Holders of FTX’s FTT might be allotted 0.35% of the brand new Pudgy Penguins token PENGU, in line with the NFT challenge’s distribution plan.
Pudgy Penguins introduced the launch of PENGU early on Friday. A complete of 88 billion tokens will distributed, with 17.8% allotted to the challenge’s workforce, 25.9% to NFT holders, and 12.35% to liquidity.
FTT holders will obtain a share of 308 million tokens. Because the announcement, FTT rose by 7.7% to $3.75 earlier than falling again to $3.39. Nonetheless, roughly 13 hours beforehand, it had climbed 40%.
@DarkCryptoLord believes FTT’s worth motion 13 hours earlier than PENGU’s launch is an indication of insider buying and selling.
Final November, FTX introduced that it expects to start out repaying clients and collectors in March with a particular date to be introduced this month. A complete of $16.5 billion might be distributed to victims of the FTX crash.
Most holders of FTT will doubtless have been victims of the FTX crash, nevertheless, regardless of a chapter decide deeming FTT nugatory, persons are nonetheless shopping for and buying and selling the token. Certainly, it has a 24-hour buying and selling quantity of just about $400 million.