Pons Buybacks Fuel 13% Rally Amid Ongoing Bullish Sentiment

Pons [PONS] has seen a significant surge of 13% over the past day, driven by bullish sentiment and protocol-backed buying. The protocol generated $19.64 million in earnings so far in September and channeled $13.82 million into its buyback program.

This move absorbs tokens from the market, potentially tightening available supply and supporting prices when demand rises. Optimism surrounding crypto assets, particularly the Robinhood Chain, has also given PONS a boost.

In terms of protocol activity, fees have continued to rise, increasing from $2.49 million on September 16th to $2.95 million at press time.