Why PNUT Surged: Speculations on New Listings and Whale Interest

by A1

3 days ago

The PNUT token showed a significant price increase over the past 24 hours. Here we explore the reasons behind this surge.

PNUT Price Surge

The PNUT token rose by 15.4%, reaching $0.7102. Its market capitalization exceeded $710 million, and daily trading volume increased by 190%, hovering over $596 million.

Whales and Their Actions

According to Spot On Chain, a whale withdrew 10 million PNUT tokens from Binance, worth approximately $6.1 million, transferring them to a decentralized wallet labeled '76yGJ', thus becoming the sixth-largest PNUT holder. The withdrawn amount marks 1% of the total supply of PNUT tokens.

Whale accumulation is often viewed as a bullish signal for an asset’s price.CITE_W_A

Listing Speculations

The biggest interest in the token was driven by rumors of its possible listing on major exchanges like Coinbase and Robinhood. Coinbase officially included PNUT in its listing roadmap but has yet to announce the exact trading start date.

Meme coins typically rally strongly following a listing on a major centralized exchange.CITE_W_A

Despite market volatility, PNUT shows steady growth driven by major investor interest and market speculation. Further listings are expected to continue boosting PNUT prices.

Other news

Genie AI: An Open Platform Transforming AI's Future

Genie AI is an open-source platform revolutionizing the build, deployment, and monitoring of AI agents.

17 minutes ago

Key Drivers of XRP's Price Surge and Future Predictions

XRP's price surge, key indicators, and its impact on the crypto market. Course changes and future forecasts.

17 minutes ago

Silencio Network: Record $112 Million in Allocation Requests, Exceeding Target by 220x

Silencio Network raised $112M in allocation requests, highlighting interest in DePIN and real-world blockchain solutions.

19 minutes ago

Analysis of Cardano, XRP, Ethereum, Polkadot and the Emergence of XYZVerse

Explore the role of Cardano, XRP, Ethereum, Polkadot, and XYZVerse in advancing blockchain technology.

19 minutes ago

Axelar (AXL) Price Prediction: Analysis for 2025, 2028, and 2030

Axelar is expected to see a price rise due to increased dApps and cross-chain solutions use. Predictions for 2025, 2028, and 2030.

20 minutes ago

Cardano (ADA) Gaining Momentum: New Rally Opportunities

Cardano (ADA) hit a two-year high, raising prospects of a fresh rally amid growing bullish sentiments.