Uniswap purchases rival PONS token for long-term alignment as both coins rally
- Uniswap has purchased the native token of a memecoin launchpad, citing long-term alignment.
- Details of the acquisition or allocation, such as size, price, or wallet address, remain undisclosed.
- Uniswap Labs' pool.trade and Pons remain rivals on Robinhood Chain, while UNI hits an annual high and PONS hits a record high.
Uniswap (UNI) has purchased Pons (PONS) tokens in an undisclosed deal on Friday, citing long-term alignment with the memecoin launchpad token and its rival on the Robinhood chain. The nature of the deal, whether it's an acquisition or allocation, remains unknown, but Uniswap now holds a stake in Pons.
Pons has emerged as a leading memecoin launchpad on the Robinhood chain, routing tokens off its bonding curve to Uniswap V4 and rivaling Uniswap Labs’ pools.trade launchpad launched last month on the Robinhood chain.
PONS trades at its record high above $0.6800 at press time on Friday, advancing its price discovery mode. The price data shows parabolic growth in PONS, driven by its growing launchpad fees paid on Robinhood.
Uniswap rally gains traction
Uniswap hovers around $6.30 at press time on Friday, extending a strong bullish phase. The pair has pushed well beyond the 50-, 100-, and 200-day Exponential Moving Averages (EMAs) near $4.2640, $3.9145, and $4.0034, respectively, suggesting a broadly supportive trend backdrop.
Momentum remains overheated on the daily chart, with the Relative Strength Index (RSI) hovering in overbought territory near 81, while the Moving Average Convergence Divergence (MACD) rises steadily above zero, hinting that upside pressure persists even as the risk of a corrective pause grows.
A confirmed breakout above the December 28 swing high at $6.5690 could mark a fresh annual high and potentially target the 127.2% Fibonacci extension level at $8.7227, measured from $6.5690 to $2.3160.
On the downside, initial protection emerges around the 78.6% Fibonacci retracement at roughly $5.2554, ahead of the dynamic support reinforced by the 50-day EMA around $4.2640 and the 200-day EMA near $4.0034.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
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