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UNI Uniswap Labs purchased PONS tokens, pushing it to a record high
Uniswap Labs purchased a certain amount of PONS tokens as part of a long-term partnership, which pushed the token price to a record high of $0.75. The acquisition comes as the Pons team announced that platform activity continues to rise, with data showing that in the past 24 hours, more than 63% of Robinhood Chain Launchpad transactions have been completed through the agreement.
Uniswap Labs confirms transaction details
Pons announced the acquisition on September 4 and said the transaction will deepen the partnership between the two parties and achieve "long-term alignment of interests" for the two projects. However, the relevant announcement did not disclose the specific number of PONS purchased by Uniswap Labs or the total value of the transaction. [TAG
Nevertheless, the market reacted quickly. As of press time, PONS was trading at $0.71, up 40.2 percent in the past 24 hours and more than 507 percent in the past week, according to CoinGecko data. Earlier in the day, PONS had hit a record high of $0.75 before retreating and is now about 4 per cent below its peak.
Trading volume also increased significantly, reaching $151.8 million in the past day, up 9% from the previous session. If you look at data over a longer period of time, the rise is even more alarming: in the past 14 days, PONS has increased by more than 1,769%, and the monthly increase has exceeded 2,713%. The strong performance began with a low low of $0.0033 in mid-July. In addition, the price of PONS-Bitcoin trading has also recently increased by nearly 25%.
Design logic for built-in deflation mechanism
Pons has adopted a deflation mechanism since its launch. The project party stated that so far, 29.34% of the total supply of PONS has been destroyed, and 80% of the agreement fee has been used to continuously repurchase and destroy more tokens.
In addition, the team is constantly adding tokenized stock trading pairs to the platform. In the past day alone, new stock trading pairs have been added to companies such as UPS, Snap, Lululemon, Figma, Moderna, Pfizer, Rivian, Marvell and Johnson & Johnson. Trading immediately became active. In a single 24-hour cycle, more than 63% of the trading volume on the Robinhood Chain launch board flowed through the Pons platform, and the overall trading volume that day reached US$400 million.
Industry background and market linkage
The same week that Uniswap purchased PONS shares, the price of its own token, UNI, also climbed. Previous reports pointed out that UNI has increased by a maximum of 32% in the past seven days and has continued to rise since then. As of press time, UNI was trading just below US$6.40, with a cumulative increase of more than 60% in the past 30 days.
