Three cryptocurrency wallets switched their holdings from PepeCoin (PEPE) to Pond Coin (PNDC), the native token of Pond DEX, according to statistics supplied by LookOnChain.
They paid 600 ETH, or around $965,000, for a total of 487 billion PNDC tokens. The transactions underscore the divergent fortunes of Pond DEX’s PNDC, which is rising in the market, and PepeCoin, which is presently struggling with trust concerns.
New frog in the pond
With its aggregator function, PondX, backed by its native token PNDC, launched on September 1 and seeks to innovate in the decentralised exchange industry.
The DEX distinguishes itself from current platforms with capabilities like multi-chain smart routing and safe access to important liquidity networks.
Following its launch on Poloniex, the price of PNDC recently increased by 35%, increasing its market value to around $47.51 million and its 24-hour trading volume to $2.93 million.
Pepe’s fall from grace
On the other hand, Pepe continues to struggle to earn back investor confidence in the wake of claims that its creators engaged in huge token sales, causing a 20% decline in its value.
A big factor in the depreciation of the meme coin was the movement and sale by developers of 16 trillion PEPE tokens, according to blockchain monitoring services.
Further raising doubts about the token’s future, an early investor recently sold 1 trillion PEPE coins for 537 Ethereum, or about $885,000.
