The rise in Bitcoin and altcoins helped investors multiply their profits. At this point, many investors who invested early were rewarded for their patience.
One of them was the PENDLE investor.
Cryptocurrency data analytics platform Spot on Chain announced that an investor turned $1.2 million into $9.36 million thanks to the increase in the price of PENDLE.
A crypto investor made more than 6.8 times his PENDLE investment, turning $1.2 million into $9.36 million. This profit was not a one-minute gain, it lasted almost a year and showed how long-term investing pays off.
Accordingly, this investor purchased 1.595 million PENDLE between July 29 and November 11, 2023. During this period, he purchased $1.2 million worth of PENDLE at an average price of $0.752.
His investment increased to $9.3 million after the PENDLE price increased by 400% in a year.
After this increase in the PENDLE price, the investor sold and sold 1.295 million PENDLE worth $7.61 million.
This investor made $7.16 million from the sale of PENDLE and was left holding 300,000 PENDLE worth $1.7 million.
The investor made a total profit of 680%, or $8.16 million, from his PENDLE investment.
PENDLE continues to trade at $5.29 at the time of writing.
*This is not investment advice.
