en.bitcoinsistemi.com
BitMEX co-founder and cryptocurrency leader Arthur Hayes recently announced that his family office fund Maelstrom Fund has reduced its position in $PENDLE, a token focused on crypto interest rate derivatives.
Hayes noted that Maelstrom Fund, among other funds, purchased 392,911 $PENDLE tokens at an average price of $5.60 between May 20 and June 21. However, the fund recently sold 350,000 $PENDLE tokens at a loss, a move that has garnered attention in the crypto community, especially considering Hayes’ strong support for the asset.
Despite his position in the asset, Hayes noted that $PENDLE remains one of the largest holdings in the Maelstrom Fund’s portfolio. He said he believes in the token’s long-term potential, saying:
“As you can see, Maelstrom Fund is reducing its $PENDLE position. Even after the reduction, it is still one of our largest positions. We still fully believe that $PENDLE will be a leader in crypto interest rate derivatives and we plan to profit from their success.”
The sale was reportedly made to fund a “special occasion,” but Hayes kept the details secret.
*This is not investment advice.