Crypto Trader Makes $18 Million Profit With PENDLE Token: Here’s His Strategy!

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Dominating the finance game, a savvy trader recently made significant transactions resulting in $18 million in profits! Yes, you heard that right!

According to reports from Lookonchain a prominent blockchain tracking platform, just three hours ago, the trader made a significant move by depositing a hefty 1.2 million PENDLE tokens into Binance, valued at around $6.74 million. But that’s not all – the trader still holds onto a substantial 2.23 million PENDLE tokens, worth about $12.3 million.

Here’s how he did it.

Trader’s Investment Strategy

This success story starts back on February 9, 2023, when the trader began acquiring 3.21 million PENDLE tokens. Armed with 869,757 USDC Coins, they snagged these tokens at an average price of $0.27 each, laying the groundwork for their future triumph.

A smart trader deposited 1.2M $PENDLE($6.74M) into #Binance 3 hours ago, with 2.23M $PENDLE($12.3M) left.

He spent 869,757 $USDC to buy 3.21M $PENDLE at $0.27 from Feb 9 to Apr 22, 2023, then withdrew 111,055 $PENDLE($226K) at $0.49 from #Gateio on Apr 27.

His total profit on… pic.twitter.com/yAtQnFEh4p

— Lookonchain (@lookonchain) April 26, 2024

With an eye for opportunity, the trader wasted no time capitalizing on market gains. On April 27, they withdrew 111,055 PENDLE tokens from Gate.io, where each token was selling for $0.49, adding to their burgeoning portfolio.

Also Read: PENDLE Price To Hit New ATH This Week As It Soars 11% Today?

A Lucrative Payoff

These savvy moves have swelled the trader’s profits from the PENDLE investment to an incredible $18 million, boasting a stellar Return on Investment (ROI) of 1841%. This impressive performance showcases the trader’s skill in navigating the volatile crypto landscape.

The success story of this PENDLE investment highlights the potential for substantial gains in the crypto market, particularly through strategic investments and astute decision-making. As interest in decentralized finance (DeFi) and blockchain assets continues to grow, traders are leveraging these trends to achieve notable returns.

Also Check Out: Legendary Trader Makes Millions: Here’s His Crypto Strategy!

Pendle Price Analysis

As things stand, the price of the Pendle token remains steady at $5.38, showing a slight 7% dip over the past day. Despite this, trading volume has soared to $76.50 million, indicating an active market with ongoing chances for profit.

This goes to show – fortune really does favor the bold!