Ponds only appeared in four games for the Raptors this season, picking up nine points in a total of eleven minutes of action. He last played on Dec. 31 against the Cleveland Cavaliers, scoring five points in two minutes.
The Brooklyn native, who went undrafted in 2019, was originally signed by the Raptors to a two-way contract on Oct. 23 after taking part in the Houston Rockets‘ training camp.
Watson started the season with the Raptors 905 but was poached by the Hawks on a 10-day contract on Jan. 6.
He appeared in two games during his stint in Atlanta, playing 17 total minutes and failing to register a point, going 0-for-7 from the field.
In 13 games with Raptors 905 this season prior to joining the Hawks, Watson was averaging 18.4 points and 7.4 rebounds per game.