PONS, one of the most talked-about altcoins on Robinhood Chain, which launched in July, continues to attract attention in the cryptocurrency market.
While many investors continue to add PNS to their portfolios, the latest move comes from Uniswap Labs, the developer of the decentralized exchange Uniswap.
The PONS team announced via X that Uniswap Labs has purchased PONS tokens. The project stated that this move aims to deepen the partnership between the two parties and strengthen long-term alignment.
“By deepening our partnership with Uniswap, Uniswap Labs acquired PONS for long-term alignment.”
PONS Price Rises Following News!
Following news that Uniswap Labs had purchased PONS tokens, the price of PONS experienced a sharp increase. According to data reported by CoinDesk, PONS gained over 30% in value after the development, surpassing the $0.7 level.
However, no information was shared regarding the size of the acquisition made by Uniswap Labs.
The number of PONS tokens purchased, the price at which they were acquired, and the total transaction value were not disclosed. Furthermore, it remains unclear whether the tokens were purchased on the open market or allocated to Uniswap Labs by PONS.
As is known, PONS, although a launchpad project operating on Robinhood Chain, utilizes the Uniswap V4 infrastructure for token transactions. New tokens created on the platform can be moved to Uniswap V4 liquidity pools once they reach a certain market capitalization. This structure allows the PONS and Uniswap ecosystems to jointly generate revenue from the trading volume and liquidity of these tokens.
*This is not investment advice.
