Trend Research don withdraw 1M PENDLE (~$5.8M) for Binance
For August 23, on-chain data show say Trend Research commot 1 million PENDLE tokens (~$5.83 million) from Binance. Trend Research on-chain crypto portfolio get about $770 million for seven assets, wey dem dey lead with 108,000 ETH (worth $516 million at $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 show how Trend Research dey do their strategic asset management. No be investment advice.
Neutral
Di withdrawal wey be 1 million PENDLE from Binance mean say dem dey do strategic asset movement, no be immediate sell-off, dis kain behavior dey usually seen as better thing for token supply arrangement. But compared to PENDLE total circulating supply, 1 million tokens na small amount, e no fit cause big price wahala. Trend Research wey get diversified $770 million portfolio wey dem dey run with big ETH holdings, e still show say dem dey stable for long term, no be short-term liquidation. Na why market impact go remain neutral, e no go too affect wide crypto trading business.