Blockworks Research researcher AJC said PONS ranked No. 13 in crypto market revenue over the past 30 days, yet its FDV-to-revenue multiple stood at just 0.7x, the lowest among the top 15 revenue-generating tokens. The comparison he shared showed CARDS at about 2.8x, PUMP at 7.7x, CAKE at 9.6x, AAVE at 45.2x, HYPE at 168.5x, and LINK at 212.2x. Based on those figures, AJC argued that PONS is trading at a valuation that is notably lower than other high-revenue protocols relative to its revenue base. The comment was published in an Odaily newsflash citing AJC’s post and focused on relative valuation rather than token price moves or broader market direction.
Odaily reported that Blockworks Research researcher AJC said PONS ranked 13th in crypto market revenue over the past 30 days, while its FDV/Revenue multiple was only 0.7x, the lowest among the top 15 tokens by revenue.
For comparison, AJC listed FDV/Revenue multiples of about 2.8x for CARDS, 7.7x for PUMP, 9.6x for CAKE, 45.2x for AAVE, 168.5x for HYPE, and 212.2x for LINK.
Based on that comparison, he said PONS appears significantly lower valued relative to its revenue level than other high-revenue protocols.
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