6 months ago
PENGU, the autochthonal token of non-fungible token (NFT) task Pudgy Penguins, has debuted astatine a $2.3 cardinal marketplace headdress aft the token was distributed to NFT holders via an airdrop.
The Solana-based token has a full proviso of 88.88 cardinal and has racked up astir $90 cardinal successful trading measurement successful the archetypal hr since release, CoinMarketCap shows.
23.5% of PENGU's proviso was allocated to the airdrop portion a further 22% has been acceptable speech from Solana and Ethereum communities. An further 12.3% of proviso volition besides beryllium utilized arsenic liquidity connected decentralized exchanges.
The level terms of the Pudgy Penguin NFTs has risen alongside the merchandise of PENGU, with the cheapest NFT present trading astatine 34.1 ETH ($136,000) to people a 2.6% increase. It is present the 2nd astir costly postulation aft CryptoPunks.
It has outperformed the wider NFT marketplace which remains successful a multi-year slump pursuing the emergence of meme coins this cycle. NFTs were the plat du jour successful 2022 amongst the much speculative crypto investors, but arsenic hype and liquidity withered distant truthful did plus prices. Trading measurement connected NFT speech OpenSea topped $2.7 cardinal successful a azygous time successful 2022, whilst this period it has struggled to apical $30 million.
CORRECTION: Dec. 17, 15:26 UTC. Updates headline, subheading and opening paragraph to bespeak close marketplace capitalization of PENGU.
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