PENDLE institution lost $3.25 million overnight, 4.11 million tokens suddenly transferred to exchanges

【BitPush】There is an interesting phenomenon. An institution had been accumulating shares at low prices from March to September, buying 4.114 million PENDLE at an average price of $2.98, totaling $12.26 million. This position just sat in the wallet like that, until the day before yesterday when it suddenly changed — the entire position was transferred into FalconX exchange.

The timing of the transfer wasn’t ideal. Now, the price of PENDLE has dropped to $2.19. Let’s do the math — once this trade is completed, the unrealized loss will be $3.25 million. From $2.98 to $2.19, a 26% decline, and months of holding went down the drain like that.

This institution should be Polychain Capital. It looks like they might have been forced to close their position or changed their strategy. Anyway, when such a big order enters an exchange, it usually means something — everyone in the market understands. The actions of big players often reveal where market sentiment is heading.