A PONS investor sold 7.99 million tokens at a loss of about $308,000 after buying the position roughly a month earlier with 181 ETH, valued at around $443,000 at the time. The sale returned only 135,000 USDG after the token’s price declined, according to Lookonchain. PONS later rallied sharply, lifting the value of the previously sold 7.99 million tokens to about $3.46 million. Had the investor continued to hold the position, the unrealized profit would have exceeded $3 million.