CandleFocus Pendle Team Shifts 625,000 Coins to Binance
2024-11-08
Author: Content Editor
The Pendle team has transferred 625,000 PENDLE coins, worth about $3.37 million, to Binance on November 8. This transfer coincided with the unlocking of coins allocated to the team between April 2022 and April 2023. Some market players are concerned about potential price instability, but the Pendle team states that the unlocking is necessary for the platform's viability. The long-term effects of this unlocking strategy will likely determine Pendle's market presence.
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