Wintermute, a prominent market maker in the crypto space, has taken the reins as the liquidity provider for the newly launched Penguin coin ($PENGU).
Over the past two days, Wintermute’s addresses have been highly active, holding a combined total of 18.7 million PENGUs worth approximately $602,000.
Known for its aggressive market-making strategies, Wintermute has established a significant presence in the cryptocurrency space, often engaging with new, trending, venture capital-backed, and meme coins. Its involvement with $PENGU signals growing institutional interest in the token, which is already gaining traction as a novel initiative by an NFT OG project during this market cycle.
$PENGU has posted impressive early metrics, with its fully diluted valuation (FDV) holding steady at around $2.8 billion. The token’s trading volume in the past 24 hours has reached a staggering $2.34 billion, with Binance accounting for nearly 22% of the activity—equivalent to $513 million in volume.
Wintermute 为小企鹅新币 $PENGU 做市商⚒️
目前 Wintermute 的两个地址共持有 1870 万枚 PENGU，价值 60.2 万美金，且近两天频繁进行 PENGU 交互
Wintermute 这几个月真的杀疯了，新币 / 热币 / VC 币 / Memecoin 都有它的份啊👻 做市地址 https://t.co/SMa5CSurdR https://t.co/FrVZD9mC8z pic.twitter.com/kADKNjQtIN
— Ai 姨 (@ai_9684xtpa) December 19, 2024
As $PENGU cements itself as a standout in the meme coin category, Wintermute’s active participation is likely contributing to the token’s liquidity and price stability. This collaboration showcases the market maker’s continued influence in supporting both emerging and high-potential assets within the crypto ecosystem.
With its origins tied to a recognized NFT project, $PENGU’s strong early performance highlights the convergence of NFTs and meme coins as a growing trend in the blockchain space. As trading volume and community interest continue to rise, the token’s trajectory will be closely watched by both retail and institutional investors alike.
Wintermute’s role in market-making ensures $PENGU remains liquid and accessible, further solidifying its position as one of the most talked-about meme coins of this cycle.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Source: https://nulltx.com/wintermute-powers-market-making-for-new-meme-coin-pengu-amid-surging-activity/