CoinDesk
A cat-themed memecoin named CASHCAT became the first breakout hit on Robinhood Chain just days after the brokerage switched on its Arbitrum-based network to move stocks and bonds onchain. The token, built by outsiders around the cat-with-cash logo Robinhood used before its rebrand, has climbed to a market value of roughly $105 million.
The windfalls concentrated fast. One wallet spent $838 on 15.04 million tokens about three weeks ago and has since realized about $917,600 selling into the run, with another $133,700 still on the table. A second turned $85 into $687,700 realized plus roughly $1.2 million unrealized. DEXScreener data shows the five most profitable wallets banked close to $3.7 million between them, every dollar of it extracted from roughly 12,300 opposing sell orders.
Why it matters
Robinhood launched the chain on July 1 at a London keynote billed "Robinhood Presents: The World Is Flat," with day-one integrations from Uniswap and Chainlink and months of positioning aimed at tokenized equities and real-world assets. The first breakout instead is a memecoin whose own website describes it as "fan fiction with a ticker." On July 2, CEO Vlad Tenev told CNBC that memecoins were largely a dead end because "assets without utility do not serve a lasting purpose." Six days later, as CASHCAT kept climbing, he posted on X that while the chain is being built for RWA, "it works great for memes too," and followed the token's account.
The mixed signal matters because new chains need transactions and wallets to look alive, and speculative trading delivers both faster than tokenized Treasuries do. Pump.fun, the Solana memecoin launchpad, added support for Robinhood Chain tokens on July 8, letting users trade them without bridging, with co-founder Alon Cohen writing that it is "only right" for the leading retail app to back what traders want to speculate on.
Market impact
The trade sits on thin ground. CASHCAT carries a $105 million market cap against roughly $6.6 million of liquidity in its Uniswap pool, meaning it cannot absorb even a small fraction of holders exiting at once.
Frequently asked questions
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What is CASHCAT and why is it on Robinhood Chain?
CASHCAT is a cat-themed memecoin built by outsiders around the cat-with-cash logo Robinhood used before its rebrand. It trades on Robinhood Chain, the Arbitrum-based network the brokerage switched on July 1 to move stocks and bonds onchain.
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How much did the top CASHCAT traders make?
One wallet turned $838 into roughly $917,600 realized plus about $133,700 still on the table, a return near 1,250x. A second turned $85 into about $687,700 realized plus roughly $1.2M unrealized. DEXScreener data shows the five most profitable wallets banked close to $3.7M between them.
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Did Robinhood create the CASHCAT token?
No. Robinhood did not create the token. CASHCAT's own website describes it as "fan fiction with a ticker," a project built by outsiders around the abandoned mascot logo.
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What did Robinhood CEO Vlad Tenev say about memecoins?
On July 2, Tenev told CNBC that memecoins were largely a dead end because "assets without utility do not serve a lasting purpose." Six days later, as CASHCAT climbed, he posted on X that while the chain is being built for RWA, "it works great for memes too," and followed the token's account.
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How risky is CASHCAT's liquidity right now?
CASHCAT carries a market value of about $105 million against roughly $6.6 million of liquidity in its Uniswap pool. The token is down about 12% over 24 hours and roughly a quarter off the $145M intraday peak touched Wednesday, with sell volume edging past buy volume.
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