Crypto Trading Experiment — Gone Right (PENDLE) Part III

Wow. How did it make a 100% gain? And why I’m still hodling? No idea what I’m talking about? Read part one here! And read part two here.

Drake Flyer
2 min readJan 6, 2022

Price update?

Since my last update, the PENDLE chart created a double bottom chart and after bullish price confirmation I made another entry at $0,305.

The current price on Crypto.com Exchange (06. 01. 2021 at 11:35 CET) is $0.59968. Up almost 100% of my initial investment. I guess I had the right idea and some luck.

Clearly overextended though. Healthy correction on its way!

Target price?

It has been an insane ride and it looks like it’s not yet over. I still haven’t taken any profits, because the project seems to be just starting off. Therefore, I can’t determine any price target. We will just have to sit tight and wait. Maybe it goes back to zero, maybe to $1,5. That is probably as high it can go without any big new project announcements.

More about PENDLE?

PENDLE looks like a unique protocol with a good idea, but the founding team has yet to prove their value. It’s a project I’m keeping under my radar since it got listed on the exchange I use.

Won’t post any referrals, because all I want is to do is to educate.

Get to the point?

Pendle is the first protocol that enables the trading of tokenized future yield on an AMM system. We aim to allow holders of yield-generating assets to generate additional yield and to lock in future yield upfront, while offering traders direct exposure to future yield streams, without the need for underlying collateral.

Good luck!

Disclaimer

I own PENDLE. I have bought PENDLE at $0,32 and $0,295 (last month) and $0,305 (this week). I will let you know how things turn out in the next few weeks!

Oh, this is not financial advice. Anything said is my non-exhaustive personal interpretation of available data at the time, and should not be construed as financial advice. Crypto and DeFi are risky, and you stand the risk of losing all or some of the money you put in.

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Drake Flyer

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