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On-chain data shows that a leading institution (suspected to be a well-known Web3 investor) has been very active over the past few months. From March to September, they continuously bought PENDLE at an average price of $2.98, accumulating a total of 4.114 million tokens with an investment of approximately $12.26 million.
Things took a turn in the last 8 hours.
This massive amount of tokens was fully transferred to FalconX. At the same time, the trading price of PENDLE has dropped to $2.19, meaning that the current unrealized loss on this investment has reached $3.25 million.
This has sparked some market speculation. Why is the institution moving this position now? Are they forced to cut losses, or are they preparing for some structured trading? Where will the funds flow next? This becomes particularly worth watching. Future on-chain movements may provide answers.
Is this supposed to be a meal or a run away...
Is it true that FalconX is really going to take over? What do you think about this move?
Stop loss or ambush, we need to see what the on-chain data says next...
This routine is so familiar, another round of shakeout drama.
Damn, I just want to know where this money ended up in the end.
Are we retail investors being cut again?
Wait, with this level of position transfer, there must be some mystery behind it.
I feel sorry for that 3.25 million, but I feel even more sorry for my own 1,000 bucks.
Based on this trend, will PENDLE still fall?
So now, is it a good time to buy the dip or to keep hiding, everyone?
Moving to FalconX makes it a bit more interesting. Is it really about stop-loss or some kind of fancy maneuver?
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A loss of 3.25 million USD... How strong must this institution's mentality be?
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Why does it feel like some big wallet is just unloading positions again?
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Moved to FalconX? There must be a backup plan, they won't just run like that.
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Tsk, same old trick, first dump the price then pump it up?
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If $2.19 is daring enough to buy, then there's still a chance.
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On-chain data being so transparent actually makes people feel uneasy...
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Is it true? Has this institution only broken even after so many months?
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Wait, is FalconX finding a scapegoat for them or what?
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Another institution-level "accidental" big loss show.
Selling off still seems to be playing some tricks, let's wait and see the on-chain data for the follow-up.
This wave of PENDLE truly fell below expectations; the previous buy-in now looks painful.
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Transferring to FalconX? I've seen this routine before, they're probably preparing some big move.
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To be honest, the least likely to cut losses are the truly tough players; the real players wouldn't be so passive.
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4.11 million PENDLE tokens just moved like that, the market must be exploding... Who dares to buy the dip?
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Buying at $2.98 and selling at $2.19, this move is truly outrageous. I don't believe they really have no plan.
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From the on-chain operations, it's clear there are still more tricks up their sleeve. Let's see who can catch this move.
Why transfer to FalconX? Are they trying to buy coins to crash the market or really planning to escape? We have to wait for the on-chain answer.
I'm very familiar with this forced liquidation rhythm, it happens every time.
FalconX's move is a bit mysterious, not like a simple stop-loss operation.
Institutions will also suffer heavy losses... Feeling relieved, haha.
This is the legendary bag-holder.
According to this trend, Pendle will continue to drop, three seconds of silence.