CASHCAT, the cat-themed memecoin on Robinhood Chain, has rebounded sharply to an $86 million market cap after a 120% weekly gain. The token’s price reached approximately $0.087 with a daily trading volume of $9 million, though it remains below its July peak of $0.22. Created by outside developers using Robinhood’s former cat-with-cash logo, the project is described by its website as ‘fan fiction with a ticker.’
CASHCAT became Robinhood Chain’s first breakout memecoin within a week of the mainnet launch on July 1, with early wallets recording seven-figure returns during the initial surge. However, launch activity has since declined. The Noxa launchpad stopped accepting new launches on July 11 and went offline two days later, having earned an estimated $12 million in fees. Daily token deployments across Robinhood Chain launchpads fell from roughly 35,000 in mid-July to nearly 10,000. Noxa still holds about $137,000 in CASHCAT and has not sold.
According to DEXTools data, there are approximately 41,200 holders, with the entire 989 million supply in circulation. The Uniswap liquidity pool holds 2.47% of the supply, while the next largest wallets each hold between 1.3% and 1.5%. The liquidity pool now contains $5 million, compared with $6.6 million when CASHCAT had a $105 million valuation.
Robinhood Chain Activity Rises
Robinhood Chain’s total value locked (TVL) reached $774 million after rising 20% in seven days. Lending protocols accounted for 43% of TVL, while asset management represented 41.5%. Key players include Morpho with $332 million (supporting Robinhood’s on-chain earn product) and Ethena with $236 million. Stablecoin balances grew 14% weekly to $575 million.
Bybit Adds Leveraged Trading
Bybit has introduced a CASHCAT perpetual contract with up to 10x leverage, further boosting trading activity. However, questions remain about trading momentum after Robinhood stops covering gas fees around late September. The chain’s stated tokenized-asset total stands at $27.6 million, while another active-market measure reached $100 million, up from about $70 million in late July. During that earlier period, about 12 tokenized stocks each recorded more than $500,000 in daily trading, with GameStop’s tokenized stock generating $26 million alone.
CASHCAT’s recovery comes amid growing Robinhood Chain deposits and stablecoin balances, yet declining token launches and the impending end of subsidized gas fees represent key tests for the ecosystem’s sustainability.
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