Based on data from LookOnChain, South Korean investors are showing significant interest in the PENGU token, while significant operations with ETH are taking place.
Accumulation of PENGU Tokens
In the past week, three wallets linked to Bithumb and Upbit exchanges have accumulated 945 million PENGU tokens, roughly equivalent to $32 million. The overall balance across these wallets has reached 2.92 billion tokens, approximately $96.73 million, or 3.8% of the total circulating supply.
Withdrawal by Fenbushi Capital
Recently, the address ‘0x0277’, believed to be linked with Chinese investment giant Fenbushi Capital, withdrew 4,000 ETH, which is about $12.93 million, from the Binance exchange.
ETH Sales and Liquidation Risk
Trend Research reported selling 69,946 ETH (approximately $218.3 million) in the last 24 hours. Despite these sales, the firm still holds 115,187 ETH (about $376.35 million). Additionally, a high-risk position is attracting attention in the crypto derivatives market: a whale with the address ‘0x9626’, who took a short position on Ethereum with 25x leverage, is close to liquidation, holding a short position worth $12,500 ETH (approximately $40.7 million).
The information regarding the notable interest in the PENGU token among South Korean investors and significant transactions with Ethereum highlights market activity and capital migration.
