The native token of Pendle, a real-world asset (RWA) tokenization platform, has seen significant growth since its November 2022 lows and all-time highs in 2024. However, there are concerns as the Pendle Foundation and Arthur Hayes, co-founder of BitMEX, have been offloading tokens. The foundation's governance wallet has moved millions of PENDLE tokens to Binance, while Hayes has deposited and transferred millions of dollars worth of PENDLE to the exchange. Although there is no direct proof that Hayes is selling, the transfers could indicate his intention to do so. Nevertheless, the token has been resilient and has rebounded from Q3 2024 weaknesses, with buyers aiming to reclaim previous highs. The current uptrend will depend on buyers holding steady above certain price levels and sustaining upside momentum. The presence of bull bars on the daily chart suggests strong underlying momentum, and if this continues, PENDLE could reach new all-time highs and attract more whales to hold the token.



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