Wintermute Takes $2.4M Stance in PONS

Wintermute has accumulated a substantial position in PONS, a token from the Robinhood Chain launchpad. According to data firm Arkham, Wintermute now holds approximately 3.43 million tokens worth $2.4 million, representing about 0.48% of PONS' circulating supply.

The exact purpose behind this large holding is unclear, but it has sparked speculation that Wintermute may be preparing to begin market-making for PONS on-chain.

Arkham noted that Wintermute appeared to be buying PONS gradually through a time-weighted strategy and had previously held over $3 million of the token. However, the data firm emphasized that it did not confirm whether Wintermute had a market-making mandate for PONS.