- Arthur Hayes makes a $4 million revenue on his Pendle funding.
- Hayes' Pendle property is now valued at $8 million, doubling its preliminary outlay.
- Hayes plans to purchase Solana cash and memes whereas elevating Pendle's stakes.
Arthur Hayes, the founding father of the BitMEX alternate, noticed a revenue of over $4 million from his ongoing funding in Pendle (PENDLE), a venture on the forefront of tokenization and futures buying and selling.
Properly-known Chinese language reporter Colin Wu highlighted this improvement in a current put up on X. Knowledge from Etherscan confirmed {that a} pockets related to Hayes exchanged $510,545 USDC stablecoins for 98,560 PENDLE tokens simply eight hours in the past. Hayes organized this commerce by means of the distinguished market maker Wintermute.
In the meantime, Hayes' accumulation of PENDLE tokens dates again to June 2023, when he first bought 100,000 items from an nameless supply. He bought 1.2 million tokens by means of Binance between September 2023 and March 2024.
Earlier than his newest transaction, Hayes purchased over 57,000 PENDLE tokens from Wintermute two days in the past. Because of this newest accumulation, the BitMEX founder now holds 1,555,697 PENDLE cash, value $8,058,514 at press time.
Colin Wu estimated that Arthur Hayes acquired his PENDLE belongings at a mean value of $2.02 per token. At press time, PENDLE has a market cap of $5.12. The founding father of the BitMEX alternate mainly spent $3,142,507 to construct his portfolio of PENDLE tokens. He now has greater than double his preliminary funding in return for a revenue of $4,916,006.
In his newest weblog put up, Arthur Hayes revealed his intention to purchase Solana and numerous meme cash for “momentum buying and selling positions”. He additionally talked about that he’s rising his holdings in Pendle for extra everlasting speculative investments and can be on the lookout for further tokens to promote. He intends to make use of the remainder of Could to increase his funding portfolio.
In the meantime, Hayes disclosed his function as an advisor and investor within the Pendle venture, noting that he was compensated with Pendle tokens for his advisory work.
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