Trader turns $2,600 into $1.2 million on PONS as Robinhood Chain fees spike

The Pons launchpad on Robinhood Chain is minting fresh blockchain millionaires, as an Arkham-monitored wallet has turned a $2,600 July investment on the launchpad’s token into more than $1.2 million in paper profits as of this September report.

The epic ROI reported by the blockchain-tracking firm highlights a new cohort of winners from the speculative frenzy around Robinhood Chain since its hot summer launch.

How a trader turned $2,600 in PONS into $1.2 million

The trader that Arkham identified as @heylittlechef on X bought in on PONS across four purchases on launch day, back when the token’s entire market cap was around $160,700.

As of this report, @heylittlechef has cashed in on $77,400 and is still sitting on a PONS position worth around $1.08 million.

Other traders have also taken big gains on PONS, including a wallet labeled 0x194 that turned $44,300 into around $811,000 in late July. That trader entered the trade at a $3.7 million market cap.

… Continue reading the full article at the original source below.