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Pendle Moves $6.44 Million in Tokens to Binance Wallet

Pendle Moves $6.44 Million in Tokens to Binance Wallet

A whale address withdraws 1 million PENDLE tokens from Binance, staking them for a six-month lock-up, reinforcing institutional engagement with Pendle’s ecosystem.

PENDLE

Fact Check
Multiple independent news sources (ainvest.com, blockchain.news, cryptonews.net, CoinGecko) corroborate the statement, citing on-chain data that a Pendle multisig wallet transferred 1.2 million PENDLE tokens, valued at approximately $6.44 million, to a Binance wallet.
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Summary

A whale address withdrew 1 million PENDLE tokens, valued at $5.05 million, from Binance and staked them on Pendle for a six-month lock-up period, signaling continued institutional interest in the platform.

Terms & Concepts
  • PENDLE: The native token of the Pendle protocol, used for governance and protocol-related activities.
  • Whale Address: A wallet address that holds a significantly large amount of a particular cryptocurrency, often influencing market movements.