2026-01-23 02:00:30

On-chain data shows that a certain PENDLE project team or early investor transferred 1.8 million PENDLE tokens (worth approximately $3.83 million) to a major exchange earlier today.

The background of this address is quite interesting—it gradually unlocked these 1.8 million PENDLE tokens through a token vesting contract between April 2022 and April 2023. At that time, the tokens were valued at only $266,000, making them very cheap in comparison.

The key point is that after unlocking, the holder did not rush to sell. Instead, they held onto the tokens, watching their value grow to the current $3.83 million. From $266,000 to $3.83 million, an increase of over 14 times—that's the cost of holding long-term.

Whether today's transfer is a move or just a relocation remains uncertain. But based on historical price comparisons, regardless of what happens next, this PENDLE has already brought significant gains to its holder.

PENDLE-3,21%

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BlockchainDecoder

· 5h ago

Hmm... From a technical perspective, this transfer to the exchange itself is quite deliberate. Research shows that large token inflows to exchanges usually correspond to three scenarios: selling, liquidity preparation, or simple address migration. However, data indicates that the operation logic of this early holder is worth noting — they waited over a year after unlocking before taking action, and this level of patience indeed reflects a certain confidence. A 14x return sounds impressive, but from the perspective of unlocking from the vesting contract, it doesn't entirely equate to a "holding" strategy — it's more like passive waiting for the contract to release. Considering market cycles and tokenomics design, such data is often overinterpreted as a bullish signal, but in reality, it might just be a coincidence of timing.

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BlockchainArchaeologist

· 8h ago

14x returns are truly incredible; early investors are definitely in a good position with this wave.

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FloorPriceNightmare

· 8h ago

14x returns, this guy really held on. If he hadn't transferred to the exchange today, I would have thought he was going to stay flat until nightfall.

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liquidation_surfer

· 8h ago

14x returns, now that's the true hodl spirit. From 266,000 to 3,830,000, this guy's mental resilience is impressive. Should I transfer to the exchange now... or is it better to move some funds first and stay calm?

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