BitMEX co-founder and PENDLE whale Arthur Hayes is reducing his PENDLE holdings from his Maelstrom Funds.
Even loss cannot stop
Hayes is serious; he is reducing his PENDLE holding without worrying about the profit or loss because, according to trackers, Hayes sold 350,000 PENDLE tokens at around 40% loss. This action is effecting the market with bears.
Market Effectiveness
I checked that today Pendle was trading at a bullish 5% rate, but as soon as Hayes announced his decision about reducing Pendle HODL, the value of the token dropped by almost 3%.This has angred PENDLE traders and HODLers.
Still a PENDLE whale
Arthur Hayes crypto holdings are in Maelstrom Fund, the Hayes family office of Crypto Holding. According to wallet monitors, Maelstrom's PENDLE wallet is still a whale
This seems to indicate that Hayes does not know how to trade. More likely, he needs money for some investment and sold Pendle at a loss to get capital. What do you think? What must be going on in Hayes' mind?
