PENDLE experienced a substantial withdrawal of over 8.3 million USD from Binance, suggesting heightened interest from institutional investors. This trend aligns with the SEC’s supportive stance on DeFi, fostering a more favorable environment for compliant yield-bearing protocols.
Despite a generally bearish market atmosphere, PENDLE has witnessed a notable 10.89% increase in new addresses. This uptick in network activity demonstrates growing community engagement, indicating a potentially sustainable demand for PENDLE.
The surge in whale trades, climbing by 300%, points to a shift in market dynamics. However, PENDLE’s high NVT ratio raises concerns about overvaluation compared to its on-chain activity, prompting market participants to tread carefully regarding future price movements.
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