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.

Robinhood’s broader business is still expanding, yet its crypto segment has lost momentum. In the second quarter of 2026, Robinhood posted record quarterly revenue of $1.31 billion, up 32% year over year, while crypto revenue fell 38% to $100 million and accounted for just 8% of total revenue. Retail crypto trading volume on the Robinhood app dropped 36% to $18.2 billion, and crypto assets under custody slipped to 7% of total custody assets, the lowest quarterly share on record. Against that backdrop, Robinhood launched Robinhood Chain on July 1, 2026, and the network opened with one of the strongest Layer 2 debuts in recent years. The chain generated $3.6 million in real economic value, or REV, in July alone, taking 38% of all L2 chain revenue tracked by growthepie and outpacing Polygon and Base. But the report argues that the early activity was driven mostly by meme coins, not tokenized real-world assets. Meme coins made up 51% of July spot volume, while RWA accounted for 5%, and 48% of RWA volume came from pools pairing RWA with meme tokens. Blockworks Research says the bigger monetization opportunity may sit above the infrastructure layer. USDG is estimated to be capable of generating about $10.5 million in annualized interest income at current scale, while Morpho’s integration points to the commercial value of direct distribution through the main Robinhood app. By contrast, Lighter’s deployment through Robinhood Wallet contributed only 0.2% of Lighter’s total perpetuals trading volume. For now, the report concludes that Robinhood Chain is not yet large enough to move Robinhood’s overall financials in a meaningful way.

ChainFeeds’ Aug. 11 research roundup brought together five separate market and policy discussions that are shaping current crypto debate. The package led with the fallout from Bitcoin’s BIP-110, where nodes enforcing the proposal began rejecting blocks without bit 4 signaling even though support in the prior 2,016-block window was only 51 blocks, or 2.53%. The result was a chain split, with the higher-work main chain moving ahead while the BIP-110 branch lagged. The report also reviewed the competitive battle between Pump and FOMO over the social trading interface, arguing that the real contest is not token issuance alone but control over discovery, amplification, distribution, and execution. A separate Bitcoin market note focused on ETF flows, hash rate, node distribution, MVRV, the 200-week moving average, and three portfolio approaches ranging from dollar-cost averaging to options hedging. On Ethereum, ChainFeeds highlighted a debate around EIP-8363 and whether staking rewards should eventually rely only on execution-layer revenue once network staking surpasses 50%. The final section examined Robinhood Chain, which generated $3.6 million in REV in July and out-earned several established Layer 2 networks, though early activity was dominated by meme coin trading rather than RWA usage.