Trend Research Withdraws 1M PENDLE (~$5.8M) from Binance
On August 23, on-chain data shows Trend Research withdrew 1 million PENDLE tokens (~$5.83 million) from Binance. Trend Research’s on-chain crypto portfolio totals about $770 million across seven assets, led by 108,000 ETH (worth $516 million at a $2,250 cost basis), followed by 670 million NEIROETH (67% of holdings, ~$87.6 million), 5.41 million UNI (~$60.9 million), 3.75 million FORM (~$13.2 million), 228,700 COMP (~$11.2 million), 1 million PENDLE (~$5.83 million) and 203,000 ENS (~$5.53 million). This Binance PENDLE withdrawal highlights Trend Research’s strategic asset management. No investment advice provided.
Neutral
This withdrawal of 1 million PENDLE from Binance suggests strategic asset relocation rather than an immediate sell-off, a behavior often seen as bullish for token supply dynamics. However, relative to PENDLE’s total circulating supply, 1 million tokens represent a modest amount, unlikely to trigger significant price movement. Trend Research’s diversified $770 million portfolio, led by large ETH holdings, also indicates stable, long-term positioning rather than short-term liquidation. Therefore, the market impact is expected to be neutral, with limited influence on broader crypto trading activity.