BitcoinWorld Pendle PENDLE Deposit: A Strategic Binance Move Ignites Market Curiosity The cryptocurrency world is always buzzing with activity, and a recent development involving the DeFi yield protocol Pendle has certainly captured attention. Just recently, a significant Pendle PENDLE deposit of 900,000 PENDLE tokens, valued at approximately $4.65 million, was observed moving into the major crypto exchange Binance. This substantial Binance transfer immediately sparked discussions and had a notable impact on the token’s value. Understanding the Pendle PENDLE Deposit: What Happened? About half an hour before the initial reports, a multisignature wallet linked directly to the innovative Pendle protocol executed this sizable transaction. The transfer, amounting to 900,000 PENDLE tokens, was swiftly moved to Binance. This information was brought to light by crypto analytics account @EmberCN on X, providing timely insights into the blockchain’s transparent movements. Volume: 900,000 PENDLE tokens. Value: Approximately $4.65 million at the time of transfer. Origin: A multisignature wallet associated with the Pendle protocol. Destination: The prominent cryptocurrency exchange, Binance. Such large transfers from project wallets to exchanges often precede significant market events or strategic moves, making them crucial points of interest for investors tracking crypto market activity . Why the Binance Transfer Matters for PENDLE Price Surge Following this substantial Binance transfer , the PENDLE token experienced a remarkable uptick in its price. According to data from CoinMarketCap, PENDLE was trading at $5.09, reflecting an impressive 27.2% increase in just 24 hours. This sudden PENDLE price surge highlights the immediate market reaction to large-scale movements of assets. Several factors could contribute to such a rapid price response: Increased Liquidity: Depositing tokens to an exchange can prepare for increased trading volume, which might be interpreted positively by the market. Strategic Intent: It could signal an upcoming partnership, listing, or a strategic treasury management decision by the Pendle protocol team. Speculative Trading: Traders often react quickly to large transfers, anticipating potential buy or sell pressure, leading to volatility. The market often interprets such a move as a sign of forthcoming developments, leading to a surge in demand and price. Implications for the Pendle Protocol and DeFi Yield Pendle Finance is a decentralized finance (DeFi) protocol that allows users to tokenize and trade future yield. This innovative approach enables users to lock in future yield at a fixed rate or speculate on yield fluctuations. The recent Pendle PENDLE deposit into Binance could have several implications for the protocol’s future and its role within the broader DeFi ecosystem. For the Pendle protocol , this transfer might be part of a broader strategy: Ecosystem Development: Funds might be allocated for new initiatives, partnerships, or expanding the protocol’s offerings. Market Making: The team might be providing liquidity to ensure healthy trading conditions for PENDLE on Binance. Treasury Management: It could be a routine rebalancing or diversification of the protocol’s treasury assets. Understanding these potential reasons is key to grasping the full scope of this significant Binance transfer . Navigating Crypto Market Activity: What Investors Should Know For investors, observing significant transactions like the Pendle PENDLE deposit offers valuable insights into potential market shifts. While a PENDLE price surge is exciting, it is always important to approach such events with a balanced perspective. The crypto market is dynamic and can be volatile. Here are some actionable insights for navigating such crypto market activity : Research Thoroughly: Always look beyond the headlines. Investigate the protocol’s fundamentals, its use cases, and its long-term vision. Monitor On-Chain Data: Tools that track large wallet movements, like the one used by @EmberCN, can provide early signals. Consider Risk: High volatility can lead to significant gains but also substantial losses. Never invest more than you can afford to lose. Diversify: Spreading investments across different assets can help mitigate risks associated with single token movements. Staying informed and exercising caution are paramount in the fast-paced world of cryptocurrency. Conclusion: A Glimpse into Strategic Crypto Movements The recent Pendle PENDLE deposit of $4.65 million into Binance serves as a compelling example of how large-scale on-chain movements can immediately influence token prices and broader crypto market activity . While the exact strategic reasoning behind this Binance transfer remains with the Pendle team, the