Andrew Kang, a prominent cryptocurrency trader and investor, recently purchased 3.71 million RDNT tokens worth approximately $1.05 million from decentralized exchanges and Binance.
At an average price of $0.287 per token, it traded 215.3 ETH for 1.4 million RDNT and pulled 2.3 million RDNT from Binance.
RDNT price is trading at $0.2942 at the time of this writing.
RDNT is the native token of Radiant Capital, a cross-chain borrowing and lending protocol built on LayerZero. Radiant Capital allows users to earn interest and borrow assets on different blockchains such as Ethereum, Binance Smart Chain, Arbitrum and zkSync.
The total unlocked value of the protocol is over $260 million, generating income from interest and flash loan fees.
In his post after the acquisition, Kang shared his bullish thesis on Radiant Capital, describing it as "the new king of the money markets" and, in his opinion, defending its various features and advantages over competitors such as Aave and Compound.
Kang suggests that Radiant will benefit greatly from the rise of the LayerZero and ZkSync trends. According to the entrepreneur, Radiant can be used to farm potential airdrops, attracting users looking for such opportunities.
Kang also highlighted Radiant's active community involvement. According to Kang, DAO management proposals receive an average of more than 2,000 votes, and one-third of all token holders are registered with Snapshot.
*Not investment advice.
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