The trending altcoin PONS, which saw the light of day earlier this summer, hit a new all-time high and just entered the prestigious club of the 100 largest cryptocurrencies by market capitalization.

Here’s what triggered its additional rally and some of the most interesting predictions for the near future.

PONS Keeps Pumping

The cryptocurrency market has a habit of spewing tokens that stun industry participants with rapid price increases. The latest example is PONS, which is closely connected to Robinhood Chain and began trading in mid-July.

Over the past two weeks, its valuation has skyrocketed by nearly 1,300% and is now hovering at a record high of around $0.55 (per CMC). PONS’s market capitalization is approximately $395 million, making it the 98th-largest cryptocurrency.

The most recent jump was likely triggered by Binance, which added the token to its Binance Alpha section. The platform serves as an early-stage discovery hub, featuring emerging cryptocurrencies before they potentially receive official backing.

The impressive performance has caught the attention of numerous industry participants. X user Crypto Tony, for instance, claimed that PONS “will no doubt” hit the $1 billion market-cap milestone “soon.”

Meanwhile, some traders and investors have already tried their luck with the token, but not all have been successful. As CryptoPotato reported, an anonymous person purchased nearly 8 million PONS roughly a month ago for about $443,000. Shortly after, the token pulled back, and the investor decided to minimize the damage by selling their entire position, incurring a $308,000 loss. This turned out to be an emotional and irrational move since the stash is currently worth over $4 million.

Surpassing the Leaders on This Front

Besides being a standout performer today (September 3), PONS is also the number-one trending cryptocurrency (according to CoinGecko). It has dwarfed popular altcoins like Arbitrum (ARB), Uniswap (UNI), Hyperliquid (HYPE), and others, while the heavyweights Bitcoin (BTC) and Ethereum (ETH) have not even made the top 10 list.

Source: CryptoPotato