resulting PENDLE price surge underscores the market’s sensitivity to such events. This development highlights the importance of staying vigilant and understanding the potential implications of significant transactions within the DeFi and cryptocurrency landscape. Frequently Asked Questions (FAQs) Q1: What is Pendle Finance? A1: Pendle Finance is a DeFi protocol that allows users to tokenize future yield, enabling them to fix future yield, or speculate on its fluctuations. It essentially separates the principal and yield components of an asset. Q2: Why did Pendle deposit such a large amount of PENDLE into Binance? A2: While the exact reason for the Pendle PENDLE deposit is not publicly disclosed, such large Binance transfers can be for various strategic purposes, including increasing liquidity, preparing for new listings, treasury management, or ecosystem development initiatives. Q3: How did the PENDLE price react to this deposit? A3: Following the deposit, PENDLE experienced a significant PENDLE price surge , increasing by 27.2% in 24 hours, trading at $5.09 according to CoinMarketCap data, indicating a strong positive market reaction. Q4: Is a large deposit to an exchange always a positive sign for a token’s price? A4: Not always. While this particular Binance transfer coincided with a positive price movement, large deposits can also precede significant selling pressure. It is crucial to analyze the context, the project’s fundamentals, and broader crypto market activity . Q5: Where can I track similar large crypto transactions? A5: You can track large crypto transactions using blockchain explorers and on-chain analytics platforms. Many crypto news outlets and social media accounts, like @EmberCN, also report on such significant movements. If you found this article insightful, consider sharing it with your network! Help us spread awareness about important developments in the cryptocurrency space by sharing on social media. To learn more about the latest crypto market trends, explore our article on key developments shaping the DeFi sector’s future price action. This post Pendle PENDLE Deposit: A Strategic Binance Move Ignites Market Curiosity first appeared on BitcoinWorld and is written by Editorial Team
Bitcoin price is again rising above the $115,500 zone. BTC is now consolidating and might aim for a move toward the $120,000 resistance zone. Bitcoin started a fresh increase above the $115,500 zone. The price is trading above $115,500 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support at $115,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might start another increase if it clears the $117,500 resistance zone. Bitcoin Price Aims Higher Bitcoin price found support near the $112,200 zone and started a fresh increase . BTC was able to climb above the $113,500 and $114,800 resistance levels. The price even cleared the $115,500 resistance to move into a positive zone. Finally, the price tested the $117,500 resistance zone. A high was formed at $117,643 and the price is now consolidating gains above the 23.6% Fib retracement level of the upward move from the $112,629 swing low to the $116,643 high. Bitcoin is now trading above $115,000 and the 100 hourly Simple moving average . There is also a key bullish trend line forming with support at $115,600 on the hourly chart of the BTC/USD pair. Immediate resistance on the upside is near the $117,200 level. The first key resistance is near the $117,500 level. The next resistance could be $118,250. A close above the $118,250 resistance might send the price further higher. In the stated case, the price could rise and test the $119,200 resistance level. Any more gains might send the price toward the $120,000 level. The main target could be $121,500. Another Drop In BTC? If Bitcoin fails to rise above the $117,500 resistance zone, it could start another decline. Immediate support is near the $116,450 level. The first major support is near the $115,600 level and the trend line. The next support is now near the $114,550 zone or the 61.8% Fib retracement level of the upward move from the $112,629 swing low to the $116,643 high. Any more losses might send the price toward the $113,800 support in the near term. The main support sits at $112,500, below which BTC might continue to move down. Technical indicators: Hourly MACD – The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $115,600, followed by $114,550. Major Resistance Levels – $117,500 and $118,250.
SharpLink Gaming's $200M purchase aims for 5% ETH market share. Fundmetal Global plans $5B Ethereum, overshadowing others. Continue Reading: SharpLink Gaming Makes Bold Moves with ETH Acquisitions The post SharpLink Gaming Makes Bold Moves with ETH Acquisitions appeared first on COINTURK NEWS .
