On-chain analytics firm Lookonchain has detected a significant transaction involving Penguin Finance (PENGU). According to the report, a liquidity provider wallet transferred a staggering 300 million PENGU tokens (valued at approximately $13.25 million) to an exchange just an hour ago. This substantial deposit suggests that the liquidity provider is preparing for increased trading activity on the exchange. It is also possible that they are seeking to boost liquidity and reduce price volatility for PENGU. It's important to note that this is not the first time that large amounts of PENGU have been moved to exchanges. In the past, similar deposits have been observed, indicating that liquidity providers and traders are actively participating in the PENGU market. The latest development highlights the growing interest in Penguin Finance, a decentralized finance (DeFi) protocol that offers a range of financial services, including lending, borrowing, and yield farming.