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FollowingCash Cat ($CASHCAT) becomes a star token on Robinhood\'s new chain
Cash Cat ($CASHCAT) emerged on Robinhood\'s new blockchain. Its price soared by about 50% within 24 hours, and its market value once exceeded US$150 million, before falling back. In the past seven days, the cumulative increase of the token has still reached approximately 4200%, making it one of the most eye-catching short-term price changes in the recent history of memein.
Memoin takes over the blockchain built for Wall Street
Robinhood Chain launched the public mainnet on July 1, 2026. As an Arbitrum based Ethereum second-layer network, its institutional positioning focuses on tokenized stocks and real-world asset settlement. However, within a few days, retail traders found another use.
A cat-themed memin coin CASHCAT became the first hit on the new chain, with its market value soaring to about US$105 million. CASHCAT is a memecoin created by the community on Robinhood Chain. Its name comes from an anecdote from the company: It was reported that \"Cash Cat\" was the early mascot of the Robinhood app and even almost became the app. This narrative hook gave the token an extraordinary presence in other early projects in the chain.
Data from the Dune dashboard shows that among the top 25 memes in Robinhood Chain, CASHCAT accounts for approximately 79% of the total market value and 74% of the transaction volume, while the second-largest token size is only about one-sixteenth of its size.
Robinhood CEO Vlad Tenev told CNBC on July 2:\"Assets without practical use will not last long.\" He positioned tokenized real-world assets as a lasting direction in the crypto space. A few days later, as CASHCAT prices rose, he posted on the X platform stating that although the company was building a blockchain for real-world assets,\"it also works for memin.\" He also paid attention to the account number of the token.
Record decentralized exchange trading volume and chain under speculative pressure
Robinhood Chain\'s decentralized exchange daily trading volume reached US$563.9 million on July 8, setting a record high for the network that has only been launched for a week-the memin boom overshadowed its positioning as tokenized assets. On the same day, the network added more than 141,000 active wallets, and the total number of daily active addresses reached approximately 193,000, which is equivalent to nearly one-third of the transaction volume of Solana\'s spot decentralized exchange during the same period.
Early buyers have turned small investments into a seven-figure windfall, with the five most profitable wallets achieving a combined gain of approximately $3.7 million, while thousands of late-stage traders have acted as exit liquidity. Despite the boom, CASHCAT\'s trading liquidity remains weak and prices fluctuate sharply, highlighting the risks of speculative memes and complicating Robinhood\'s efforts to position its blockchain as a tokenized real-world asset infrastructure.
Multiple counterfeit tokens named \"Cash Cat\" or \"CASHCAT\" have appeared on multiple chains, and the price pages of aggregators and exchanges currently list multiple tokens with similar appearance but prices far different from the original token. Traders are advised to verify whether they interact with the correct contract on Robinhood Chain before trading. Robinhood does not publish or endorse CASHCAT.
