PONS rebounds 12%, market cap remains 30% below all-time high

The token PONS, native to the Robinhood Chain launchpad Pons, rose 11.8% over 24 hours to reach $0.6586 on September 17. Based on a total supply of 1 billion tokens, its market cap is approximately $659 million, which is 32.2% lower than its peak of $971 million on September 6. CoinGecko reports a circulating market cap of $453 million, accounting for 313 million tokens held in a burn address. Platform fee revenue has also declined to roughly half of its early September peak, impacting the protocol's token buyback capacity.