BitMEX co-founder Arthur Hayes has recently increased his investment in a decentralized finance (DeFi) altcoin project by about $500,000, according to data from the Ethereum block explorer Etherscan. Hayes purchased over 98,560 Pendle tokens, which enable users to tokenize and sell future yields. The transaction was conducted through Wintermute, a prominent digital assets trading firm. Hayes, who also serves as an advisor for the Pendle project, now holds more than 1,555,697 PENDLE tokens valued at over $7.7 million. In response to the broader crypto market correction on May 2nd, Hayes had announced his intention to further invest in Pendle, along with Solana and memecoins for momentum trading positions. He expects Bitcoin to trade sideways until August, with a rally above $60,000 followed by a range-bound price action between $60,000 and $70,000. At the time of writing, Pendle is trading at $4.96, reflecting a decrease of more than 3% in the last 24 hours.