Crypto Investor Makes Over $8 Million Profit from Altcoin Investment
13.11.2024 8:00 1 min. read Kosta Gushterov
Some cryptocurrency investors are making huge profits at the moment with prices rising across the board.
A long-term investor in PENDLE recently saw a massive return on their investment, turning $1.2 million into an impressive $9.36 million.
This remarkable gain came after nearly a year of holding the asset, demonstrating the power of patience in the volatile cryptocurrency market.
According to Spot on Chain, the investor purchased 1.595 million PENDLE tokens between July 29 and November 11, 2023, at an average price of $0.752. Over the course of the year, PENDLE’s price surged by 400%, dramatically increasing the value of the initial investment.
At the peak, the investor sold 1.295 million of the tokens for $7.61 million, locking in a profit of $7.16 million. They still retained 300,000 PENDLE, which at current prices is worth around $1.7 million.
Overall, the investor saw a return of 680%, equating to a profit of $8.16 million from their strategic investment in PENDLE.
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