Pendle Moved $58B in Fixed Yield – So Why Is the PENDLE Price Still Down 64%?

Pendle (PENDLE) is pulling attention from both sides of the market. On one hand, Arthur Hayes rotated $3M into PENDLE and other DeFi yield plays, signaling growing interest in fixed-yield infrastructure.  On the other, Polychain Capital exited its entire position, pushing price lower and shaking confidence in the short term. All of this is happening