Altcoin was among the market’s biggest gainers this week, the altcoin that powers the popular decentralized finance protocol, Pendle, has seen a double-digit price uptick in the last seven days.
PENDLE’s price rally was partly fueled by Arthur Hayes, the co-founder of the derivatives exchange BitMEX, who decided to add the token to his portfolio. In a post on X on 20 June, the industry veteran announced his plans to add PENDLE AND Dogecoin to his “bags.”that Hayes transferred $2.05 million in USD Coin to Wintermute. In return, he received 280 ETH, valued at around $1 million, and 92,339 PENDLE, worth around $554,000.
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