“South Koreans are Starting to Show Great Interest in This Altcoin”

According to data from on-chain data platform LookOnChain, South Korea-based investors are showing great interest in the PENGU token.

Three wallets associated with Bithumb and Upbit exchanges have accumulated 945 million PENGU (approximately $32 million) in the past week alone. The total PENGU balance across these three wallets has reached 2.92 billion tokens (approximately $96.73 million), equivalent to 3.8% of the total circulating supply.

On the other hand, the address “0x0277,” which is thought to be linked to China-based cryptocurrency investment giant Fenbushi Capital, recently withdrew 4,000 ETH (approximately $12.93 million) from the Binance exchange.

On the institutional selling side, Trend Research announced that it sold 69,946 ETH (approximately $218.3 million) in the last 24 hours. Despite these sales, the firm still holds 115,187 ETH (approximately $376.35 million).

In the crypto derivatives markets, a high-risk position is attracting attention. A whale with the address “0x9626”, who took a short position on Ethereum with 25x leverage, is very close to liquidation. Although the investor has partially closed his position, he still holds a short position worth $12,500 ETH (approximately $40.7 million).

*This is not investment advice.