Pendle Price Surges 12% as Buyers Absorb Whale's Supply Pressure

A recent whale transfer of $1.28 million in Pendle tokens to Binance without staking them sparked distribution concerns, but buyers absorbed the supply pressure and propelled PENDLE's price up by 12.47% at press time.

The transfer had initially created more available selling pressure, but instead, it was met with strong spot demand that kept the recovery intact.

The three-day outflow streak tightened available supply, indicating that broader holders had not followed the whale's move to exchanges during PENDLE's recovery.

Rising Open Interest added fuel and risk as derivative traders built up their positions, but the price advance suggested sellers didn't have enough control to derail the recovery.