# Robinhood Chain DEX volume — X 热门讨论 (2026-09-28 18:03 UTC)
## @legiondotcc (LEGION) · 09-28 14:39 · ♥306 ↻45 💬119 Jumper Deep Dive: The Super App Thesis https://x.com/legiondotcc/status/2104581660918304969
## @StarPlatinum_ (StarPlatinum) · 09-28 11:14 · ♥101 ↻3 💬52 So what is happening with $PONS?
PONS went from $0.01 to $0.97 in less than two months.
Now it’s trading at 45% below ATH.
imo the answer is much more interesting than “PONS is dead.”
- $146.3M fees in the last 30 days - $25.2M protocol revenue - $16.2M directed to holders / buybacks - $2.45B DEX volume - $365M mkt cap
Let’s also ook at the last seven days.
- $25.2M monthly revenue - but only $2.21M in the last 7 days - and $191K in the last 24 hours.
That’s where I think the market is getting nervous.
PONS spent the beginning of September pricing in insane growth from Robinhood Chain.
It worked incredibly well while everything was expanding.
Now we’re finding out what happens when that activity slows down.
And there has been real sell pressure.
One whale sold 5.33M PONS for ~$3.67M at $0.68.
Btw Loracle has been aggressively shorting the token and already made millions
But there’s another reason I’m watching this closely: September 29.
Robinhood’s gas subsidy period is expected to end around then.
And I think the next couple of weeks will tell us much more about Robinhood Chain than the previous month did.
The chain has produced insane numbers while transactions were heavily subsidized.
Now we get to see how many people actually stay when using the chain starts costing them money.
And first I want to know what a normal month looks like.
Remember Launchpads have zero loyalty.
I’m watching Robinhood Chain volume after gas subsidies end.
And especially where the next successful launches happen.
Thoughts? https://x.com/StarPlatinum_/status/2104530282363646420