The listing increases PENGU’s credibility, reaching broader exposure through a regulated and widely-used platform.
The price of the PENGU token skyrocketed by around 10% in just a short time after it was officially listed on eToro. This move seems to be a new trigger that paves the way for Pudgy Penguins — the Web3 project behind the token — to reach more investors from various circles, including those who were previously more familiar with traditional markets.
For those who are not familiar with it, eToro is known as a global investment platform that is often used as an entry point for ordinary users to the world of crypto. No need to bother setting up a wallet, no need to worry about gas fees, just click and buy.
So as soon as PENGU appeared on the platform, its exposure immediately expanded. It is not surprising that in just a matter of hours, the price of this token has shown a fairly noticeable spike. And this is not the first time a crypto token has skyrocketed after being listed there.
On the other hand, a few days before the launch on eToro, CNF reported that Cboe had officially filed a 19b-4 form with the SEC to launch an ETF called Canary PENGU. The ETF will be the first to combine memecoins and NFTs in one traditional market instrument — if approved, it could be a unique bridge between the Web3 world and the more mainstream financial markets.
The project’s expansion doesn’t stop there, Pudgy Penguins is also continuing to build its interactive ecosystem. In late June, they launched a Telegram-based game called Pengu Clash. Within a week, the game had been played more than 170,000 times by more than 60,000 unique players.
That’s quite a surprising number, especially considering that this is just a casual game accessed via a chat app. But that’s where its strength lies — easy to access, quick to play, and perfect for those who are curious but not yet ready to dive too deep into the Web3 world.
Furthermore, their strategy also includes integration with real life. In mid-June, the Pudgy team announced that users can now earn Lufthansa miles every time they shop at the Pudgy Shop, using either fiat or PENGU tokens. So imagine, you buy cute merchandise, and get miles to fly. It’s arguably one of the most sensible ways a Web3 project has ever connected crypto to real-world benefits.
The successful listing on eToro is a strong signal that PENGU is not just a meme token that’s just buzzing around on X. It’s starting to play a bigger role — not just in terms of user expansion, but also integration with the financial system overseen by regulators. And if the PENGU Canary ETF is actually approved, it’s possible that this project will become an even bigger topic of conversation in various financial forums.
Read more on Crypto News Flash
