A wallet linked to Cumberland has bought a further 2.7 million PONS tokens for about $1.55m, taking its total holdings in Robinhood Chain’s leading token launchpad to 11.2 million PONS, worth approximately $6.76m.
Cumberland is the cryptocurrency trading arm of Chicago-based DRW and one of the industry’s longest-established market makers. Its purchases have been made steadily over a full week rather than through a single transaction, with about 8.5 million PONS, valued at $6.55m, withdrawn from the crypto exchange Gate during that period.
The buying has coincided with interest from another major market maker, Wintermute, which has also accumulated a significant amount of PONS. Blockchain analytics company Arkham has suggested that Wintermute could be providing market-making services for the token.
Pons allows users to create tradable tokens within minutes for fees of about one dollar. The platform operates on Robinhood Chain, an Ethereum layer-two network built on Arbitrum, and has become a centre for some of the cryptocurrency market’s sharpest meme-token price movements.
On Sept. 2, almost 25,000 tokens were launched through Pons. Daily trading volume reached $544m, while protocol fees surged to $5.95 over a 24-hour period. That placed Pons fourth among all protocols, behind Tether, Uniswap and Circle, and ahead of Pump, Hyperliquid and Robinhood Chain.
Since July, approximately 646,000 tokens have been created on Pons by more than 167,000 unique addresses, according to figures accurate as of Sept. 3.
Fees generated by the PONS token are collected in WETH and used to buy back and burn tokens. About 293 million PONS – around 29% of its original supply – have already been removed through that process.
PONS was trading near $0.58, giving it a market capitalisation of about $440m. It was down 7.5% on the day and approximately 35% below its record high of $0.971, reached late last week.
Despite that short-term fall, the token had gained 1,384% over the previous 30 days. Such rapid rises can lead to swift repricing, particularly in the launchpad sector, where activity can disappear as quickly as it emerges.
Pons’ revenue depends directly on the number of users creating memecoins each week. One wallet recently turned roughly $220,000 into more than $4.7m after successfully trading CASHCAT and PONS in the same run, an outcome that can attract further speculative interest but may also be followed by sudden declines.
The next key test will be whether Cumberland’s daily buying continues if wider appetite for risk weakens. The cryptocurrency market absorbed $562m in liquidations yesterday, and speculative small-cap tokens often react to such pressure before bitcoin.
