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Arthur Hayes, one of the leading figures in the cryptocurrency world and co-founder of BitMEX, grabbed attention with his statement on September 21. Hayes announced that his family fund had reduced its position in the crypto asset PENDLE. However, he emphasized that this move did not shake his confidence in the altcoin, stating that PENDLE remains one of the largest investments in their portfolio.
PENDLE Positions Reduced
On September 21, Arthur Hayes announced via social media that his family fund had decided to sell part of its holdings in PENDLE. Hayes’ move caused a stir in the cryptocurrency sector, as he is a well-known figure. “Our family fund has reduced its position in PENDLE to finance specific situations. However, this does not mean we have lost confidence in PENDLE’s future,” said Hayes. Following this announcement, investors speculated about the “specific situations” that led Hayes to make such a move.
As you can see @MaelstromFund 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 the leader in #crypto interest rate derivatives. And we plan to profit off of their success.
We have…
— Arthur Hayes (@CryptoHayes) September 21, 2024
Investors who closely follow Hayes’ wallet movements are hopeful that the situation will become clearer in the coming days. They are particularly curious about which investments the fund will shift towards. Hayes left a cryptic message, saying, “Those watching our altcoin wallets will soon notice the details,” signaling new strategic moves in the crypto world.
Confidence in PENDLE Grows
Despite reducing his stake in PENDLE, Hayes confirmed his ongoing confidence in the asset. He highlighted PENDLE’s potential to become a leader in the crypto interest rate derivatives market. Hayes stated, “We still firmly believe that PENDLE will lead the way in crypto interest rate derivatives,” reaffirming his long-term trust in the asset.
How Investors View Hayes’ Move
Many investors who closely follow Arthur Hayes’ moves in the cryptocurrency markets are now seeking more information about PENDLE’s future after this latest development. While the fund has reduced its holdings, investors have learned that PENDLE still represents a significant portion of the portfolio. This reinforces the belief that PENDLE has the potential to perform strongly in the long run.
However, Hayes’ decision to reduce his holdings in this altcoin to finance “specific situations” has created mixed feelings among PENDLE investors. While some believe this could lead to short-term price fluctuations, others suspect Hayes might be engaging in a pump-and-dump strategy.
For more updates on this and other crypto developments, stay tuned to Turkish NY Radio.
