Following the Federal Reserve’s rate cut, the crypto market appears to be on the rise, resulting in significant gains for many cryptocurrencies in the last 24 hours. Pendle ($PENDLE) has emerged as one of the top performers, experiencing a 24% surge in the last 24 hours and a 30% increase over the past week. According to data from Phoenix, a crypto analytical platform, $PENDLE is currently trading at $4.10, marking an 18% price surge and indicating a bullish trend.
Ranked at #94, with a current trading price of $4.14, $PENDLE is exhibiting bullish movement with a total market cap of $658.52 million. The 24-hour trading volume for Pendle has reached $657,768,309, representing a 15.74% increase. This sudden surge in price has propelled $PENDLE to be named ‘Coin of the day’ as it stands out as one of the top gainers.
$PENDLE has been making headlines today for various reasons. According to data from CoinMarketCap (CMC), the cryptocurrency has experienced significant growth, with a 24% surge and an 18% price fluctuation. This has attracted the attention of many crypto investors and traders who are looking to capitalize on the potential profits and future prospects offered by $PENDLE.
The CEO of BitMEX, Arthur Hayes, predicted ten days ago that $PENDLE was poised to reach $10. However, following his sale of a substantial amount of $PENDLE tokens at an average rate of $3.52, the cryptocurrency surged by 24% to reach $4.39 today. Hayes’ sell-off resulted in a loss of approximately $1.29 million, thrusting both himself and $PENDLE into the spotlight.
Looking ahead, $PENDLE is showing strong bullish indicators with a 24% surge in the last 24 hours and a 30% increase over the past week. Hayes’ prediction of $10 for Pendle suggests potential for exponential growth and a place in the ongoing bull run. Many investors are closely monitoring $PENDLE and investing in it to maximize their profits in the near future. Based on its performance, $PENDLE is highly likely to prove to be a valuable asset with careful trading.