Tracey lauded Ponga on Tuesday, describing the maverick Queenslander as the "form fullback" in the NRL ahead of Sunday's trip to face the Knights.
Sharks prop Braden Hamlin-Uele, who played with Ponga at North Queensland, said the Newcastle star was in the form of his career.
While Ponga is one of the best-paid and most-watched stars, Tracey has only recently forced his way into fifth-placed Cronulla's starting side following an injury to regular fullback Will Kennedy.
Code-hopper Lachlan Miller left at the start of the year and promising youngster Kade Dykes is sidelined for the season, forcing coach Craig Fitzgibbon to turn to Tracey.
The 27-year-old has taken the opportunity with both hands and was named the winner of the Paul Green Medal following his exploits in last week's gutsy win away in Townsville.
A win against Ponga's Knights, who are undefeated in their last seven games, would guarantee Cronulla play finals football.
"He (Ponga) has been in unreal form, he would be the form fullback in the competition at the moment," Tracey said.
"It's so good to watch what he's doing, he's been killing it.
"He's going to be a big part of what we're trying to stop this week and I'm looking forward to the challenge."
Newcastle sit in seventh spot and while Ponga has grabbed the headlines, Hamlin-Uele said Tracey deserved praise for helping drag their season out of the mire.
"Connor has no care factor for his body and he's always putting us on the front foot with his carries," Hamlin-Uele said.
"He's the ultimate Mr Fix It, it's unfortunate for him that he hasn't played more for us with our squad depth.
"I'm stoked that he's been able to string a few games together because he's a phenomenal player and he's going to have a big career."
