Binance has resolved a data discrepancy affecting the PENGU token listing and announced a 135 million token airdrop to compensate affected users. Following its listing, PENGU saw a staggering 500% price surge, capturing significant attention in the market.
Data Error and Immediate Response
During the listing process of Pudgy Penguins (PENGU), a data inconsistency originating from CoinMarketCap led to mismatched market cap and fully diluted valuation data. Recognizing the issue, Binance acted promptly by coordinating with CoinMarketCap to correct the incomplete data and ensure accurate reporting.
To address the impact on users, Binance committed to an airdrop for those who purchased PENGU between 17:00 and 17:37 Turkey time on December 17. The token distribution will be proportional to the amount of PENGU acquired during this timeframe.
PENGU Token’s Market Performance
PENGU’s listing on Binance triggered a 500% price increase within its first 24 hours, reflecting strong market enthusiasm. The token reached an all-time high of $0.05 before stabilizing at $0.029 at the time of writing. This rapid growth highlights the Pudgy Penguins project as a rising force in the crypto space, drawing significant investor interest.
Binance’s Commitment to Reliability
This incident underscores the critical role of reliable data providers in the crypto ecosystem. Binance’s swift response not only mitigated user inconvenience but also reinforced trust in the platform. By compensating affected users and ensuring accurate data, Binance demonstrated its dedication to maintaining a seamless and dependable trading experience.
Investor Confidence and PENGU’s Potential
The overwhelming demand for PENGU tokens signals strong confidence in the project’s growth trajectory. The proactive measures taken by Binance further solidify its reputation as a trusted exchange within the crypto community.
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