Yahya 
After the Federal Reserve’s rate cut, the crypto market is showing a good trend; many cryptocurrencies have witnessed appreciable rise during the past 24 hours. Pendle (PENDLE) has been among the top among them rising by 24% in the past 24 hours and by 30% over the past week.
Leading crypto analytics platform Phoenix says PENDLE is currently trading at $4.10, showing an 18% increase and maintaining a favorable outlook. Having a market value of $658.52 million, Pendle ranks #94 on the market; its 24-hour trading volume has increased 15.74%, reaching $656,768,309. With its amazing price activity, PENDLE has been labeled as “Coin of the Day.”
Pendle performed really well for several reasons. Said CoinMarketCap (CMC), the 24% surge in the cryptocurrencies has attracted greater attention from investors seeking to profit from its growing momentum. Since they view PENDLE as a successful prospect with predicted future expansion, many traders have started investing in it in reaction to the current price surge.
Particularly, BitMEX CEO Arthur Hayes grabbed headlines when he predicted PENDLE topping $10. But only yesterday, Hayes sold a considerable number of PENDLE tokens at an average price of $3.52. The token’s price surged 24% following his sell-off, culminating at $4.39, and Hayes would have lost possible $1.29 million.
Still, PENDLE has a very positive momentum. The coin’s recent 24% spike and 30% growth over the past week have many investors excited about the long-term opportunities. According to Hayes, Pendle is probably going to hit $10 in not too distant future; consequently, it is a great asset for people seeking high returns.
Given its outstanding performance and rising investor interest, PENDLE is probably a helpful instrument in the continued crypto bull run. Many traders believe that vigilant trading could produce significant rewards as the coin continues on its upward course.
The information in this article does not provide any investment advice.
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