Pons and Arbitrum: Altcoins Poised for Growth Despite Clarity Act Setback

The Clarity Act, a crypto market structure bill, failed to pass a procedural vote in the Senate on September 15. Despite this setback, two altcoins, Pons and Arbitrum, are poised for growth. Pons is a crypto launchpad app that runs on the Robinhood Chain, and it has seen significant success since its launch in mid-July. The app has generated over $186 million in transaction fees, with $20 million spent on buying back its own token and burning it. This has resulted in a rapidly constricting supply, making Pons a strong performer. Arbitrum, on the other hand, is benefiting from the success of the Robinhood Chain, which has led to a significant increase in its license fees. Arbitrum will now collect around $4.3 million from its 10% cut of the fees generated by the Robinhood Chain in August and September.