HomeNewsArthur Hayes Bets Big on PENDLE and Ethena's Rise: Why It Matters!

Arthur Hayes Bets Big on PENDLE and Ethena’s Rise: Why It Matters!

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  • Arthur Hayes has shown his considerable belief in PENDLE’s potential as a major derivatives exchange by making a big investment and owning over 1.5 million tokens.
  • According to Hayes, Ethena (ENA) has a promising future and may eventually surpass Tether in terms of market share.

BitMEX founder Arthur Hayes has once again caught the market’s attention with a significant investment in PENDLE. Hayes uses Wintermute for his significant transaction, which shows his optimistic view of PENDLE’s place in the decentralized finance (DeFi) industry.

Source: Etherscan

Hayes’s Largest Interest in PENDLE¬†

Arthur Hayes recently made waves when he used the trading platform Wintermute to buy PENDLE tokens valued at 500k USDC. Hayes currently has about 1.555 million PENDLE tokens, which are worth about $8.08 million, according to Etherscan.

Hayes now has a $4.89 million paper gain from the transaction, which was purchased at an average cost of $2.02 per token.

Hayes endorsed Pendle about two weeks ago, calling it maybe the most significant derivatives exchange of the future. Praising Pendle’s exceptional capacity to incorporate native cryptographic protocols into the DeFi space, he stated:

“Pendle will become the most significant decentralized derivatives exchange.”

This recommendation may have a significant effect on how the market is seen and how quickly cryptocurrency investors accept Pendle.

As of this writing, the price of PENDLE is roughly $5.18, up 1.84% over the previous day, according to CMC. In addition, during the previous week, there was a slight gain of 0.05%.

Betting on Ethena

In addition to his PENDLE investments, Hayes is making optimistic wagers on Ethena (ENA), another crypto asset. In his opinion, Ethena will eventually overtake Tether in terms of market share, in line with what ETHNews previously disclosed.

This audacious forecast demonstrates Hayes’ larger approach of making investments in cryptocurrencies that he believes have significant potential and might completely transform particular market niches.

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Syofri is an active forex and crypto trader who has been diligently writing the latest news related to the digital asset sector for the past six years. He enjoys maintaining a balance between investing, playing music, and observing how the world evolves. Business Email: info@ethnews.com Phone: +49 160 92211628