Cryptocurrency experts name a little-known digital asset that has grown sharply by 50%

Editor’s note: not investment advice!

The Pudgy Penguins (PENGU) token, which is based on the Solana SOL $155.67 Binance-Peg SOL 4.85% Market capitalization $0.17 billion VOL. 24 hours $0.43 billion blockchain, has grown by 50% over the past week, adding more than $ 350 million to its market capitalization. While Bitcoin BTC $110,238.98 Bitcoin 2.41% Market capitalization $2.19 trillion VOL. 24 hours $2 billion and Ethereum ETH $2,601.41 Bridged Ether (StarkGate) 6.70% Market capitalization $79.81 million VOL. 24 hours $1.73 billion demonstrated stable dynamics without significant fluctuations, PENGU became the largest gainer among cryptocurrencies over the week. For comparison, Bitcoin Cash, the second fastest growing cryptocurrency, rose by only 6.8%.

The main driver of PENGU’s sharp growth was the application for the launch of an ETF — Canary PENGU ETF. This is a new type of investment product that provides for the storage of 80−95% of PENGU tokens and 5−15% of Pudgy Penguins NFTs in the fund. The request was submitted by Canary Capital, which also promotes ETFs for other crypto assets, including XRP XRP $2.29 XRP 4.68% Market capitalization $135.13 billion VOL. 24 hours $0.36 billion and Litecoin.

Thanks to this news, PENGU became the only meme coin that remained in the green zone over the past day, despite the general decline in interest in such assets. Analysts believe that it was the innovative approach to ETFs and the focus on the NFT segment that provoked the jump in the price of Pudgy Penguins.

The No Worries editorial team strongly advises readers not to invest their own funds in dubious crypto projects and little-known digital assets!