Arthur Hayes, the Chief Executive Officer of BitMEX, reportedly again sold 1.59 million $PENDLE, facing a loss of $1.29 million as $PENDLE spiked by 24% afterward. Lookonchain, an on-chain analytical firm, reveals this significant $PENDLE selling by Arthur Hayes. As per the report, Hayes sold around $1.29 million as $PENDLE worth $5.62 million at the average price of $3.52 during the last couple of days.
$PENDLE Surges by 24% After Arthur Hayes’ Sell-Off
Arthur Hayes met an unfortunate loss of $1.29 million as $PENDLE surged by 24% after he sold 1.59 million $PENDLE. When he sold, $PENDLE was trading at $3.52, and now it is trading at $4.33 with a significant rise of 24.5%. This change made Hayes lose a significant amount as the same amount of $PENDLE he sold would have been worth $6.91 million. He lost a difference of $PENDLE’s previous and current worth which is around $1.29 million.
The recent sell-off has sparked much speculation in the crypto market about the reasons behind the Hayes’ selling a significant amount of $PENDLE. He also predicted 10 days ago that $PENDLE will be surge and show potential growth and that becoming true. After the major sell-off by Arthur Hayes, $PENDLE surged by 24% and fluctuated around $4.33.
What Next?
Based on the details shared by Lookonchain and market sentiment, $PENDLE is seeking the attention of crypto investors and traders.  Although, Hayes has lost a significant amount, but $PENDLE’s significant growth of 24%, the crypto market is eyed on $PENDLE for the future prospects. Till now, $PENDLE is trading at $4.33 and as predicted by Arthur Hayes to surge to hit $10 in the coming days. If Hayes’ prediction comes to reality, $PENDLE can be a valuable asset to yield maximum profits.
