Institutions Accumulate PENDLE Amid DeFi Interest 1.349 million PENDLE worth $5.38 million withdrawn from Binance

Institutions have shown renewed interest in PENDLE, a decentralized finance (DeFi) platform, despite the current market headwinds. This resurgence of interest is driven by the platform's innovative approach to yield-generating assets and its strategic expansions. PENDLE's unique model of splitting yield-generating assets and trading their future yields separately has positioned it as a go-to platform for advanced DeFi users. The platform's Automated Market Maker (AMM) is specifically designed for assets that decline in value over time, making it a more efficient use of capital and minimizing the risk of impermanent loss. This technological advantage, coupled with the platform's governance token vePENDLE, which allows users to stake, vote on proposals, and earn a share of protocol fees, has attracted the attention of large institutions.

Spot On Chain revealed growing institutional activity in PENDLE. A wallet, likely linked to Arca, withdrew 1.349 million PENDLE (worth $5.38 million) from Binance within the past five hours at the time of report. Over the last six days, the same wallet accumulated 2.183 million PENDLE, totaling $8.31 million in value. This shows an institutional accumulation trend. The wallet sits on an estimated unrealized gain of $100,000, suggesting a tactical entry at an average price of $3.81. This aggressive accumulation points to renewed institutional conviction in PENDLE’s long-term value.

According to IntoTheBlock data, 31% of PENDLE holders are in profit. Meanwhile, 11% are breaking even, and 59% remain in losses. This distribution indicates that most holders bought during higher price periods. Hence, many are likely waiting for a rebound. Additionally, ownership concentration stands at 87%, controlled by large holders. This high concentration signals potential volatility risks. A shift by a few major players could sway price movements. Moreover, PENDLE maintains a strong 0.71 correlation with Bitcoin. Any directional moves by BTC strongly influence PENDLE’s trajectory.

Looking back, PENDLE has shown volatile trading activity since September. Price began climbing in October, seeing a rise from $3,000 to $4,000. Momentum intensified in November, pushing prices past $5,000. December was the peak as PENDLE soared to $7,500. However, a dramatic correction followed. Prices dropped by over 70% to around $2,200. February established a base between $2,000 and $2,500. From March to May, the token traded in a tight $2,500–$4,000 range. This period showed reduced momentum, with MACD indicators staying mostly negative. In June, PENDLE rebounded toward $4,500 before slipping again. It now trades at $3,645, down 6.23% in recent sessions. Moreover, the accumulation/distribution line remains stable at 60.69 million. Despite the slight MACD histogram recovery, signal lines remain below zero.

Large transactions averaged $80.18 million in the past week. However, there’s a subtle decline in this figure. Additionally, Telegram membership shrank slightly by 0.07%. Hence, community momentum appears stable but stagnant. The current token price of PENDLE, hovering around $3.88, is about 48% below its highest price, providing traders with attractive entry opportunities. This price point, combined with the platform's innovative technology and strategic expansions, makes PENDLE an appealing investment option for institutions looking to capitalize on the next crypto bull run. The platform's focus on advanced DeFi strategies and its ability to attract large institutional partners position it well for future growth, despite the current market headwinds. As the crypto market continues to evolve, PENDLE's innovative approach and strategic expansions are likely to continue attracting the interest of institutions and advanced DeFi users alike.