Pendle Finance-linked wallet transferred 900,000 PENDLE ($4.65M) to Binance after a sharp 25% price increase.
Pendle’s price climbed above $5, with market cap at $862.6M and 24-hour volume spiking 477% to $385.9M.
The token continues trading in an ascending channel, with the next potential target between $5.70 and $6.00.
A multisig wallet linked to Pendle Finance made a notable transfer of PENDLE tokens shortly after a sharp price increase. According to a post by Spot on Chain, the wallet deposited 900,000 PENDLE, valued at $4.65 million, to Binance approximately. This move followed a 24-hour price surge, pushing PENDLE to above $5, up by 25% as of writing.
https://twitter.com/spotonchain/status/1953640365136957798 PENDLE Price Rally Impacts Wallet Holdings
Following the deposit, the wallet’s balance now stands at 26.19 million PENDLE. This amount is valued at $135.4 million, based on the latest market rate. The price increase significantly affected the wallet’s total valuation. PENDLE currently represents the majority of the wallet’s portfolio, both in token volume and dollar value.
No other asset comes close to this level of dominance in the holdings list. Tracking the current market trend at the time of press, CoinMarketCap data indicates that Pendle (PENDLE) is trading at $5.15 after recording a 24-hour price increase of 25.08%. The token’s market cap rose to $862.6 million, reflecting a 25.69% gain.
Source: CoinMarketCap
Additionally, the trading volume surged to $385.9 million, marking a 477.07% increase within the same period. The price chart shows a steady upward movement, with multiple peaks above the $5.00 mark. The token maintained gains after initial volatility, consolidating near its current high. The recent price action indicates increased market activity, with rising value as Pendle continues trending upward with strong momentum.
Pendle Now Trades in Upper Range of Ascending Channel
According to a technical analysis by Riddler, it is notable that Pendle (PENDLE) is currently trading above $5.00 after rebounding from the lower boundary of its ascending channel. The price recently moved off the $3.70 support area, a zone previously tested in April and July. Since March, the asset has followed a rising trendline, forming consistent higher highs and higher lows.
Source: X
The daily chart shows price action climbing through the upper half of the channel, maintaining alignment with the long-term upward pattern. Current levels place PENDLE near its previous range highs within the structure, where resistance was seen around $5.25. This level marks the most recent rejection area during late July, before the brief retracement toward $3.70.
If the channel continues holding, the next upward movement may target the upper boundary near $5.70–$6.00. This aligns with the existing pattern of bullish continuation inside the trend structure. No breakdown has occurred below the ascending support trendline, and price remains within the channel’s active range. As of now, market structure supports continued upside, with the trend intact..
