Uniswap Labs Invests in Pons Amid Token's 1700% Price Surge
Uniswap Labs has taken an undisclosed stake in Pons (PONS) as part of a long-term partnership, driving the token to a new all-time high of $0.75. This move comes after several weeks of strong performance for PONS, which has seen its price surge over 1,700% since mid-July.
The token's rally is attributed to its deflationary tokenomics and surging volumes on Robinhood Chain's launchpad, where it has captured a significant share of activity. In fact, Pons handled more than 63% of launchpad volume in the last 24 hours, with total launchpad volume reaching $400 million.
Uniswap Labs' stake in PONS is not disclosed, but the partnership is seen as a positive development for both parties. The move has pushed UNI, Uniswap's native token, to trade just below $6.40, up over 60% in the past 30 days.