I actually think the current PONS price isn’t the most direct result of things like the price action being comparable to some well-known market makers, or too many retail traders being on board and the trade being too heavy. The biggest problem is actually with PONS itself: if the protocol revenue could reach 3 million USD per day, and then PONS could use 2.4 million USD to buy back, that kind of buy-side volume would be hard for even heavenly market makers and retail traders to suppress. But the reality is that current revenue is only around 300–400 thousand USD per day. PONS isn’t a small coin with a market cap of just a few tens of millions either—it’s an asset with a market cap of about 500 million. This revenue scale is indeed decent for a crypto project, but the sustainability of crypto projects themselves is already questionable. Relying solely on existing cash flow, it’s difficult to support a higher valuation later on. The same applies on the product side: with the current “launch pad” setup, PONS, to put it simply, still doesn’t have true innovation of its own. Whether it’s coin-stock pairing or Meme launch pads, none of it is original. What the market is willing to pay a premium for is scarcity and innovation—not another copy of a Pump version.

Of course, there are also good news: today, PONS has already updated its pairing with its own ecosystem token. If later it can also work with Index to build the decentralized token EFT, and put together various decentralized ETF combinations—like pairing a basket of DeFi tokens with a DeFi mascot—then it can generate new narratives. In addition, the V3 version that PONS and Uni will jointly develop will implement asymmetric liquidity management based on Uniswap V4 Hooks, to solve the current issue of liquidity problems after the launch pad.

As the RH chain grows rapidly, everything will get better—whether it’s revenue or price! $PONS
#越南拟2026年发首批加密牌照