A PONS whale completed liquidation, releasing $3.67 million in selling pressure and driving the token price down 4%.

BlockBeats news, September 23 — According to on-chain analyst Ai Yi (@ai_9684xtpa), the "whale with a $4.5 million heavy position in Robinhood Meme and DeFi leaders" has liquidated PONS tokens, with $3.67 million in selling pressure driving the price down 4%, from $0.6968 to $0.6688.

Between 14:21 and 15:17 today, the whale sold 5.338 million PONS at an average price of $0.6779, worth $3.67 million. PONS was originally the address's largest on-chain asset, with an entry price of approximately $0.7154, resulting in a loss of about $200,000 on this sale.