A lucky cryptocurrency trader has reaped huge profits after investing early in the new native asset of the non-fungible token (NFT) project built on top of Solana (SOL).
Market analysis platform Arkham Intelligence reports that someone purchased $6 worth of PENGU, a new utility token from NFT project Pudgy Penguins, and added it to Solana-based decentralized exchange (DEX) Raydium (RAY) along with $1,100 worth of SOL. He said he did. .
Arkham explains.
“Several users targeting the launch of PENGU exchanged into his pool, purchasing tokens at very unfavorable prices. He made a profit of $87,000 in SOL and PENGU from this position.”
Binance listed PENGU for trading on Tuesday following the project’s airdrop on Monday. Already the 68th largest cryptocurrency asset by market capitalization, the token is trading at $0.0383 at the time of this writing and is up nearly 12% in the last 24 hours.
Pudgy Penguins announced plans to launch PENGU on the Solana network earlier this month.
“The millions of Pudgy Penguin fans who watch and share Pudgy Penguin every day through PENGU, and the hundreds of millions of people outside of cryptocurrency, finally have the opportunity to fit themselves into the character…
PENGU will have a total supply of 88,888,888,888 and will be launched on Solana.”
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