CASHCAT Market Cap Surges Above $110 Million, Hitting New All-Time High, with a 24-hour Increase of Over 13.9x

BlockBeats News, July 8, according to GMGN market data, the market value of Robinhood's on-chain Meme coin CASHCAT continued to surge, briefly exceeding $1.1 billion and hitting a new all-time high; it has now retraced to $1.04 billion, with a 24-hour gain of over 13.9x.

Robinhood's early mascot on the stock trading app was CASHCAT, which was later renamed Robinhood. On July 1 of this year, Robinhood launched its own L2 public chain, Robinhood Chain, focusing on on-chain finance and RWAs.

Robinhood's co-founder and CEO, Vlad Tenev, wrote on X platform today, stating that while the company is transforming Robinhood Chain into the best "Real World Asset" (RWA) public chain, the chain is also "very useful for trading MEME coins."

BlockBeats reminds users that Meme coins often lack practical value and experience significant price volatility, so trading should be approached with caution.