Arkham attributed a 3.43 million PONS position worth approximately $2.4 million to Wintermute, a major crypto market maker. The position represents about 0.48% of PONS’ 712.1 million circulating supply and 0.34% of the original 1 billion supply. Wintermute appears to have been buying PONS gradually through a time-weighted strategy before holding just over $3 million of the token. Arkham questioned whether Wintermute was preparing to begin market-making PONS onchain for the Robinhood Chain launchpad token, though this remains unconfirmed. Uniswap Labs has also purchased PONS for what the project described as long-term alignment.
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