Polychain Capital moved its entire PENDLE holdings to FalconX after purchasing them earlier in the year, now facing nearly $4 million in unrealized losses due to a price drop.
Polychain Capital transferred all 4.114 million PENDLE tokens to FalconX on Dec. 13. The tokens were originally acquired between March and September at an average price of $3.16, totaling about $13 million. With PENDLE currently trading at $2.19, the position represents an unrealized loss of approximately $3.99 million.