Pudgy Penguins is now available on Bithumb, one of the biggest cryptocurrency exchanges in South Korea. Amid heightened investor interest in large listings, the price of PENGU soared 20% after the announcement. The token has gained momentum thanks to the enthusiastic community backing and recent market activity. The recent PENGU price increase is fueled by its new listing, which positions it for greater adoption, particularly in the Korean market.
Bithumb Lists Pudgy Penguins
The Pudgy Penguins (PENGU) were added to Bithumb’s KRW market on December 24. Users could make deposits and withdrawals for the Solana-based coin two hours after the notification. Trading was set to begin at 5:00 PM KST. In response to rising demand in the cryptocurrency market, the starting price was fixed at 43.89 KRW. Bithumb temporarily limited the ability to place buy and sell orders, making trading more secure.
During the initial five minutes of trade, purchase orders were temporarily halted. To prevent wildly fluctuating prices, selling orders were also limited to 10% and 100% of the standard price during the first trading period. At the same time, only exchanges that Bithumb and the Solana network approve can process deposits. Users must comply with Bithumb’s deposit policies to avoid processing or refund delays for non-compliant deposits.
Price Volume and Market Context
The price of PENGU surged by 20% to $0.031 after the Bithumb listing announcement. Its low point over the past 24 hours was $0.02573, and its high point was $0.03157. The coin is getting much attention, with its market cap of $1.96 billion and $581 million in trading volume.
The Futures market on PENGU also witnessed a dramatic increase in trade volume. Additional evidence of the token’s growing popularity in the derivatives market is the $687 million volume in futures and the $115 million in open interest.
Price increases of more than 700% for Pudgy Penguins (PENGU) since airdrop distribution and launch indicate high demand for the token. Support from the top cryptocurrency exchanges has added to the project’s meteoric rise in popularity among crypto enthusiasts. As background, Binance has also announced its backing of the newly launched cryptocurrency, which has been rather popular.
Summary
Pudgy Penguins (PENGU) price rose 20% when Bithumb, a major South Korean cryptocurrency exchange, listed it. The December 24 listing positions PENGU for wider acceptance, notably in Korea. After the announcement, PENGU climbed to $0.031, achieving $1.96 billion in market cap and $581 million in trading volume. Trading activity increased after the listing, including futures trading. PENGU’s 700% price surge since the airdrop launch has garnered notice, which Binance sponsored.
FAQs
When was Pudgy Penguins listed on Bithumb?
Pudgy Penguins was added to Bithumb's KRW market on December 24, 2024.
How did Bithumb manage initial trading?
Bithumb limited buy and sell orders during the first five minutes to prevent price fluctuations.
What is PENGU's market cap and trading volume?
PENGU has a market cap of $1.96 billion and $581 million in trading volume.
How much has PENGU's price increased since launch?
PENGU's price has surged by more than 700% since its airdrop distribution.
