What is the next step for the whales who have made more than 10x profit in Pendle?

What's next for whales with over 10x profit in Pendle?

Last month, the rise of $PENDLE was impressive. Cryptocurrency analyst Finish tracked the whales who made profits of over 1000% on Pendle through some Dune data dashboards, and wrote an analysis of their next moves.

Discovered through Defi_Mochi’s dashboard, Whale 1: He swapped all his $PENDLE for a decent profit and since then, he hasn’t done much except stake some $ETH on Lido and send some $cbETH he received from Binance to Coinbase, which is definitely an interesting move. Additionally, he deposited the remaining ETH into Aave, but so far he hasn’t borrowed anything.

Discovered through Bubblemaps, Whale 2: He bought $PENDLE in 2022 when nobody was talking about it and the price and TVL were one-tenth of what they are now. Currently, he still holds a portion of $PENDLE (892,000 $PENDLE with 64,000 in SushiSwap LP). This whale hasn’t made many trades and has transferred some $PENDLE to his Arbitrum friend, making this wallet one of the largest $PENDLE holders on Arbitrum.

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Whale 2’s Arbitrum friend: Holds a lot of altcoins and some $USDC. The biggest bets are: $PENDLE, $ARB, $VELO, and $KWENTA. Additionally, it seems that he is a loyal fan of Level Finance because the whale has staked some “bags” there. Now let’s move on to the next friend in this group, whose wallet was recharged with an amazing 1.25 million $PENDLE by Whale 2. This whale locked up $400k worth of $PENDLE in exchange for $vePENDLE. Another part of the whale’s holdings on Arbitrum is sold weekly, so the whale is earning some fixed profits. He is Chronos, holding a large bag of LP there and not much $CHR (about $250). The returns from LP alone are higher than holding $CHR.

Reference: https://twitter.com/0xfinish/status/1667917954275774465

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