Uniswap Labs Buys Stake in PONS, Token Hits New All-Time High

Uniswap Labs has acquired a stake in PONS, a move that sent the token to a new all-time high of $0.75.

The partnership is part of a longer-term agreement between the two projects, which aims to deepen their collaboration and create 'long-term alignment.'

PONS' price surge can be attributed to rising activity on the platform, with more than 63% of Robinhood Chain launchpad volume passing through it in the past 24 hours.

The token has seen a remarkable run, increasing by over 1,700% in two weeks and 2,700% in one month. It touched a high of $0.75 earlier in the day before easing back to its current price of $0.71.