A certain Pendle team transferred 400,000 PENDLE to the CEX from their assigned address

According to on-chain analyst EmberCN, an address belonging to the Pendle team transferred 400,000 PENDLE ($2.7M) into CEX one hour ago. This address unlocked and received 900,000 PENDLE on April 29, 2022, and will unlock and receive another 225,000 PENDLE every quarter for the next year, totaling an unlocking of 1.8 million PENDLE.

Based on the unlocking period of PENDLE tokens, this address belongs to the Pendle team. The rules for unlocking Pendle team's tokens are: after token launch in April 2021 it unlocks quarterly over two years with a one-year cliff period.

Pendle is one of the most outstanding DeFi projects in this bull market round; its token PENDLE has increased tenfold in value over the past six months.