Crypto News

Pendle Approaches $2B Market Cap Amidst Bullish Surge

Pendle, the decentralized finance (DeFi) token, is edging closer to the $2 billion market cap milestone, currently standing at $1.75 billion. 

The token’s trajectory remains decidedly bullish across all timeframes, with a remarkable 17% gain today and a staggering 147% surge over the past month, culminating in an all-time high of $7.517.

The surge in Pendle’s price today prompted notable activity from HashKey, a discerning investor known for capitalizing on price movements. 

HashKey deposited 500,000 $PENDLE tokens, valued at $3.54 million, to Binance, leveraging their expertise in buying low and selling high to capitalize on the current bullish sentiment surrounding Pendle.

Hashkey Still Holds 446,679 Pendle Tokens

With a strategic approach to trading, HashKey has proven adept at maximizing profits. Despite the recent deposit, they still hold 446,679 $PENDLE tokens, valued at $3.18 million, representing a substantial portion of their initial investment. 

Notably, HashKey has amassed a total profit of approximately $9.7 million from trading $PENDLE, achieving an impressive return on investment (ROI) of over 470%.

As Pendle’s market cap continues to climb and the token maintains its bullish momentum, investors like HashKey are poised to capitalize on the opportunities presented by the dynamic cryptocurrency market. 

With Pendle’s strong performance and growing market presence, it remains an asset of interest for both traders and long-term investors seeking exposure to the burgeoning DeFi sector.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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