Crypto influencer and BitMEX co-founder Arthur Hayes recently made a significant purchase of Pendle’s utility token, valued at $536,000. On-chain data provider Lookonchain revealed this transaction, which involved purchasing 218,000 tokens. Hayes’ investment reflects the growing optimism surrounding Pendle protocol, as seen by its recent inclusion in the Bloomberg Galaxy DEFI index. The token has experienced a strong surge recently, with a 5% increase over the past seven days, according to data from $PENDLE. 105,000 tokens were initially purchased, followed by another 113,000 tokens for a total of 218,000. Pendle’s innovative approach to future yield trading, utilizing an auto market maker (AMM) smart contract, has attracted significant interest in the DeFi space. The protocol continues to generate strong annualized fees and revenue despite recent price fluctuations. Arthur Hayes’ buy signals a potential positive outlook for the Pendle token, as reflected by its rising trading volume and increased participation from traders after weeks of uncertainty. The price of $PENDLE has moved back above its 50-SMA on the 4-hour chart, suggesting a shift towards bullish sentiment. While a sustained breakout to levels near the 200-SMA remains key, market indicators suggest that the recent recovery could be a sign of a more significant upward trajectory.