A single-day 13% price rise in PENGU coincided with a wallet acquiring tokens from Wintermute and liquidating them for over $2.1 million in USDC.
PENGU experienced a 13% price increase after a wallet obtained 164 million tokens from Wintermute and immediately converted them into 2.166 million USDC. The sale valued each token at $0.0132 and involved a substantial transfer of assets from a prominent cryptocurrency market-maker.