Trader Bonk Guy said he remains bullish on PONS, arguing that the protocol is still deeply undervalued relative to its revenue. In a post cited by BlockBeats on Sept. 10, he said PONS had already generated $1.34 million in revenue for the day, with the day not yet over. He added that even as activity on the Robinhood chain has cooled in recent days, PONS is still running at roughly $202 million in annualized revenue against a market capitalization of about $434 million. Bonk Guy also pointed to a buyback wallet holding $3.7 million, saying the balance is still building quickly. According to him, those funds are used to buy PONS tokens on the market through TWAP orders, while new revenue is coming in faster than the wallet is spending. Based on those figures, he said a protocol generating more than $200 million in annualized revenue but valued at $434 million is being priced far below what it is worth. BlockBeats noted that PONS is currently the largest position in Bonk Guy’s portfolio, valued at $6.9837 million, with a return rate of 10,213.81%.
BlockBeats reported on Sept. 10 that trader Bonk Guy published a bullish view on PONS, calling it one of the most undervalued protocols in crypto.
He said the platform had already generated $1.34 million in revenue in a single day, even though the day was not yet over. Bonk Guy added that despite the Robinhood chain cooling off over the past few days, PONS was still running at about $202 million in annualized revenue with a market capitalization of roughly $434 million.
He also said the protocol’s buyback wallet still held $3.7 million and was continuing to build quickly. According to his post, those funds are used to purchase PONS tokens on the market through TWAP, or time-weighted average price, orders. He added that new revenue is arriving faster than the buyback wallet is spending its balance.
Based on that, Bonk Guy argued that a protocol with annualized revenue above $200 million but a market capitalization of only $434 million was, in his words, something worth tens of billions being sold for pennies. He said the market cannot keep ignoring PONS and that it remains one of the most undervalued protocols in crypto.
BlockBeats noted that PONS is currently the largest holding in Bonk Guy’s portfolio, valued at $6.9837 million, with a return rate of 10,213.81%.
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