PENGU Price Surges 20% Following Major Listing as Demand Shows No Signs of Slowing

The price of PENGU token surged 20% after its Bithumb KRW market debut, with trading volume reaching $581 million. The Solana-based token is gaining momentum, supported by exchange listings and increasing investor interest.

PENGU Gains Spotlight with Bithumb KRW Listing

Bithumb said on December 24 that the Pudgy Penguins (PENGU) cryptocurrency will be available on its KRW market.

Trading for the Solana-based token was set to begin at 5:00 PM KST, and deposits and withdrawals were opened two hours following the notice. Priced at 43.89 KRW, it is in line with the rising demand in the cryptocurrency market.

Bithumb temporarily limited buy and sell orders to guarantee safe trading.

The first five minutes of trade were reserved for a pause in buying orders. The selling orders were also limited between -10% and +100% of the standard price during the first trading period to prevent extreme price fluctuations.

Deposit Policies Focus on Solana Network Compliance

At the same time, only exchanges that are approved by Bithumb and the Solana network are able to process deposits. Customers must adhere to Bithumb's deposit procedures or risk having their payments delayed or refunded.

PENGU Price Surges 20% with High Trading Volume

With the announcement of Bithumb's listing, the price of the PENGU token jumped 20%, reaching $0.031, Coingape shares. It has a low of $0.02573 and a high of $0.03157 during the past 24 hours. The token is becoming popular due to its high trading volume of $581 million and market valuation of $1.96 billion.

Additionally, there was an uptick in trading activity on PENGU's Futures market, according to Coinglass. The token's rising popularity in the derivatives market was bolstered by futures volume hitting $687 million and open interest reaching $115 million.

700% Growth Demonstrates Increasing Demand

Given the high demand for Pudgy Penguins (PENGU) tokens, their price has increased by more than 700% since its introduction and airdrop distribution.

With the backing of the top cryptocurrency exchanges, the project has quickly become a favorite among crypto enthusiasts. To put everything in perspective, Binance has also been clean about its backing of the newly-launched cryptocurrency, which has been rather popular.