HashKey Deposits 500K $PENDLE to Binance, Profit Taking Likely

One of the recent notable moves has been HashKey, a major cryptocurrency player, depositing 500,000k $PENDLE tokens to Binance. According to the information shared by Lookonchain, this deposit, which is amounting to around $3.54 million, has been made today early morning.

Pendle ($PENDLE) Triples in Value Over Two Weeks, Rises in RWA Narrative

Clearly, the main strategy of HashKey is acquiring $PENDLE tokens for low prices and selling them as their value increases. The company still has 446.679 $PENDLE tokens in its account, which is almost exactly $3.18 million. Therefore, the trading activity with $PENDLE has generated $9.7 million, which results to the ROI of more than 470%.

Over the past three weeks, Pendle ($PENDLE) has delivered impressive gains, tripling in value. This surge in value positions Pendle as a leading coin within the Real World Asset (RWA) narrative.

HashKey’s $500K $PENDLE Deposit to Binance Sparks Market Speculation

This move is directly related to the news that HashKey has deposited $PENDLE tokens worth $500,000 to Binance. There are a few ways in which this can affect the cryptocurrency news. First of all, the value of $PENDLE tokens could be potentially affected, as such huge transactions always provoke market fluctuations.

In addition to this, traders and investors could decide to repeat the models used by HashKey. Lastly, the news in itself, suggesting that HashKey has managed to make money in the $PENDLE markets, could lead to the income growth of the popularity of the coins.

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