Pendle

Despite continuous struggle in the cryptocurrency market since March 2024, Pendle (PENDLE) experienced a massive 137% gain in the last 30 days. Recently, an on-chain analysis firm made a post on X (previously Twitter) stating that HashKey, a leading end-to-end digital asset financial services group in Asia, deposited a massive 500K PENDLE tokens worth $3.54 million to the Binance cryptocurrency exchange. How many PENDLE tokens HashKey have? 
However, HashKey currently holds a massive 446k PENDLE token worth $3.18 million with a huge unrealized profit of over $9.7 million in PENDLE. Additionally, HashKey made a massive 470% return on his investment.Lookonchain, in its post on X, also highlights that HashKey is very good at buying PENDLE tokens at lower prices and selling them at higher prices. 
Besides this massive sell-off, PENDLE is currently trading near $7.45, and in the last 24 hours, it experienced a massive over 20% upside momentum. If we look at the performance of PENDLE over a longer period, in the last 7 days, it surged more than 50%. Whereas, in the last 30 days, the PENDLE token experienced a massive 137% upside momentum.
Data from CoinMarketCap also shows that investors as well as traders are continuously showing interest in PENDLE, as it gained a massive 40% of 24-hour volume and currently stands near $239 million. Who is backing the PENDLE token? 
However, HashKey is not the only institution that made a massive profit. Recently, Arthur Hayes, the co-founder, and ex-CEO of BitMEX, also made a massive profit in it. On April 11, 2024, Hayes made a post on X, where he shared things while stating “Paid for with PENDLE gainz.”
Paid for with
Besides booking profits in PENDLE, yesterday on April 10, 2024, when the overall cryptocurrency market plummeted, during that period, whales heavily added PENDLE tokens to their wallets.
According to the data shared byLookonchain, two whale addresses, 0xe675 and 0xAa4c, accumulated a massive 410.9k PENDLE tokens worth $2.71 million from Binance, the world’s biggest cryptocurrency exchange. It looks like lots of investors are printing money with PENDLE’s performance. 
Currently, the overall cryptocurrency market is recovering and also experienced a massive gain of 2.45%, whereas the 24-hour volume also surged by 2.4% and it currently stands near $93 billion.

Pendle upward run might halt after Hashkey’s $3.54 mln sell-off

Todayq News

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