Binance has resolved the data issues affecting the listing of Pudgy Penguins PENGU tokens, which led to inconsistencies in market data. The problem originated from CoinMarketCap's delayed updates of token information, affecting the token's market cap and fully diluted valuation.
However, the platform quickly addressed the issue and announced an airdrop of 135 million PENGU tokens to eligible users. This move aims to compensate users who faced challenges due to the issue.
Binance resolves PENGU token data issues through airdrop.
On December 18, Binance announced that it had resolved the data issues concerning the listing of Pudgy Penguins (PENGU) tokens on the exchange. The issue stemmed from the delay in updating key data points (such as market cap and fully diluted valuation) provided by CoinMarketCap. This led to discrepancies in the displayed information for Pudgy Penguins. The exchange quickly identified the problem and notified CoinMarketCap, which subsequently updated the data.
To address user inconvenience, Binance announced an airdrop of 135 million PENGU tokens to users who purchased Pudgy Penguins (PENGU) between 14:00 and 14:37 UTC on December 17. The airdrop will be allocated based on the number of PENGU tokens each eligible user purchased during the snapshot period. It emphasizes that blockchain transparency makes on-chain data the most reliable and uses third-party data for ease of use.
The swift action of this leading cryptocurrency exchange highlights its commitment to user satisfaction. By promptly addressing the issue, the exchange not only resolved the problem but also provided compensation to affected traders. The airdrop is a gesture of goodwill that strengthens the exchange's reputation as a responsive and customer-centric platform.
PENGU Token price surge and market context.
The price of PENGU tokens surged significantly after being listed on Binance, increasing in value by 500% within 24 hours. At the time of writing, the trading price of the token is $0.029. Its all-time high reached $0.05, reflecting strong investor interest and market enthusiasm following its listing. The rapid rise in PENGU's price underscores the growing interest in the Pudgy Penguins project. As more users discover the token, it may continue to rise.
In contrast, the price of Simon Cat (CAT) token, also listed on Binance, has decreased. The trading price of CAT tokens is $0.000043, falling 31% in the past 24 hours. Despite the drop, the token's market cap remains at $290 million, with a trading volume of $600 million.
PENGU price surge highlights the excitement of new listings. This price volatility potential has caught traders' attention. The performance of one token can influence the trend of the entire cryptocurrency market.
