Altcoins
Arthur Hayes Adds to His Seven-Figure Altcoin Position with Purchase of $500,000 DeFi Token
BitMEX co-founder Arthur Hayes just added around $500,000 to his seven-figure position in a decentralized finance (DeFi) altcoin project, according to on-chain data.
According to Ethereum (ETH) block explorer Etherscan, Hayes purchased over 98,560 Pendle (PENDLE) tokens, a project that allows users to tokenize and sell future returns.
He made the transaction using Wintermute, a leading digital asset trading company.
Source: Etherscan
Hayes, who is also an advisor to the Pendle project, currently is holding over 1,555,697 PENDLE tokens worth over $7.7 million, according to Etherscan.
Hayes previously announcement During the broader crypto market correction on May 2, he intended to increase his investment in Pendle.
“I buy Solana and dog coins (memecoins) for dynamic trading positions. For longer term sh*tcoin positions, I am increasing my allocations in Pendle and will identify other “on sale” tokens. I’m going to take advantage of the rest of May to increase my exposure. And then it’s time to set it, forget it and wait for the market to realize the inflationary nature of recent US monetary policy announcements.”
He also thinks that Bitcoin (BTC) could trade sideways until August.
Said Hayes,
“A rally above $60,000, then price action in the $60,000-$70,000 range through August.”
Pendle is trading at $4.96 at the time of writing, down more than 3% in the last 24 hours.
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