Bithumb, a leading cryptocurrency exchange in South Korea, has added the token Pudgy Penguins (PENGU) to its platform. Following the listing announcement, PENGU experienced a 20% increase in price, reflecting strong interest from the crypto community that positively impacted the token’s market performance.
Pudgy Penguins Begins Trading on Bithumb
On December 24, Bithumb announced the listing of Pudgy Penguins (PENGU) for trading on the KRW market. The exchange activated deposit and withdrawal transactions for the Solana 
$89-based token within two hours after the announcement, with trading commencing at 17:00 KST. The initial price of the token was set at 43.89 KRW, indicating rising market demand.
To ensure safe trading, the exchange halted buy orders for the first five minutes. Initially, sell orders were limited to a price range of -10% to +100%. Bithumb advised users to only use the Solana network and exchange-approved channels for deposits, as incorrect transactions could lead to delays or refund issues.
Growing Interest in Pudgy Penguins Token
The listing news triggered significant volatility in PENGU’s price, which reached $0.031, with a total market capitalization reported at $1.96 billion. Daily trading volume surged to $581 million, indicating increasing demand for PENGU.
Interest in PENGU also grew in derivative markets, with futures trading volume hitting $687 million and Open Interest valued at $115 million. Following its launch and airdrop process, the token gained over 700% in value, quickly rising in popularity within the crypto community.
The listing of Pudgy Penguins indicates the token’s potential for broader adoption in the South Korean market. Strong community support and market dynamics may help sustain the token’s current rally.
