🚨 Suspected Polychain's massive PENDLE position has been transferred out, with an unrealized loss potentially reaching $3.25 million.

According to on-chain analyst Yu Jin's monitoring:

An institution (suspected to be Polychain Capital) accumulated at an average price of $2.98 from March to September.

➡️ 4.114 million PENDLE (costing about $12.26 million).

However, 8 hours ago, this batch of chips was completely transferred to FalconX.

Currently, the PENDLE price has dropped to $2.19,

implying an unrealized loss of approximately:

📉 $3.25 million

Is the institution unable to hold on any longer?

Or is it preparing for structured operations?

The subsequent capital flow is worth closely tracking.