New content:
As reported by on-chain data analytics, an address linked to Polychain Capital moved its entire PENDLE stake—4.114 million tokens—to FalconX roughly eight hours ago. The fund had previously built a sizeable position in PENDLE, accumulating about $13 million at an average entry price near $3.16 from March through September, according to recent chain data.
At the current quote of about $2.19, the mark-to-market shows a paper loss near $3.99 million for this block, illustrating the material impact of price moves on institutional exposure.
While the transfer signals reallocation among counterparties, it does not imply an exit from PENDLE or a broader bearish thesis. Investors should monitor further custody moves and liquidity dynamics to gauge ongoing supply pressure.
Source: https://en.coinotag.com/breakingnews/pendle-polychain-capital-transfers-4-114m-pendle-to-falconx-faces-approximately-3-99m-paper-loss-as-price-drops-to-2-19
