A cryptocurrency trader turned a $44,300 investment into $811,000 after backing Pons (PONS), one of the fastest growing projects in the world. Robin Hood series.
The wallet marked 0x194 made its first investment when the token reached a market cap of $3.7 million, accounting for just over 1% of the total supply, according to Arkham Data.
Since then, PONS has emerged as the leading on-chain cryptocurrency launcher, reaching a record market cap of $57 million before stabilizing at around $51 million on July 27 and trading at $0.06 after a 21% daily rise.
As a result, the initial investment made by 0x194 is now worth approximately $811,000, representing an 18.3x return on the original investment.
The trader’s total holdings are worth more than $858,000, all in Robinhood projects. They currently hold around 12.65 million PONS tokens, while the remaining amount is spread across several secondary assets, including Yolo (YOLO), Juggernaut (JGN), and Hoodrat (HOODRAT).
PONS is driving the growth of the Robinhood chain
Primarily, the rally appears to have been driven by growing adoption of the Pons platform and anticipation surrounding the upcoming V2 upgrade, which is expected to bring Ethereum (Ethereum) Curve correlation, Uniswap V4 integration, and premium trading pairs support stablecoins And symbolic shares.
Furthermore, the new features are expected to expand the platform’s token issuance capabilities by combining memecoins with real assets (Roy) infrastructure, which is especially notable considering that real-world token assets on Robinhood have risen nearly five-fold in less than two weeks.
As for PONS, approximately 20% of the total supply was burned within eight days of the platform’s launch. Now, the team plans to continue supporting the deflationary model of the coin through revenue-funded buybacks and ongoing token burning.
Featured image via Shutterstock
