According to Onchain Lens, a dormant whale address 0xa945e9cd8e44C5DC148e6b22786Caa3b8F83CEA0 withdrew 1,000,000 PENDLE worth about $5.05M from Binance and sent the tokens to Pendle Finance for staking, recorded on Sep 20, 2025; source: Onchain Lens. The shift from an exchange wallet to a staking contract removes 1M PENDLE from immediate exchange liquidity, implying thinner near-term sell-side depth for PENDLE trading pairs; source: Onchain Lens. Traders can monitor subsequent Binance PENDLE netflows, staking inflows to Pendle Finance, and order book depth for signs of tightening float that may affect slippage and execution; source: Onchain Lens.