Bitcoin and Crypto Surge: Pnut Attracts Over $1 Billion in Inflows
Bitcoin and Crypto Surge: Pnut Attracts Over $1 Billion in Inflows
Meme cryptocurrencies are witnessing increasing investor interest, and the newly created Peanut the Squirrel (PNUT) is standing out with significant momentum. PNUT was trading at $1.67 at press time, showing astonishing gains of over 240% in the past 24 hours. On the weekly chart, the token has rallied over 1,200%.
Market Capitalization and Inflows
The Solana (SOL)-based meme coin currently has a market capitalization of $1.69 billion, translating to an inflow of $1.25 billion in the last 24 hours. This momentum has seen PNUT break into the top 100 cryptocurrencies by market cap, ranking in the 58th spot.
Drivers of PNUT Popularity
- The surge in the price can be primarily attributed to its listing on major exchanges.
- Given the size of Binance and Bybit, the listing increased visibility and liquidity.
- Investors are partly driven by the fear of missing out.
PNUT's growth is notable, considering it was launched less than two weeks ago. Since then, investors who made strategic bets have seen significant returns. $PNUT has launched 13 days ago and now has a market cap of $1.7 billion, making it the 56th largest crypto.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.