Arthur Hayes recently put $500,000 into a DeFi altcoin project, increasing his PENDLE token holdings by acquiring over 98,560 tokens, now valued at more than $7.7 million. Hayes’ support of the project has created a noticeable impact on the market.

Investments by well-known individuals in cryptocurrencies always attract attention, much like the influence Elon Musk has on DOGE. A recent development between Arthur Hayes and WIF has garnered significant interest due to Hayes' recent investment activity influencing the market conditions.

Arthur Hayes, a co-founder of BitMEX and a name that has been gaining traction recently, has reportedly invested around $500,000 in a DeFi altcoin project according to on-chain data. Utilizing data from Etherscan, Hayes has acquired over 98,560 tokens from the Pendle project, which specializes in tokenizing and trading future yields. Hayes, also an advisor to the Pendle project, now holds more than 1,555,697 PENDLE tokens valued at over $7.7 million.

During a crypto market downturn on May 2nd, Hayes revealed his plan to boost his investment in Pendle, indicating his intentions with Solana, meme coins, and other potential tokens. He mentioned a strategic allocation increase in Pendle and other discounted tokens in May, emphasizing the importance of understanding the impact of current US monetary policy changes.

Hayes has also shared his thoughts on Bitcoin, foreseeing a possible period of sideways movement until August, with Bitcoin's price likely oscillating between $60,000 and $70,000. Observing the trading activity of Pendle, its price recently dropped to $5.04, showing a 1.40% decrease in the last 24 hours. Despite this, Pendle’s market cap has surpassed $1.2 billion, demonstrating positive trading volume growth exceeding $81 million following a notable 38% increase.