blockchainreporter.net
HashKey, a smart institution known for its strategic trading, recently withdrew 583,070 $PENDLE from Binance, according to Spot On Chain. The value of these tokens is $2.22 million. This move marks HashKey’s third significant $PENDLE trade.
Smart institution HashKey withdrew 583,070 $PENDLE ($2.22M) from #Binance 15 minutes ago.
— Spot On Chain (@spotonchain) July 26, 2024
This is allegedly the third $PENDLE trade by HashKey.
Note that HashKey is super good at accumulating $PENDLE at low prices and selling at highs.
Between Nov 2022 and May 2024, HashKey… https://t.co/2SACToj0IS pic.twitter.com/EwpZhlw7HU
HashKey Profits from $PENDLE Price Swings, Earns $9.94M
In its trading strategy HashKey is famous for purchasing $PENDLE at lower prices and then reselling at those higher. Between November 2022 and May 2024, they have conducted two large $PENDLE trades. In total, they made $9.94M, 350% more than before.
This latest withdraw from Binance might be part of HashKey’s ongoing practice of profiting from the swings in the $PENDLE price. Analysis of their past trades reveals that they actively bought the token at low prices and sold it at high prices to make good profits.
The successful implementation of these trades shows that HashKey has a good understanding of the crypto market especially on $PENDLE. By making accurate bets on future prices and effectively time their trades they have been able to make a significant in the world of cryptocurrencies trading.
$PENDLE is a DeFi and RWA narrative token that lets you trade in the world of crypto. It has raised the interest of many traders and institutional investors such as HashKey due to its high price fluctuation and market trends.
HashKey’s Recent $PENDLE Withdrawal Hints at Big Trade Plans
All these prove that HashKey’s strategic actions coupled with high profit margins form the core of market timing and analysis when it comes to cryptocurrency trading. Their most recent withdrawal signals that they might be positioning themselves for another big trade either to sell at higher price or wait for further price hike.
Market participants and analysts will probably pay special attention to what HashKey does with $PENDLE since its actions usually reflect future market trends. The high profit margins demonstrated by HashKey in their trades show that trading in the crypto market is quite profitable for those who understand the market and have the right information.
Lastly, the recent action by HashKey where it pulled out $PENDLE from Binance is a big score on trading plan to earn more from buying and selling, as reported by SpotOnChain. HashKey past success and current actions highlight their expertise and the dynamic nature of cryptocurrency trading.