Main notes
- PenGU has seen an increased volatility after the ETF file, as daily trading sizes jumped by 45 % to more than $ 135 million.
- Analysts argue that the retail delicacy of the Penguin Penguin Road and PEDGY PENGUINS NFTS resulted in the sale of pressure.
- The code of 90 % of the highest level in December has fell ever, and has led to optimism about the potential ETF effect.
Hours after the Canary Capital Asset Manager requested the Pengu ETF on Thursday, the penguin price fell by 10 %, to $ 0.0062, from the highest level of $ 0.0075. This pump and discharge occurred for the penguin road, as many players participated in the teaching federation in ETF news.
PenGU trading activity increased after the ETF file, as daily sizes increased by 45 % to more than $ 135 million amid main price fluctuations.
Penguins (Penguin) Development ETF
On Thursday, March 20, Canary Capital presented Submission of a trading box for exchange (ETF) Pudgypenguin tracks the distinctive symbol of Pudgypenguin Pengu, along with the unique symbols that work on the Blockchain Penguins platform. This is the first ETF encryption file that also has NFT exposure.
The deposit determines that confidence will complicate the immediate penguin alongside PUDGY PENGUINS NFTS, with other digital assets such as Solana (SOL) and ETHEREUM (ETH) “as necessary or accidental” for transactions related to the fund's initial property.
This approach aims to improve the operational operations of the Canary, enable purchase and sale and transfer effective assets within the box.
It is known that Pudgy Penguins hosted one of the most popular NFT groups on the market. However, the market appears to have not absorbed the news positively because the penguin price has been subjected to strong sale pressure.
Why did the penguin decrease?
Pengu Etf's launch sparked a reaction to Pengu, although it was smaller in size compared to other ETF events. Analysts attribute this whipped response to the grandmother and the higher risk associated with NFTS and coins such as penguins.
Critics argue that there is no real retail request or there is no real retail request on penguins or Penguins NFTS, which raises questions about the interest of ETF and the importance of the market. This has led to more pressure on the penguin price.
This is not the first time that the deposit of the MIM ETF. Previously, introduce the best asset managers like Grayscale and BitWise to get ETF DOGECOIN.
Since its launch, PenGu has been listed on platforms like Robinhood. However, its price has struggled to maintain momentum, as more than 90 % of its highest level has now decreased in December.
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