Wintermute Takes Market-Making Reins of Newly Launched Penguin Coin ($PENGU)

Wintermute, a prominent market maker in the crypto space, has taken the reins as the liquidity provider for the newly launched Penguin coin ($PENGU).

Prominent market maker Wintermute has emerged as the liquidity provider for the recently launched Penguin coin ($PENGU), according to on-chain data. Over the past two days, Wintermute’s addresses have been highly active, holding a combined total of 18.7 million PENGUs, worth approximately $602,000.

Wintermute is known for its aggressive market-making strategies and has established a significant presence in the cryptocurrency space. The company often engages with new, trending, venture capital-backed, and meme coins. Its involvement with $PENGU signals growing institutional interest in the token, which is already gaining traction as a novel initiative by an NFT OG project during this market cycle.

$PENGU has posted impressive early metrics, with its fully diluted valuation (FDV) holding steady at around $2.8 billion. The token’s trading volume in the past 24 hours has reached a staggering $2.34 billion, with Binance accounting for nearly 22% of the activity—equivalent to $513 million in volume.

Wintermute’s two addresses are actively involved in moving liquidity around, with one address holding 10 million PENGUs and the other holding 8.7 million. These addresses are constantly sending and receiving tokens, ensuring that $PENGU remains liquid and accessible.

As $PENGU cements itself as a standout in the meme coin category, Wintermute’s active participation is likely contributing to the token’s liquidity and price stability. This collaboration showcases the market maker’s continued influence in supporting both emerging and high-potential assets within the crypto ecosystem.

With its origins tied to a recognized NFT project, $PENGU’s strong early performance highlights the convergence of NFTs and meme coins as a growing trend in the blockchain space. As trading volume and community interest continue to rise, the token’s trajectory will be closely watched by both retail and institutional investors alike.

Wintermute’s role in market-making ensures $PENGU remains liquid and accessible, further solidifying its position as one of the most talked-about meme coins of this cycle.

The post Market Maker Wintermute Holds Millions of $PENGU Tokens first appeared on NullTX.