The Pons launchpad, which is used to launch native tokens on Robinhood Chain, generated a record $5.95 million in fees over 24 hours, according to DeFiLlama. The total placed Pons fourth among all protocols by daily fees, ahead of Robinhood Chain itself as well as Hyperliquid and Fomo.

Pons said about $400 million in trading volume passed through the platform during the same period. That represented more than 63% of all launchpad trading volume on Robinhood Chain over those 24 hours.

PONS token rises

The platform’s native PONS token rose more than 360% in seven days as activity increased. Its price topped $0.50, while its market capitalization reached $500 million. A TradingView chart showed the PONS/USDT pair on the MEXC exchange.

Trader positions

Lookonchain highlighted several traders’ positions in PONS. One user transferred $54,000 to the Aster exchange and opened a four-times-leveraged long position in 447,135 PONS, worth about $226,000. At the time of publication, the position had an unrealized profit of about $8,600, or 15%.

Another trader using the pseudonym Ogle, whom Lookonchain linked to World Liberty Financial, turned an initial $4,997 into $5.4 million on PONS, according to the analysts. Ogle initially bought 10.607 million PONS when the project’s market capitalization was about $470,000. The cited address currently holds 10.9 million tokens valued at approximately $5.58 million.

Another trader failed to benefit from the token’s subsequent rise. A month ago, the trader spent 181 ETH, then worth $443,000, to buy 7.99 million PONS. After the price fell, the trader sold the entire position for 135,000 USDG, realizing a loss of about $308,000.

At the current price cited in the source, the 7.99 million PONS would be worth about $3.46 million. Had the trader retained the tokens, the position’s potential profit would have exceeded $3 million.

Source: Incrypted