that the tokens are not being sent back to anyone involved with Binance. As per the data from on-chain
The post Whale Accumulation Alert: Over $11M Worth of PENDLE Withdrawn From Binance in 30 Days appeared first on The Merkle News.
