Coinbase broke with its common blue emblem on X, posting a Pudgy Penguins non-fungible token as its profile image alongside the quip “new pfp, who dis.”
Minutes later, PENGU, the native token of the penguin-themed ecosystem, began surging. The token rose greater than 60% within the rally earlier than enduring a correction, but it surely’s nonetheless up greater than 35% for the week.
The official Pudgy Penguins account mirrored the transfer, sending matching ice-blue avatars gliding throughout feeds and main to speak of a partnership between Coinbase and Igloo Inc., the startup that steers the gathering. Numerous crypto-related companies, together with VanEck, MoonPay, and AwakenTax, have since modified their profile footage to pudgy penguins.
The stunt has additionally lifted the ground worth of Pudgy Penguin NFTs, which was earlier this week round 9 ETH, and rapidly jumped to 11.58 ETH in line with NFTPriceFloor information. The quantity for the venture’s NFTs grew almost 690% within the final 24 hours.
Coinbase modified its profile image throughout a brief account takeover from pseudonymous Crypto Twitter character AlexOnChain, who beforehand led the social media account of main cryptocurrency trade Binance for 4 years.
After the takeover, Coinbase revealed they’re hiring AlexOnChain as their first full-time “CT Lead.”
“The brand new focus is making comms extra social native – direct, clear, and fascinating. That is the trail to constructing an even bigger appreciation for every part they’ve contributed to this house (which is loads), and to assist reconnect with ct,” Alex mentioned in a submit. “It’s a giant job, it gained’t be simple, and that’s why I took it.”
PENGU’s worth rise additionally comes because the U.S. Securities and Change Fee (SEC) acknowledged Canary Capital’s submitting for a spot PENGU ETF.