Tesla is parting ways with one of its most influential hardware leaders. Pete Bannon, the company’s chip and Dojo supercomputer chief, has departed after nearly a decade of service. He joined Tesla in 2016 from Apple, where he had been a key figure in designing the company’s A-series chips. At Tesla, Bannon became instrumental in building the company’s custom silicon capabilities, overseeing projects to help define the automaker’s AI ambitions. Bannon’s most high-profile responsibility was leading the development of Dojo, Tesla’s in-house supercomputer designed specifically for artificial intelligence training. He reported directly to CEO Elon Musk and was considered central to Tesla’s strategy to reduce reliance on external AI hardware providers like Nvidia. His departure comes as Tesla makes a significant strategic pivot. The company has decided to shut down the Dojo program entirely, dissolving the team that has been working on it for years. Engineers from the project are being reassigned to other computing and data center initiatives within Tesla’s broader operations. Bloomberg was the first to break the news, later confirmed by multiple industry sources, that Musk personally ordered the change in direction. At Tesla, Dojo stood out as one of the company’s most ambitious technical projects. The system was intended to be a bespoke AI training platform driven by Tesla-designed chips that could handle the vast amount of video and sensor data collected daily from its global fleet. That data is essential to advancing Tesla’s Full Self-Driving (FSD) and robotics programs, for which Dojo was expected to be central. Tesla winding down the project represents a huge departure from its AI roadmap. The move suggests the company is stepping back from a strategy of building its own AI chips effectively from scratch toward working more closely with established chip and hardware makers. Musk orders reboot of AI strategy Elon Musk is changing Tesla’s AI strategy . Instead of developing its own computing hardware, Tesla will outsource more to vendors like Nvidia, AMD, and Samsung. The deal signed with Samsung by Tesla for its future-gen A16 AI chips is estimated at $16.5 billion. The company is also rapidly ramping up using Nvidia’s AI training high-performance GPUs. The move is a significant departure from Musk’s initial vision for Dojo, which was intended to become the AI equivalent of Tesla’s well-regarded Supercharger network and a point of differentiation that would help it outpace rivals. The Dojo project has faced technical challenges and delays since its unveiling in 2021. Many engineers who worked on the system have left the company. Around 20 have already moved on to launch an AI startup called DensityAI . Tesla’s decision to close the Dojo team effectively ends its in-house supercomputing push. The company will now channel resources into other AI infrastructure and driver-assistance projects. On the company’s July earnings call, Musk had said Tesla expected the latest Dojo version to run at scale next year. But the abrupt shutdown suggests priorities have shifted. Tesla eyes partnerships for compute needs The service marks a shift for Tesla, which, up until now, has been doing all training computing internally. Most of the heavy lifting will be done by Nvidia’s latest GPUs . AMD is also likely to contribute processing for some projects. Samsung will play a key role in Tesla’s chip production. It’s a way for Tesla to tap into state-of-the-art hardware at little risk and cost instead of just building its gargantuan supercomputers from scratch. The move comes as Tesla tests limited Robotaxi services in Austin and San Francisco. In Austin, a human safety supervisor still rides in the passenger seat. In San Francisco, human drivers operate the vehicles while users hail them through a “Tesla Robotaxi” app. Tesla has seen an exodus of senior talent this year, with the departure of Bannon adding to the list. Former Optimus robotics head Milan Kovac, software VP David Lau, and Musk’s former chief of staff Omead Afshar have also left. Get seen where it counts. Advertise in Cryptopolitan Research and reach crypto’s sharpest investors and builders.
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India’s Income Tax Department has intensified its efforts to curb tax evasion in the cryptocurrency sector, sending more than 44,000 notices to traders who failed to disclose their virtual digital asset (VDA) transactions in their income tax returns. Indian Tax Watchdog Ups The Ante In a recent session of the Rajya Sabha (Upper House of the Parliament), India’s Minister of State for Finance, Pankaj Chaudhary, revealed that the Central Board of Direct Taxes (CBDT) had launched enforcement actions against non-compliant crypto users. These include reassessment notices, surveys, and search-and-seizure operations under the Income Tax Act, 1961. To promote voluntary compliance, the CBDT has initiated targeted awareness efforts through its NUDGE campaign (Non-Intrusive Usage of Data to Guide and Enable). Under this program, a total of 44,057 emails and messages were issued to individuals who were found to be investing or trading in crypto assets but had not reported these transactions in their tax filings. The Indian government introduced a tax on digital asset income starting in the 2022-23 financial year. Since then, taxpayers have reported approximately ₹705 crore ($80.6 million) in crypto-linked income for FY 2022-23 and 2023-24 combined. However, enforcement actions