Why Did PONS Surge Nearly 17%... Effect of 1.1 Million Tokens Disappearing?

▲ (PONS)/출처: X

PONS, the non-custodial token launchpad of the Arbitrum-based Layer 2 Robinhood Chain, surged nearly 17% in a single day, significantly outperforming Bitcoin. This sharp increase is attributed to the permanent burning of over 1.1 million PONS tokens, which reduced the circulating supply, combined with high profits in the launchpad sector and the bullish trend of Bitcoin (BTC).

According to CoinMarketCap, a cryptocurrency market data aggregator, on September 15 (local time), PONS recorded a 16.90% increase over the past 24 hours, reaching $0.650. During the same period, Bitcoin rose 2.55% to surpass $78,000. The key factor behind PONS's strong performance, significantly outperforming the market, was identified as a reduction in supply due to large-scale token burning.

Over 1.1 million PONS, worth approximately $646,800, were permanently burned from addresses linked to Robinhood in the last 24 hours. This represents 0.11% of the total supply. Notably, with PONS's entire supply already in circulation, the reduction in sellable tokens through burning immediately led to increased scarcity, according to analysis. Whether the daily burn volume is maintained in the future has been presented as a key indicator to determine the sustainability of the supply reduction effect.

Ecosystem revenue also supported the upward trend. PONS recorded the highest revenue among launchpads in the last 24 hours, reaching $1.07 million, demonstrating ecosystem demand. Additionally, Bitcoin's breakthrough past $78,000 improved investor sentiment for risk assets, including altcoins, which also had a positive impact.

In the short term, whether PONS can maintain the $0.58 support level is crucial. If PONS holds this price range, there is a possibility it could retest $0.747, as suggested by market participants. Conversely, if it falls below $0.58, there is a risk of a correction to the next major support level at $0.512. Bitcoin's ability to maintain a stable trend above $78,000 is also considered a variable that will influence altcoin investor sentiment.

Ultimately, this surge is interpreted as a confluence of reduced supply due to large-scale token burning, high ecosystem revenue, and Bitcoin's bullish trend. Particularly, whether the daily burn volume can consistently exceed $500,000 has been presented as a key observation point to confirm the current supply reduction effect and upward momentum.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*