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BTC 
ETH The price of Robinhood Chain's star token PONS soared to US$0.52, setting a record high after it was launched on Binance Alpha.
Against the backdrop of the overall market decline, PONS bucked the trend and rose 21.87% to US$0.52 in the past 24 hours, setting a new record high. The increase is in sharp contrast to the overall trend of the cryptocurrency market-the total market value has fallen more than 2% in the past 24 hours to US$2.26 trillion, and Bitcoin and Ethereum have also fallen.
PONS stepped out of the independent market. Its market value has risen to approximately US$362 million, ranking 118th in the token market value ranking.
Why did Binance Alpha launch push PONS up?
Binance Wallet announced on September 2 that it would add PONS and FLORK to Binance Alpha. Currently, PONS is only traded on Alpha 1.0, and users can use market orders and limit orders. The launch news quickly triggered violent fluctuations in the PONS price, and the token rushed to US$0.52 in a short period of time, setting a new high. Although there was a correction later, it was still trading around $0.50. However, PONS's recent rise is not just driven by the launch of Binance Alpha.
Hyperliquid announced that it will provide perpetual contract support for PONS, further increasing market interest in the token. It is worth noting that this rise occurred at a time when the overall market was weakening simultaneously, so PONS's rise was not solely driven by the broader market.
The new token FLORK, also launched on Binance Alpha, saw a similar sharp rise. According to Wu Blockchain data, FLORK's increase was about 293% after its launch, and its market value once hit US$17.5 million.
How active is PONS trading on Robinhood Chain?
It is obviously not enough to attribute the price increase solely to Binance's launch. PONS is already very active in chain trading activities on Robinhood Chain. According to Dune data, the token completed 95,969 transactions in the past 24 hours, involving 8,014 different wallets, with a total daily transaction value of US$64.94 million. This trading volume makes PONS one of the top three most actively traded assets on Robinhood Chain.
Longer-term data also reflects market heat. PONS has accumulated trading volume of USD 702.12 million to date, accumulated transactions of more than 2.1 million, and the number of independent investors exceeds 66,422. The launchpad platform behind PONS has previously exceeded $4.54 billion in total trading volume on Robinhood Chain.
Can PONS stand above $0.52? [TAG
PONS is currently trading about 3% below its all-time high. Therefore, whether the initial demand triggered by the launch of Binance Alpha can be sustained will be the key to determining the short-term trend of the token. At this time, we must not only pay attention to prices, but also closely track trading volume. If the attention generated by Binance Alpha continues to drive high trading activity, PONS is expected to test higher prices again.
However, if the speculative demand caused by online launches recedes quickly, some of the recent gains may be reversed. In the subsequent trend of PONS, the high of US$0.52 is important, but whether trading volume near this level can be maintained is equally crucial.
The content of this article is based on public market data and does not constitute investment advice. It is recommended that you study and judge yourself.