such as surveys and raids led to the discovery of an additional ₹630 crore ($72 million) in undisclosed income related to cryptocurrencies. It’s worth noting that accusations of tax evasion have been directed not only at individual taxpayers, but also at crypto exchanges. Notably, the CBDT is leveraging data analytics tools such as Non-Filer Monitoring System (NFMS), Project Insight, and its internal databases to increase oversight of crypto transactions. The report adds: These tools help cross-reference information provided in tax filings with actual transactions reported by Virtual Asset Service Providers (VASPs) via TDS returns. Discrepancies identified through this system are followed up with enforcement actions to ensure accurate reporting and recovery of tax dues. Uncertainty Plagues India’s Crypto Ecosystem While India ranks among the top countries globally for crypto adoption, its taxation and regulatory stance have been a point of contention. The combination of a 30% tax on crypto profits and a 1% TDS on every trade has discouraged many retail traders and investors. As a result, a number of crypto exchanges in India have reported dwindling trading volumes, leading to businesses announcing layoffs or getting shut. Earlier this year, crypto exchange Bybit announced it was temporarily halting its operations in India due to lack of regulatory clarity. In contrast, neighbouring country Pakistan has shown a more receptive approach toward digital assets. Earlier this year, the South Asian country stated that it would tap excess energy to mine more BTC. Similarly, the UAE continues to cement its place as the global hub for crypto businesses. In November 2024, the nation eliminated Value Added Tax from all transactions in cryptocurrency exchanges and conversions. Despite these challenges, there are signs that India may be reassessing its approach. In July 2025, Pradeep Bhandari, spokesperson for the Bharatiya Janata Party (BJP), called on the government to explore creating a national Bitcoin reserve, suggesting potential long-term interest in integrating crypto into the financial system. Adding to the momentum, Coinbase, the largest US-based crypto exchange, is set to re-enter the Indian market later this year, signaling that global firms remain optimistic about India’s long-term crypto potential, even amid short-term uncertainty. At press time, BTC trades at $116,720, up 1.2% in the past 24 hours.
In a bold move that could reshape the crypto landscape, the US President is reportedly preparing to sign an executive order aimed at protecting access to BTC and digital assets. If enacted, this landmark policy would redefine the relationship between digital assets and the US financial system. Bitcoin Steps Into The Political Spotlight Bitcoin has officially entered the hall of power, as the US President Donald Trump is preparing to sign an executive order that would prohibit banks from refusing services to Bitcoin and crypto-related companies. This move signals a major shift in the US policy and ends years of financial censorship against the crypto industry. Related Reading: Strategy Expands Bitcoin Holdings With Massive Third-Largest Acquisition According to a crypto enthusiast, Henry, with this impending order, the crypto industry appears to be getting serious respect from the White House, after years of regulatory uncertainty and political pushback. In the coming days, Henry suggests that positive developments are on the horizon, especially involving Federal Reserve Chair Jerome Powell. This kind of attention from the highest levels of government could shake up the entire market and trigger a wave of institutional interest and volatility. If this happens, it would be more than just good news, as it would be a game-changer. Not only could it act as a major catalyst for BTC, it would also open the doors for crypto businesses to access traditional financial services, which they need for growth. Bitcoin is gaining recognition among the highest forms of governments across the world. Reports show that the Indonesian Vice President Gibran Rakabuming Raka is exploring the possibility of adding Bitcoin to the country’s national reserves, according to a recent post from Bitcoin Indonesia. The move represents a bold step toward integrating digital assets into sovereign finance. If implemented, Indonesia would become one of the first major Asian economies to formally recognize BTC as a reserve asset, signaling a shift in how governments hedge against inflation, currency risk, and geopolitical uncertainty. The global spotlight is increasingly turning to crypto adoption at the state level. The Bhutan Government Moves $59.2 Million In BTC Several countries are engaging BTC globally at a rapid rate. In a significant and quietly executed move, the government of Bhutan has transferred 517 BTC, valued at approximately $59.2 million, to a new cryptocurrency wallet. This substantial transfer of BTC, reported by Crypto Rover on X, has sparked speculation among analysts and the crypto community about potential custody changes or strategic moves. Related Reading: Bitcoin’s $115K Struggle: Is a Deeper Drop on the Horizon? The Himalayan kingdom of Bhutan has consistently maintained a low profile in the world of sovereign crypto holdings, making it one of the most discreet yet active state players in the digital asset space. This recent movement may indicate a shift toward enhanced security and measures in BTC reserves. Featured image from Pixabay, chart from Tradingview.com