Bithumb, a prominent cryptocurrency exchange in South Korea, has officially listed the Pudgy Penguins token (PENGU), leading to a notable surge in its market price. Following the announcement, PENGU saw a remarkable 20% rise, indicating a robust interest from the crypto community that is positively influencing the token’s market trajectory.
What Changes Occurred with Pudgy Penguins Listing?
On December 24, Bithumb made the announcement regarding Pudgy Penguins (PENGU) being available for trading on the KRW market. The exchange promptly enabled the deposit and withdrawal functions for the Solana-based token within two hours, with trading starting at 17:00 KST. The opening price was established at 43.89 KRW, reflecting a heavy demand from the market.
How is the Market Responding to PENGU?
The recent listing has led to significant fluctuations in PENGU’s price, which peaked at $0.031, and the total market cap is currently reported at $1.96 billion. Daily trading activity reached $581 million, showcasing a heightened interest in PENGU across the trading platforms.
Concrete Insights:
- PENGU’s price surged by 20% upon its listing.
- Trading volume reached $581 million shortly after the launch.
- Futures trading volume climbed to $687 million, indicating growing speculative interest.
- The token experienced over 700% increase in value post-launch.
The successful listing of Pudgy Penguins is a promising indicator of its potential for increased adoption in the South Korean market. With substantial community backing and favorable market conditions, the token may continue to maintain its upward momentum.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Source: https://en.bitcoinhaber.net/pudgy-penguins-token-launches-on-bithumb-exchange