Trader Bonk Guy said on Sept. 29 that market sentiment around PONS may have fallen to a long-term low, arguing that the project looks inexpensive when set against PUMP on a revenue-multiple basis. In his comparison, PUMP was valued at about $2.7 billion after rising 17% on the day, with annualized revenue of roughly $463.6 million, implying a revenue multiple of about 5.82x. PONS, by contrast, was described as having annualized revenue of around $156.8 million and a market capitalization near $375 million, or about 2.39x annualized revenue. Bonk Guy framed the two as leading launchpads on different chains: PUMP in the Solana ecosystem and PONS on Robinhood Chain. He added that if Robinhood Chain can maintain a certain level of ecosystem activity going forward, the gap between PONS’s current valuation and its revenue scale may be worth watching.
BlockBeats reported on Sept. 29 that trader Bonk Guy said sentiment toward PONS may have dropped to a long-term low.
In a comparison with a similar project, he said PUMP currently has a market capitalization of about $2.7 billion and was up 17% on the day. Based on annualized revenue, PUMP generates roughly $463.6 million, which puts it at about 5.82x annualized revenue.
For PONS, he cited annualized revenue of about $156.8 million and a market capitalization of around $375 million, translating to roughly 2.39x annualized revenue.
Bonk Guy also described PUMP as the dominant launchpad in the Solana ecosystem, while calling PONS the dominant launchpad on Robinhood Chain. He said that if Robinhood Chain can maintain a certain level of ecosystem activity in the future, the gap between PONS’s current valuation and its revenue scale could merit continued attention.
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