CASHCAT jumps 120% in a week as Robinhood Chain hits $774 million of value locked
Reported by CoinDesk · AI-assisted summary by ChikoCorp AI News Desk
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Summary
CASHCAT, a cat-themed memecoin on Robinhood Chain, surged 120% in one week to about 8.7 cents, recovering from a mid-July peak of roughly 22 cents. Meanwhile, Robinhood Chain's total value locked (TVL) has climbed to approximately $774 million, with tokenized real-world assets valued at $100 million. CASHCAT represents about 85% of the real-world asset value on the chain and maintains its status as the most liquid memecoin pool there.
Why it matters
The increase in CASHCAT's price and Robinhood Chain's rising TVL demonstrate ongoing user engagement and market activity despite a decline in launchpad token deployments. The data highlight that while most tokens launched alongside CASHCAT have faded, the chain itself continues to grow in locked assets and activity, underscoring its potential stability and utility beyond initial token hype.
Key context
CASHCAT was created by outsiders using an old Robinhood logo and gained major attention shortly after Robinhood Chain’s July 1 mainnet launch, delivering significant returns for early holders. Noxa, the primary launchpad for these tokens, ceased accepting new launches on July 11 and is now inactive, though it still holds cashcat tokens. Lending and asset management protocols, particularly Morpho and Ethena, dominate the TVL, with stablecoins on the chain totaling $575 million. Robinhood covers gas fees through about late September, with user fee payment beginning afterward as a key test.
Key numbers and entities
CASHCAT’s price rose to about 8.7 cents, with a market capitalization near $86 million and $9 million daily trading volume. Robinhood Chain’s total value locked is at $774 million (up 20% over seven days), with $100 million in tokenized real-world assets. Two protocols, Morpho ($332 million TVL) and Ethena ($236 million TVL), hold nearly 75% of the locked assets. Stablecoins total $575 million on the chain. The token has approximately 41,200 holders and a circulating supply of 989 million tokens.
What remains unclear
The source does not flag open questions but notes that the real test of the chain’s success will come once users start paying gas fees after Robinhood's current cover period ends in late September.