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HashKey’s Profitable PENDLE Trades: A Detailed Analysis

HashKey has recently deposited all 624,804 PENDLE tokens, worth $4.28 million, to Binance at a price of $6.765 per token. This move contributed to a 5% decline in PENDLE’s price over the past 24 hours. 

This latest transaction marks the conclusion of HashKey’s third PENDLE trade, netting them a massive profit of $7.21 million, reflecting a 263% gain.

HashKey has proven to be a strategic PENDLE trader, adept at buying low and selling high. Their overall trading activities with PENDLE have yielded an estimated total profit of $9.94 million, showcasing a remarkable 350% return. Here’s a summary of HashKey’s performance with PENDLE:

  1. First Trade Cycle:

   – Acquisition: HashKey vested 2.714 million PENDLE from Pendle Finance between July 2021 and April 2022 at an average price of $0.399, totaling $1.08 million.

   – Sale: They then deposited these tokens to MEXC at a price of $0.05, resulting in a sale worth $135,000 on June 9, 2022.

  1. Second Trade:

   – Acquisition: HashKey withdrew 2.414 million PENDLE from Gate.io at an average cost of $0.042, totaling $102,000 on November 10, 2022.

   – Sale: These tokens were then deposited to Binance at $1.151 per token, amounting to $2.78 million on July 3, 2023. This trade realized a profit of $2.67 million, representing a 2,662% return.

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  1. Third Trade:

   – Acquisition: HashKey withdrew 1.825 million PENDLE from Binance at an average price of $1.502, with an estimated cost of $2.74 million between July 6, 2023, and April 30, 2024.

   – Sale: These tokens were deposited back to Binance at an average price of $5.455 on February 7, April 11, and May 28, 2024, during significant price surges, netting $9.95 million. This trade yielded a profit of $7.21 million, or a 263% return.

HashKey’s strategic approach to trading PENDLE highlights their expertise in timing the market, consistently capitalizing on price fluctuations to maximize profits. Their impressive returns from these trades underscore their position as a savvy player in the PENDLE market.

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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Image Source: loft39studio/123RF // Image Effects by Colorcinch

 

Will Izuchukwu

Will is a News/Content Writer and SEO Expert with years of active experience. He has a good history of writing credible articles and trending topics ranging from News Articles to Constructive Writings all around the Cryptocurrency and Blockchain Industry.

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