Markets· ★★· bearish· October 8, 03:00

PENDLE drops 10% as transactions fall 46%, but positive funding hints at rebound

—PENDLE fell nearly 10% in 24 hours; longs lost $261K versus $9,660 for shorts
—Transaction count dropped from 1,246 to 667, a 46% decline since September 25
—Active addresses fell from 651 to 387, down 40.5%
—Funding rate remains positive at 0.0032%, signaling traders still lean bullish

Why it matters: The sharp drop in on-chain activity weakens the fundamental case, but positive funding and whale dominance leave room for a rebound if the move proves to be a stop hunt.

#PENDLE

Source: AMBCrypto