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- PENDLE saw a rebound in price after a major sell-off, attracting new buyers in the DeFi market.
- TAO continued its upward momentum this week, becoming one of the top-performing altcoins.
- SUI has gained attention due to strong DeFi applications, maintaining steady interest despite some token unlocks.
Several altcoins have seen significant activity in the crypto market, with PENDLE, TAO, and SUI experiencing notable price movements. According to a Crypto Stream post via the X Space, these tokens have attracted the attention of traders, with market events fueling both price increases and opportunities for strategic trades.
PENDLE: Market Response After a Major Sell-off
In the last two weeks, the Pendle price has accelerated from $2.48 to $4.08, a 64% increase. Amid the broader market recovery, discussions stand out as the asset defies substantial selling pressure from Arthur Hayes, the co-founder of BitMex. According to Lookonchain, Hayes recently sold off 1.59 million PENDLE tokens for approximately $5.62 million at an average price of $3.52 per token.
PENDLE experienced a significant pump in value after the DeFi figure sold millions of coins. The market reacted to this sale, causing a sudden shift in the token’s price.
While the sell-off initially raised concerns among traders, the token quickly rebounded as new buyers entered the market. PENDLE remains a key focus for those monitoring the decentralized finance (DeFi) space, with its price movement attracting both short-term traders and long-term holders.
TAO: Sustained Uptrend Throughout the Week
TAO has been on a continuous upward trend this week, with its value rising steadily. The token has seen consistent gains, prompting many traders to search for an entry point into the market. TAO’s strong performance has positioned it as one of the week’s top-performing altcoins, sparking increased interest in its future potential. Traders are closely watching the market to determine the best time to capitalize on TAO’s momentum.
SUI: Strong Narrative Drives Interest
SUI has also been at the center of attention this week, driven by a strong narrative surrounding its DeFi applications. Despite some unlocks, the token has maintained a steady interest from traders seeking opportunities within the SUI DeFi ecosystem. SUI’s ongoing developments and market activity have presented several trading opportunities, with analysts pointing out the potential for further growth in the near future.