Pendle Crypto to List its Coin on OKX for Spot Trading

OKX has officially announced the listing of Pendle (PENDLE) crypto coin on its spot trading platform. PENDLE deposits will be available from 3:00 am UTC on September 27. The exchange has also scheduled a call auction for liquidity, set between 6:00 am and 7:00 am UTC on the same day.

Spot trading of the PENDLE/USDT pair will begin at 7:00 am UTC, allowing users to engage in direct trading. Withdrawals will be enabled on September 28.

Pendle is a decentralized finance (DeFi) protocol that facilitates the tokenization and trading of future yield. This feature allows users to separate the ownership of yield from the asset itself, offering tools like yield optimization and yield arbitrage. 

Arthur Hayes Sells 61% of PENDLE Holdings, Yet Token Price Surges by 24%

Pendle’s crypto listing on OKX follows significant sell-offs of Pendle token by Arthur Hayes, co-founder of BitMEX. Hayes sold over 1.8 million PENDLE tokens—about 61% of his total holdings. The token surged in price by 24% following his transactions, even though he realized a $1.29 million loss due to his early sales. 

As of the latest data, $PENDLE is trading at $4.44, a slight increase of 0.50% over the past 24 hours.

The token has a market capitalization of $716.9 million, with a 24-hour trading volume of $137.6 million, reflecting stable market activity. Pendle’s Total Value Locked (TVL) currently stands at $2.07 billion, accounting for 19.5% of its market capitalization.

Moreover, Pendle has been steadily building momentum in the DeFi space throughout 2024. Additionally, it has recently integrated with Ethereum’s Layer-2 solution, Arbitrum, which reduces transaction costs and speeds up processing times. Notably, the platform has also established partnerships with major DeFi protocols like Aave and SushiSwap, tapping into the liquidity of these established ecosystems.