In this Altcoin, Developers Reportedly Deposit Large Amount of Altcoins to Binance

Pendle Finance’s developer-owned Ecosystem Fund reportedly deposited 1.3 million PENDLE, equivalent to $2.2 million, to cryptocurrency exchange Binance for $1.68 per token.

This move comes after the wallet received a significant amount of 23 million PENDLE ($15.6 million) unlocked on October 8, 2023.

Since then, the fund has invested a total of 3.5 million PENDLE ($4.35 million) into Binance. Observers noted a slight decline in the PENDLE price following these deposits. Despite these transactions, the fund still has 20.26 million PENDLE in its wallet, worth $34 million.

At the time of this writing, PENDLE price is trading at $1.70 and has risen more than 50% in the last month.

On the other hand, it was claimed that GSR Markets made the first NEAR withdrawal from Binance. The firm attracted 115,124 NEARs amounting to $390,000 at an average price of $3.39 per NEAR. This withdrawal comes at a time when the price of NEAR has risen from $2.28 to $3.53, an increase of 52% over the last 30 days.

*This is not investment advice.

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