A crypto trader has transformed a $44,300 investment into $811,000 after backing Pons (PONS), one of the fastest-growing projects on the Robinhood Chain.
Wallet labeled 0x194 first made the investment when the token was valued at a $3.7 million market cap, acquiring just over 1% of its total supply, according to Arkham data.
Since then, PONS has emerged as the leading meme coin launchpad on the chain, reaching a record $57 million market cap before stabilizing around $51 million on July 27 and trading at $0.06 after a 21% daily rally.
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 overall holdings are worth more than $858,000, all of it in Robinhood projects. They currently hold around 12.65 million PONS tokens, while the remaining sum is spread across several minor assets, including Yolo (YOLO), Juggernaut (JGN), and Hoodrat (HOODRAT).
PONS leads Robinhood Chain growth
Primarily, the rally appears to have been fuelled by growing adoption of the Pons platform and anticipation surrounding its upcoming V2 upgrade, expected to introduce an Ethereum (ETH) bonding curve, integrate Uniswap V4, and support trading pairs featuring stablecoins and tokenised equities.
Moreover, the new features are expected to expand the platform’s token issuance capabilities by combining memecoins with real-world asset (RWA) infrastructure, which is especially notable considering that tokenized real-world assets on Robinhood have risen roughly fivefold in under two weeks.
As for PONS, roughly 20% of the total supply was burned within eight days of the platform’s launch. Now, the team plans to continue supporting the token’s deflationary model through revenue-funded buybacks and ongoing token burns.
Featured image via Shutterstock
