Uniswap Buys PONS Token Amid Robinhood Chain Trading Frenzy

Uniswap Labs has bought PONS, the token tied to Robinhood Chain's launchpad. According to Uniswap, the purchase was made for long-term alignment between the two projects.

The price and size of the deal were not disclosed by either party.

Pons jumped 17.5% after the news broke, trading at $0.5013 and hitting an all-time high of $0.5242 earlier in the day.

PONS has a market value of around $357 million, placing it about 118th among all cryptocurrencies by size.