Biggest Winners on Coinstore: PENDLE Leads the Charge

• PENDLE leads Coinstore’s top gainers, highlighting DeFi’s growing popularity.
• Arthur Hayes sees long-term bullish outlook for PENDLE, DOGE and Ethena.

Coinstore, a cryptocurrency exchange, announced earlier this week the top five gainers on its platform over the past 24 hours.

Coinstore announced in a tweet that the biggest winners were PENDLESNX, PEPE, FET and RSR. According to the data, PENDLE increased by 13.11% over the past 24 hours. And then, at the time of writing, the token had increased by 14.58% has $4.39 by token.

See more

Pendle’s DeFi protocol attracts investor interest amid cryptocurrency market recovery

Pendle is a permissionless DeFi technology that enables tokenization and trading of future yields using an automated market maker (AMM) mechanism. Given the current state of the cryptocurrency market, the services of these protocols are expected to attract the attention of investors, thus positively increasing the value of the token.

Enthusiasm in the broader cryptocurrency market, with Bitcoin (BTC) prices recovering to the $60,000 level, is contributing to bullish sentiment in the altcoin market.

Earlier last week, as we have already said reportedLookonchain platform spotted a whale transferring 1.1 million PENDLE tokens to Binance. This event initially raised fears of possible sell-offs and negatively impacted the token’s price. However, the price barely fluctuated slightly before recovering at the time of writing.

Additionally, Arthur Hayes, co-founder of BitMEX, said that PENDLE has good long-term prospectsHayes is also bullish on DOGE and Ethena (ENA), highlighting the growing confidence in these coins among major market participants.

PENDLE’s remarkable performance in a rebounding market demonstrates the resilience and potential of DeFi protocols to capture investor attention and achieve significant increases in value.

The positive sentiment surrounding Bitcoin’s revival is bolstering the possibilities for altcoins like PENDLE, SNX, PEPE, FET, and RSR, indicating a bright future for the larger cryptocurrency ecosystem.

No spam, no lies, only insights. You can unsubscribe at any time.

Fuente