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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
08/07/2026

CASHCAT Surges 120% as Robinhood Chain TVL Climbs to $774 Million

What happened: Robinhood Chain, an Arbitrum-based L2 launched July 1, 2026, saw its total value locked (TVL) rise 20% over the past week to $774 million.

CASHCAT Surges 120% as Robinhood Chain TVL Climbs to $774 Million

What happened: Robinhood Chain, an Arbitrum-based L2 launched July 1, 2026, saw its total value locked (TVL) rise 20% over the past week to $774 million. The memecoin CASHCAT, which had crashed ~75% from its mid-July peak, rebounded 120% over the week to a market cap of $86 million and daily volume of $9 million. Tokenized real-world assets (RWAs) on the chain reached $100 million, while stablecoin balances climbed to $575 million. Robinhood's subsidized gas fees are set to end in late September.

Why it matters: Despite Robinhood Chain's stated focus on tokenized RWAs, memecoins—especially CASHCAT—now dominate activity, with its market cap alone equaling nearly 85% of RWA value on the chain. This shift highlights the persistent speculative draw of memecoins in new ecosystems, even when institutional narratives focus on real-world asset adoption. The upcoming end of gas subsidies poses a potential headwind for growth. CEO Vlad Tenev, who previously dismissed memecoins, has since pivoted public messaging to embrace their role in the chain's early traction.

Source: CoinDesk