As a seasoned crypto investor with a knack for spotting promising projects, I find myself intrigued by the recent listing of Pudgy Penguins (PENGU) on Bithumb. Having been through the rollercoaster ride that is the cryptosphere, I’ve learned to read between the lines of market movements and exchange listings.
On the popular South Korean cryptocurrency exchange, Bithumb, the Pudgy Penguins token has been added. This addition led to a 20% increase in the PENGU’s price immediately after the announcement, showing increased investor enthusiasm due to significant listings. The token has gained considerable attention thanks to its robust community backing and recent market activities. Furthermore, this new listing could boost PENGU’s adoption, particularly within the Korean market, adding fuel to its ongoing price surge.
Bithumb Lists Pudgy Penguins
On December 24th, Bithumb unveiled that they would be listing Pudgy Penguins (PENGU) on their Korean Won market. Starting two hours after the announcement, deposits and withdrawals for this Solana-based token became available. Trading was set to start at 5:00 PM KST. The opening price was fixed at 43.89 KRW, reflecting its rising popularity within the crypto market.
In order to maintain secure transactions, Bithumb temporarily limited buying and selling orders. During the first five minutes of trade initiation, no buying orders were processed. To prevent sudden fluctuations in prices, selling orders were also regulated, with a maximum decrease of 10% and a maximum increase of 100% from the standard price during the initial trading stage.
Deposits can only be made via exchanges that have been approved by Bithumb, as well as through the Solana network. Any deposits that do not comply with these requirements may experience delays in processing or refunds. Therefore, it’s essential for users to follow Bithumb’s deposit guidelines carefully.
Price Volume and Market Context
After Bithumb announced they would list PENGU, its price jumped 20% to reach $0.031. The day’s lowest and highest prices were at $0.02573 and $0.03157 respectively. With a market cap of $1.96 billion and a trading volume of $581 million, this token is generating substantial interest.
According to Coinglass, there was an increase in trading activity on PENGU’s Futures Market. The trading volume peaked at around $687 million, and the Open Interest climbed up to $115 million. This growth indicates that PENGU is gaining more attention in the derivatives market.
In a significant jump, the value of Pudgy Penguins (PENGU) tokens has risen more than 700% from their initial release and distribution, suggesting high interest in the token. The project has been swiftly gaining recognition within the cryptocurrency world, bolstered by endorsements from major crypto platforms. For clarity, it’s worth noting that Binance, a prominent exchange, has also expressed support for this newly launched digital asset, which is attracting growing attention.
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2024-12-24 11:00