BitMEX co-founder offloads $1.26M in PENDLE within an hour

An address identified as belonging to BitMEX co-founder Arthur Hayes sold 350,000 PENDLE ($1.26 million) over the past hour or so, resulting in a total loss of $790,000, on-chain data monitoring platform Lookonchain reported via X. From May 20 to June 21, the address accumulated 392,911 PENDLE ($2.2 million) at an average price of $5.6 through Wintermute. However, PENDLE's dipping by over 40% has compelled him to sell these tokens "at a total loss of $790K (-36%)," according to the post.