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Pendle and Helium Surge Following Market Shakeup and Innovation Updates

Pendle and Helium Surge Following Market Shakeup and Innovation Updates

Pendle (PENDLE) rose 25% following Arthur Hayes' mention and subsequent sale of the token at a loss during Token2049. Hayes' transaction coincided with a low point for Pendle, but its value appreciated significantly afterward. Community feedback led to significant revisions in Helium's v3 proposals, focusing on core network enhancements. Following the rate cut by the US Fed last week, Bitcoin and other digital assets rallied, with the largest crypto gaining over 7% in the past seven days. Other major assets also made impressive gains, with Ethereum and Solana up 11.5% and 10% respectively. Related: Iggy Azalea to Launch 'Motherland' Casino on Solana in Singapore This November At the same time, altcoins with a much smaller market cap, such as Helium and Pendle, have made even larger gains. Pendle Soars on Arthur Hayes Revelation Pendle (PENDLE) has gained a massive 25% in the past week, with a surge from a low of US$3.13 (AU$4.59), PENDLE currently changes hands for US$4.10 (AU$6.02). Pendle (PENDLE), 7-day chart, source: CoinMarketCap Interestingly, that low was around the time when crypto figurehead and founder of BitMEX, Arthur Hayes, spoke about Pendle on stage of Token2049. Hayes revealed that he held significant positions in Ethena (ENA), Pendle and Ethereum. Data from lookonchain shows that he has since sold 1.59 million of the tokens for a total of US$5.62 million (AU$8.25 million). What's also interesting is that Hayes made the sale at a loss of US$1.29 million (AU$1.89 million). The price for Pendle appreciated since, making those 1.59 million PENDLE worth US$6.91 million (AU$10.14) at some point, instead of the US$5.62 Hayes has sold them for. Arthur Hayes(@CryptoHayes) sold 1.59M $PENDLE for $5.62M at an average price of $3.52 over the past 2 days.After his sell-off, the price of $PENDLE surged by 24%, making the 1.59M $PENDLE worth $6.91M now.His sell-off resulted in a loss of ~$1.29M!https://t.co/HNWw2RiuDO pic.twitter.com/IWvDTrc0Qt— Lookonchain (@lookonchain) September 22, 2024 Helium Lifting Crypto Portfolios Higher Turning to Helium, HNT has gained close to 14% on the daily timeframe at some point, rising as high as US$7.83 (AU$11.49). Helium (HNT), daily chart, source: CoinMarketCap Helium is a blockchain network that connects and transmits data from low-power Internet of Things (IoT) devices. Launched in 2019, it uses nodes called Hotspots that act as both wireless gateways and devices for mining Helium's cryptocurrency, HNT. Helium was created to improve the existing infrastructure for IoT communications. The project fits into the broader category of DePIN or Decentralised Physical Infrastructure Networks. According to Artemis, DePIN was among the best-performing sectors of late. Source: artemisanalytics.com Meanwhile, the introduction of Helium v3 proposals led to significant discussions and some surprises within the community. Related: Bitcoin Accepted: Louisiana Allows BTC, USDC Payments for State Services In a post on X, the Helium team said these discussions helped to reflect on the needs and priorities of the Helium ecosystem. In response, core developers are considering key changes to the initial v3 proposals based on community feedback. Utility vaults and decentralised oracles are no longer a part of the proposal, and token supply is unchanged – which had initially caused concern within the community. The release of the initialHelium v3 ideas sparked passionate discussions within our community. There were a few surprises, but overall, it was successful in opening a deep introspection into the Helium ecosystem, and what's broadly important to the community.Core developers…— Helium

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