The Ethereum blue-chip NFT project "Pudgy Penguins" opened the $PENGU airdrop claim last night, allowing holders of a Pudgy Penguin to claim tokens worth over $80,000, which has been praised by the community for its vision. However, on-chain monitoring shows that an address suspected to be associated with the team has sold 261 million $PENGU tokens, worth over ten million dollars. (Background: Pudgy Penguins NFT floor price hits a new high! A Pudgy Penguin starts at 122,000 USD, the community is calling for at least 30,000 USD in airdrop) (Additional context: Incredible! Pudgy Toys were stolen in New York due to the ability to obtain $PENGU airdrops.) Known for its cute penguin image, the Ethereum top blue-chip NFT project "Pudgy Penguins" opened claims for the $PENGU airdrop last night (the 17th). Holders of Pudgy Penguins (total: 8,888), Lil’ Pudgys (small penguins, total: 22,000), Pudgy Rods, or related toys are all eligible for the claim. Additionally, the project team has been praised by the community for its vision, as OG wallets from Solana and Ethereum were also included in the airdrop range. Many users expressed their gratitude in the community for the official distribution of pig trotter rice. Furthermore, according to tokenomics, the initial circulation of $PENGU accounts for 70.22% of the total supply (8.888 billion tokens), while the team allocation is 29.78%. According to the token unlocking plan, all tokens other than those allocated to the team will be fully circulated at the TGE. $PENGU's on-chain trading volume broke through 1 billion USD in half a day. Such a large-scale airdrop event stimulated the market immediately after the launch of $PENGU. SolanaFloor pointed out that the on-chain trading volume of $PENGU surpassed 1 billion USD in less than 12 hours, exceeding the total trading volume of all centralized exchanges, including Binance. Over 50% of the on-chain trading volume was concentrated on Raydium. According to CoinGecko data, the price of $PENGU reached as high as 0.06845 USD after launch, but continued to decline, currently reported at about 0.02701 USD. Although the drop reached 60.5%, the trading volume in the past 24 hours exceeded 2 billion USD, with a total market capitalization still reaching 1.716 billion USD, ranking it as the 84th largest cryptocurrency by market cap, indicating a hot trading and market. At the launch last night, the market capitalization of $PENGU once reached 3.2 billion USD, surpassing $TIA, $INJ, and $WIF, and was only 200 million USD short of $ENA, which is quite remarkable. JUST IN: On-chain trading volume for $PENGU by @pudgypenguins surpassed $1B in less than 12 hours, outpacing the combined volume of all centralized exchanges, including Binance. Raydium leads with over 50% share of the on-chain volume. pic.twitter.com/nMV31hhwgP — SolanaFloor (@SolanaFloor) December 17, 2024 The title of "Big Guy" is well-deserved. According to feedback from netizens, a big penguin can receive 1,700,170 $PENGU, while a small penguin can receive 207,256 $PENGU. Below is the comparison of the airdrop token value and the floor price before the airdrop: Big Penguin: The floor price before the airdrop once soared to 36 ETH (about 140,000 USD). The value of the airdrop tokens is calculated at $0.05, worth about 85,000 USD, with a return rate of about 60%. Small Penguin: The floor price before the airdrop once reached 4.5 ETH (about 17,550 USD). The value of the airdrop tokens is calculated at $0.05, worth about 10,326.8 USD, with a return rate of 59%. Additionally, OG wallets from Solana and Ethereum may also receive airdrops. Testing shows that they could claim between 1,400 and 3,500 $PENGU, valued at approximately 70 to 175 USD. (Note: Due to the large scale of this airdrop, the claiming page may experience lag, requiring multiple attempts to successfully claim.) This news has led many netizens to share the good news in the community, comparing it to the airdrop of Hyperliquid. Each @pudgypenguins got airdropped USD $85,000 worth of $PENGU. pic.twitter.com/AgEuE70Gob — Xeer (@Xeer) December 17, 2024 The team is suspected of selling over ten million USD of $PENGU. However, on-chain analyst Ai Yi detected that the address HoTdB…YL8YZ had received 888 million $PENGU from the token deployment address before the airdrop claim, suggesting it could be an early investor or project team address. This address has been selling steadily after the market opened and has currently sold 261 million $PENGU, worth over ten million USD. It still holds 627 million $PENGU, valued at approximately 19.29 million USD. Related reports: OpenSea trading volume hits a two-year low! Major blue-chip NFTs continue to struggle, only "Pudgy Penguins" rises against the trend. Pudgy Penguins founder publicly shares the blood, sweat, and tears of entrepreneurship: from dropping out of school to building a top NFT brand. BAYC Bored Apes fall! NFT floor price overtaken by "Pudgy Penguins," Yuga Labs founder: There is now a respectable competitor. "$PENGU Airdrop Carnival: A Pudgy Penguin NFT can claim over 80,000 USD, Solana and Ethereum OG wallets can also claim" this article was first published on BlockTempo (the most influential blockchain news media).

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