HashKey Capital’s address, hki.eth, recently withdrew 583,000 PENDLE tokens from Binance, amounting to a substantial $2.2 million.

This acquisition positions PENDLE as the top holding in the hki.eth address and marks it as the fourth-largest holding within HashKey Capital’s on-chain portfolio.

HashKey’s history with PENDLE is noteworthy. Between July 2021 and April 2022, the address received 2.71 million PENDLE tokens distributed by the Pendle project. By June 2022, all these tokens were deposited back to the exchange.

HashKey Capital has a track record of buying PENDLE at low prices and selling at peaks, resulting in a remarkable profit of approximately $9.96 million from PENDLE trades.

Pendle Finance (Pendle_fi) is distinguished by its market characteristics, notably its fully diluted valuation (FDV) being almost equal to its market cap. This suggests that venture capital firms have minimal control over the token, offering a level of decentralization that appeals to investors.

This Year Alone, PENDLE Has Recorded Massive 7x Increase 

This year, PENDLE has seen a significant 7x increase, entering an accumulation phase that presents a prime opportunity for buying at a dip. HashKey Capital’s recent withdrawal aligns with this strategy, indicating confidence in PENDLE’s long-term potential and market stability.

The strategic move by HashKey Capital underscores their adeptness at timing the market to maximize returns. As PENDLE continues to gain traction, HashKey’s investment actions will likely influence broader market sentiment, drawing attention to Pendle Finance’s unique positioning in the crypto landscape.

For investors and market watchers, HashKey Capital’s activities with PENDLE offer insights into effective market strategies and the potential for significant returns in the evolving digital asset space.

The ongoing developments with PENDLE and its market performance will be closely monitored, given its recent gains and strategic accumulation by major players like HashKey Capital.

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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