$PONS From its September 5 peak to now, both the price and market cap have more than halved. Its peak market cap was $670 million. Since the peak, the price has fallen about 60%–61%, while the market cap has dropped from around $670 million to around $260 million—a drawdown of about 60%.
The narrative and fees both surged at the end of August, and it peaked in early September. Since then, fees have cooled off and the price has stepped down, never getting back above $0.6.
On-chain estimates now put protocol revenue at around $300,000 over 24 hours and about $1.2 million over 7 days, far below early September levels.
Personally, I’d only start buying the dip in portions when its market cap is around $100 million. It’s a token launch platform on Robinhood Chain that’s still charging fees, and the token directly benefits from fee buybacks.
The narrative and fees both surged at the end of August, and it peaked in early September. Since then, fees have cooled off and the price has stepped down, never getting back above $0.6.
On-chain estimates now put protocol revenue at around $300,000 over 24 hours and about $1.2 million over 7 days, far below early September levels.
Personally, I’d only start buying the dip in portions when its market cap is around $100 million. It’s a token launch platform on Robinhood Chain that’s still charging fees, and the token directly benefits from fee buybacks.
