Robinhood Chain’s CASHCAT Meme Coin Skyrockets to $150 M Market Cap

Robinhood launched its Layer‑2 Robinhood Chain on July 1, positioning it for tokenized stocks and real‑world assets. Within days the network saw a surge of speculative activity, driven by the meme token CASHCAT. Dune Analytics recorded a single‑day decentralized‑exchange volume of about $560 million and an active‑wallet count near 200,000.

CASHCAT’s price jumped more than 700 % in 24 hours, reaching a peak market capitalization of roughly $150 million and a price above $0.15 before settling near $0.08. The token’s liquidity pool stood at roughly $2.6 million, limiting how much could be withdrawn without market impact. One trader turned an $838 purchase into $917,600 of profit, according to Lookonchain data.

The rally was sparked by CEO Vlad Tenev’s X post stating the chain “works great for memes,” which quickly amplified social‑media buzz. Subsequent developments such as OpenSea’s integration of Robinhood Chain and listings on several exchanges have broadened access, but analysts caution that the meme‑coin surge may be short‑lived and that sustainable usage depends on broader DeFi and tokenized‑stock adoption.