PONS— the cheapest across the entire market: opportunity or trap?
According to the latest data from $PONS :
24-hour revenue: $276k
Revenue multiple: 4.37
24-hour change: +13.1%
Compared with peers:
PUMP: 4.75
AERO: 5.42
RAY: 6.78
LDO: 9.16
UNI: 40.9
AAVE: 42.8
HYPE: 43.4
4.37 is still the lowest across the board. PONS’s valuation multiple is only one-tenth of AAVE’s.
But this time, there’s a signal: look at the small text in the red box: 24-hour revenue +13.1%.
Revenue is rebounding—even though the absolute value is only 276k, at least the direction is upward.
Now look at another set of data:
In the last ten minutes, only one new coin was launched on the domestic market.
In the last hour on the overseas market, only two coins were launched.
Yesterday’s coin launch volume was 7,338—less than one-sixth of the peak period.
So right now, PONS’s low multiple doesn’t necessarily mean it will rise. The market is pricing PONS at a low valuation because of the risk that its revenue may not be sustainable. The key is whether the launch activity can come back. A rebound in revenue is a good sign, but if there isn’t continued growth, revenue is hard to sustain.
In one sentence: “Cheap” is the top-end price for the risk to revenue sustainability. Next, we’ll see whether the launch side can become active again.
According to the latest data from $PONS :
24-hour revenue: $276k
Revenue multiple: 4.37
24-hour change: +13.1%
Compared with peers:
PUMP: 4.75
AERO: 5.42
RAY: 6.78
LDO: 9.16
UNI: 40.9
AAVE: 42.8
HYPE: 43.4
4.37 is still the lowest across the board. PONS’s valuation multiple is only one-tenth of AAVE’s.
But this time, there’s a signal: look at the small text in the red box: 24-hour revenue +13.1%.
Revenue is rebounding—even though the absolute value is only 276k, at least the direction is upward.
Now look at another set of data:
In the last ten minutes, only one new coin was launched on the domestic market.
In the last hour on the overseas market, only two coins were launched.
Yesterday’s coin launch volume was 7,338—less than one-sixth of the peak period.
So right now, PONS’s low multiple doesn’t necessarily mean it will rise. The market is pricing PONS at a low valuation because of the risk that its revenue may not be sustainable. The key is whether the launch activity can come back. A rebound in revenue is a good sign, but if there isn’t continued growth, revenue is hard to sustain.
In one sentence: “Cheap” is the top-end price for the risk to revenue sustainability. Next, we’ll see whether the launch side can become active again.
