Ethereum blue-chip NFT project "Pudgy Penguins" opened the $PENGU airdrop claim last night. A single Pudgy Penguin can claim tokens worth over $80,000, 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, worth over ten million dollars. (Background: Pudgy Penguins NFT floor price hits new high! Starting at $122,000, the community is shouting for airdrop claims of at least $30,000) (Context: Exaggerated! Pudgy Toys were stolen in New York due to the ability to receive $PENGU airdrops, where many Pudgy Penguin toy QR codes were taken) Famous for its cute penguin image, the top Ethereum blue-chip NFT project "Pudgy Penguins" opened the $PENGU airdrop claim last night (17th). Holders of Pudgy Penguins (total of 8,888), Lil’ Pudgys (little penguins, total of 22,000), Pudgy Rods, or related toys are all eligible to claim. Moreover, the project team praised for its vision has included OG wallets from Solana and Ethereum in the airdrop scope, with many users posting in the community to thank the official for the pork knuckle rice they received. Additionally, according to tokenomics, the initial circulation of $PENGU accounts for 70.22% of the total supply (8.888 billion), while the proportion allocated to the team is 29.78%. According to the token unlocking plan, all remaining tokens will be fully circulated at TGE (Token Generation Event) aside from the team allocation. $PENGU on-chain trading volume exceeded $1 billion within half a day. Such a large-scale airdrop event triggered the market immediately after the launch of $PENGU. SolanaFloor pointed out that the on-chain trading volume of $PENGU surpassed $1 billion in less than 12 hours, exceeding the total trading volume of all centralized exchanges, including Binance. More than 50% of the on-chain trading volume is concentrated on Raydium. According to CoinGecko data, after the launch of $PENGU, the price once soared to $0.06845 but continued to decline, currently reported at about $0.02701. Although the decline reached 60.5%, the trading volume in the past 24 hours exceeded $2 billion, and the total market capitalization still reached $1.716 billion, ranking it as the 84th largest cryptocurrency by market cap, indicating a hot trading and market activity. At the time of last night's launch, the market value of $PENGU once reached as high as $3.2 billion, surpassing $TIA, $INJ, and $WIF, and was only $200 million short of $ENA, which is quite astonishing. 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 Hair" is well-deserved. According to netizen feedback, a big penguin can obtain 1,700,170 $PENGU, while a little penguin can obtain 207,256 $PENGU. Below is a comparison of the value of airdropped tokens and the floor price before the airdrop: Big Penguin: The floor price before the airdrop once soared to 36 ETH (about $140,000) The value of airdropped tokens calculated at $0.05 is about $85,000 The return rate is about 60% Little Penguin: The floor price before the airdrop once reached 4.5 ETH (about $17,550) The value of airdropped tokens calculated at $0.05 is about $10,326.8 The return rate is 59% Additionally, OG wallets from Solana and Ethereum may also receive airdrops. Dynamic Zone's test shows that they can claim between 1,400 to 3,500 $PENGU, valued at around $70 to $175. (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 allegedly sold over ten million $PENGU. However, on-chain analyst Ai Yi detected that the address HoTdB…YL8YZ received 888 million $PENGU from the token deployment address before the airdrop claim, speculating that it might be an early investor or project-associated address. This address has gradually sold off after the market opened, having sold 261 million $PENGU, worth over ten million dollars. It currently still holds 627 million $PENGU, valued at about $19.29 million. Related Reports: OpenSea trading volume hits a two-year low! Major blue-chip NFTs continue to be sluggish, only "Pudgy Penguins" rises against the trend. Pudgy Penguins founder publicly shares the hardships of entrepreneurship: from dropping out to building a top NFT brand. BAYC Bored Apes fall! NFT floor prices have been overtaken by "Pudgy Penguins"; Yuga Labs founder: there is now a respectable competitor. "$PENGU Airdrop Frenzy: A single Pudgy Penguin NFT can claim over $80,000; OG wallets from Solana and Ethereum can also claim" was first published on Dynamic Zone BlockTempo (Dynamic Zone is the most influential blockchain news media).