According to @EmberCN, Pendle’s multisig wallet 0x8119EC16F0573B7dAc7C0CB94EB504FB32456ee1 transferred 1.2 million PENDLE, worth about $6.44 million, to Binance roughly 10 minutes ago, with the transaction visible on Arkham Intelligence explorer. @EmberCN added that this was another repeat transfer from the same multisig to Binance, indicating continued exchange-bound flows from this address. Exchange inflows to centralized venues are commonly used as a proxy for potential sell pressure or liquidity provisioning, according to research from Glassnode and Binance Research. To validate whether inflows convert into actual selling, monitoring exchange inflow metrics alongside price and volume is recommended by CryptoQuant.