Wintermute Accumulates Over $3 Million in PONS Tokens

Wintermute has accumulated a position in PONS exceeding $3 million, according to data from Arkham Intelligence. The firm increased its holdings from approximately $2 million to over $3 million through a series of trades on Uniswap.

The accumulation pattern indicates the use of a time-weighted average price strategy. This approach distributes purchases across specific time intervals to reduce the impact on the token's market price.

PONS functions as the governance and utility token for the Pons launchpad platform on Robinhood Chain. Since the chain launched on July 1, 2026, the platform has become a leader in trading volume and daily active addresses within the ecosystem.

The token's price moved from near $0.003 in mid-July to peaks exceeding $0.50 by early September, representing a 16,000% increase. The platform utilizes a revenue model that directs a portion of earnings toward token buybacks and burns.

Arkham Intelligence noted that Wintermute has not disclosed a market-making mandate for the asset. The absence of such a mandate suggests the firm is holding the tokens for its own proprietary book rather than acting on behalf of the project.