On July 8, according to GMGN monitoring, the on-chain meme token CASHCAT on Robinhood has surpassed a market cap of $45.00 million, surging over 370% in the past 24 hours.
CASHCAT was the original mascot image for Robinhood’s U.S. stock trading app; the company later rebranded as Robinhood. On July 1, this year, Robinhood launched its proprietary Layer 2 public blockchain, Robinhood Chain, focused on on-chain finance and RWAs.BlockBeats reminds users that meme coins often lack intrinsic value and exhibit significant price volatility; exercise caution when trading.[BlockBeats]