$PONS Why did it go up?
The fundamentals have barely changed over the past 24 hours: protocol fees were $330,000, protocol revenue was $50,000, buybacks and burns were 32.8%, and the actual market cap was $200 million.
There hasn't been a single buy on the external market in five hours. The internal-market data is indeed a little better than before, with more than 10 buys in the past hour. But these fundamentals are still too weak.
PONS is up purely because the top whale, Xiaohuangren, used Robinhood's revenue growth as a talking point to promote it, liquidating a bunch of shorts and turning them into buyers.
The fundamentals have barely changed over the past 24 hours: protocol fees were $330,000, protocol revenue was $50,000, buybacks and burns were 32.8%, and the actual market cap was $200 million.
There hasn't been a single buy on the external market in five hours. The internal-market data is indeed a little better than before, with more than 10 buys in the past hour. But these fundamentals are still too weak.
PONS is up purely because the top whale, Xiaohuangren, used Robinhood's revenue growth as a talking point to promote it, liquidating a bunch of shorts and turning them into buyers.
