Uniswap Stake Sends PONS Token Soaring to Record High

PONS, the token powering a crypto launchpad on Robinhood Chain, reached an all-time high of $0.75 after Uniswap Labs disclosed it had purchased a stake in the project.

The token jumped more than 40% intraday and extended its two-week gain to over 1,769%, according to CoinGecko data.

PONS' market capitalization reached approximately $357.1 million, placing it near the 118th spot among all cryptocurrencies by size.

The token's trading volume picked up, with roughly $151.8 million worth of PONS changing hands over the previous day, a 9% increase from the prior period.

Pons has also been expanding its offerings of tokenized stock trading pairs, adding assets linked to companies including UPS, Snap, Lululemon, Figma, Moderna, Pfizer, Rivian, Marvell, and Johnson & Johnson in the past day alone.