PENDLE: Polychain Capital Transfers 4.114M PENDLE to FalconX, Faces Approximately $3.99M Paper Loss as Price Drops to $2.19
PENDLE/USDT
$29,468,415.45
$1.266 / $1.19
Change: $0.0760 (6.39%)
+0.0015%
Longs pay
New content:
As reported by on-chain data analytics, an address linked to Polychain Capital moved its entire PENDLE stake—4.114 million tokens—to FalconX roughly eight hours ago. The fund had previously built a sizeable position in PENDLE, accumulating about $13 million at an average entry price near $3.16 from March through September, according to recent chain data.
At the current quote of about $2.19, the mark-to-market shows a paper loss near $3.99 million for this block, illustrating the material impact of price moves on institutional exposure.
While the transfer signals reallocation among counterparties, it does not imply an exit from PENDLE or a broader bearish thesis. Investors should monitor further custody moves and liquidity dynamics to gauge ongoing supply pressure.