CASHCAT, a cat-themed token native to Robinhood Chain, has seen a 120% rise in price over the past seven days. It has reached about 8.7 cents apiece. It has not regained its peak value of around 22 cents from mid-July. The token has gained renewed traction as many of the other early tokens introduced alongside it have lost attention. This recent climb has pushed the token’s market cap to approximately $86 million. It is supported by about $9 million in daily trading activity.
The Chain’s total value grew, but the frenzy cooled
Despite the drop in hype, Robinhood Chain has seen steady growth in its total value locked (TVL). TVL climbed to $774 million in the past week. This represents a 20% increase compared to prior periods. Tokenized real-world assets are a key focus for the chain’s long-term goals. They now represent a market value of $100 million. This is up from $70 million in late July. CASHCAT contributes about 85% of the value attributed to these assets. This underscores its central role in the chain's ecosystem. Broader interest in other tokens is waning.
The Noxa launchpad, which spearheaded a wave of initial token activity for Robinhood Chain, suspended new token deployments on July 11 and has since gone silent. Before its shutdown, Noxa earned an estimated $12 million in fees in its brief operational period. Token activity across launchpads has since dropped significantly, from roughly 35,000 daily deployments in mid-July to around 10,000 per day in recent weeks. This sharp decline highlights the fading excitement that once defined the chain’s early days.
Who’s holding the coin and how deep is the pool
CASHCAT is currently in the possession of about 41,200 holders. All 989 million tokens are in circulation. There is no locked supply. The Uniswap liquidity pool holds the largest share. It controls 2.47% of the token supply. This pool now holds $5 million in value. This is a drop from the $6.6 million it supported during the July peak. It remains the most liquid pool for memecoins on the chain. The second and third largest wallets each hold between 1.3% and 1.5% of the supply. This further distributes ownership across the network.
Stablecoins on Robinhood Chain now amount to $575 million in total, an increase of 14% over the past week. Two protocols, Morpho and Ethena, account for nearly three-quarters of the $774 million in TVL. Morpho serves as a lending platform and supports the chain’s native earn product, while Ethena offers a dollar-pegged token that delivers yield to its users. These platforms are central to the chain's evolving financial infrastructure.
Robinhood is currently covering the cost of gas fees for all transactions on the chain. This policy is set to last through late September. Once this period ends, users will be responsible for paying for their own transactions. This marks a critical test of the chain’s long-term viability. Whether the chain can retain its current levels of TVL and activity is a question. This is without corporate support. It will be a key indicator of its success or failure in the months ahead.