PONS gains 13% amid $13.82 million token buyback
- —The protocol earned about $19.64 million in September, with $13.82 million spent on buybacks
- —Fees rose from $2.49 million on September 16 to $2.95 million
- —Open interest grew at double-digit rates to $188.57 million
- —The funding rate is positive at 0.0201%, with longs in the majority
Why it matters: The rally rests on buybacks and leverage, but weak spot inflows make it vulnerable.
Source: AMBCrypto