CASHCAT Jumps 120% as Robinhood Chain TVL Hits $774 Million

Robinhood Markets launched Robinhood Chain on July 1, 2026, as an Ethereum-settled Layer 2 built on Arbitrum technology, aiming to bring tokenized stocks and onchain finance to its retail customer base. The network instead drew its first burst of activity from memecoins, which accounted for more than 80% of decentralized-exchange trading. The split matters because Robinhood’s longer-term case rests on converting speculative traffic into durable deposits, lending and demand for real-world assets.

By July 26, Robinhood Chain’s seven-day average of daily active accounts had slipped 7% from the prior week to about 275,000, while trading volume and user engagement also weakened. Deposits continued to rise, however: the network held roughly $478 million in stablecoins and $338 million in DeFi total value locked, against about $12 billion in cumulative DEX volume. The divergence suggests capital is remaining onchain even as the memecoin-fueled launch surge loses momentum.

Robinhood launched Robinhood Chain on July 1 to bring equities and other real-world assets onchain, seeking to connect its retail brokerage base with decentralized markets. The project matters because tokenized shares could extend trading beyond conventional market hours and make settlement and transfers more programmable. Early activity, however, was dominated by memecoins and stablecoins, leaving open whether the network’s original tokenization strategy could attract meaningful liquidity.

By July 25, the value of tokenized real-world assets on Robinhood Chain had climbed roughly fivefold in less than two weeks to about $70 million. Daily volume reached $26.6 million for tokenized GameStop shares, $14 million for Nvidia and $6.4 million for SpaceX. Twelve tokenized stocks each cleared $500,000 a day and five exceeded $1 million, while total value locked tripled from mid-July to about $312 million and daily decentralized-exchange volume surpassed $600 million.

Online brokerage Robinhood recently launched Robinhood Chain, a new blockchain designed to advance the tokenization of traditional financial assets. Although the chain attracted a $200 million stablecoin market in its first week, its first breakout hit was the CASHCAT meme coin. The unexpected success diverged from Robinhood's original tokenization vision and reflected the community-driven speculation and wealth-creation frenzy in crypto markets.

CASHCAT's market capitalization recently surged to $105 million and climbed more than 20% within 24 hours, at one point topping $200 million. One trader reportedly turned an $800 stake into more than $1 million in profit within a short period. The boom also exposed the extreme speculative risks posed by meme coins' high volatility and severe lack of liquidity, warranting continued investor caution.