Robinhood Chain Clears $1 Billion in Its First Week, Led by CASHCAT
Robinhood's new Arbitrum-based L2 topped $1 billion in DEX volume in seven days, with the CASHCAT memecoin hitting a roughly $150 million market cap.
Robinhood Chain is barely a week old, and its opening stretch already reads like a memecoin casino on launch night. The Arbitrum-based Ethereum Layer-2 that Robinhood built cleared more than $1 billion in cumulative decentralized exchange volume in its first seven days. One token drove most of that. CASHCAT, a community token native to the new network, swelled to a market capitalization near $150 million within days of the chain going live.
The cat that ate the volume
That valuation did not build slowly. It arrived in days, the vertical kind of move that defines a memecoin's short and violent life. CASHCAT is the clearest example of what Robinhood Chain was built to host: viral, community-driven tokens with no pretense of utility and no roadmap beyond attention. Keep in mind that the $1 billion figure is cumulative volume, not value locked, so a single hot token changing hands over and over inflates it fast. A fresh L2 crossing ten figures of trading in seven days is still a real read on where the crypto crowd pointed its money.
Two doors, one trade
Robinhood now sells memecoin exposure through two separate lanes, and the difference is the whole point. The main brokerage app has listed the established names for a while, DOGE and PEPE among them, with POPCAT and MEW alongside. Those are custodied trades on Robinhood's books, priced and settled by the broker. The second lane is the chain itself. Tokens like CASHCAT live natively there, as on-chain assets trading on a DEX, on infrastructure Robinhood owns but that behaves like everywhere else in crypto. A brokerage that used to just quote DOGE now runs the rails the next DOGE trades on.
The open question is how much of that $1 billion stays. Memecoin volume is famously reflexive, high one week and gone the next, and CASHCAT's $150 million cap was minted in the same compressed window that produced the DEX record. Week two is the tell. It will show whether Robinhood Chain has a user base or just caught a moment.
Sources
- Robinhood memecoins: main-platform tokens and Robinhood Chain's CASHCAT surge · Crypto News
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