Wintermute Holds $3 Million in PONS Tokens

Cryptocurrency market maker Wintermute has been reported to hold over $3 million (approximately 400 million KRW) in PONS tokens. According to Arkham, Wintermute is purchasing PONS using a time-weighted average price (TWAP) strategy, and the possibility of on-chain market making for PONS has also been raised. TWAP is a trading method that divides large orders into smaller transactions over a set period to reduce price impact, commonly used by institutional investors and market makers. PONS is a token traded on the Robinhood chain, and as related token trading increases, liquidity flows are also gaining attention. Previously reported, 29% of the total supply of PONS has been burned, and part of the fees is known to be used for purchases. This observation comes amid growing interest in PONS trading and liquidity within the Robinhood chain ecosystem. However, Wintermute's official announcement has not been confirmed. The expansion of token holdings by market makers may be linked to changes in the trading environment, but one cannot definitively determine the initiation of market making or price trends based solely on the holdings of a specific wallet. The impact on PONS trading and liquidity should be assessed through Wintermute's official stance or additional on-chain flows.