"Hmm, I wonder if the price of PENDLE can break through $10 this year?"
Arthur Hayes, Chief Executive Officer (CEO) of cryptocurrency exchange BitMEX recently revealed that he has indeed added Pendle (PENDLE) worth over $500,000 and Dogecoin (DOGE) to his portfolio.
Not only that, he is also one of the supporters of Athena (ENA) operating USDe which has successfully grown into the fourth largest stablecoin in the world with a market capital of over $3.5 billion.
Coming back to PENDLE, its ecosystem has thrived due to the total value locked (TV) rising over $6.9 billion making it the fifth largest DeFi network and it has helped many people earn returns by holding stETH, eETH and rsETH.
Through data from DEXTools, there are over 27,686 PENDLE holders where one address is found to hold 21.35% of the total supply.
While the second address holds about 12.2% then the third holds 11.3% of the total PENDLE tokens, so here it should be known that the ten largest holders in total control 69% of the supply.
The main challenge for holders is that PENDLE is willing to introduce more tokens to the crypto market as there are 155 million in circulation compared to a total supply of over 258 million.
Please note that Hayes, who has been in the crypto market for many years, rose to fame shortly after founding BitMEX and 100x Group, a firm that invests in digital asset companies.
As of this writing, PENDLE price has plunged about 0.45% to $5.85 in the last 24 hours with a market capitalization of over $908 million but is still up 15.72% over the last week.