Meme coin CASHCAT’s market cap once broke $200 million! It surged more than 20% in 24 hours, solidifying its position as the #1 on the Robinhood Chain.

Robinhood’s own Layer 2 network, “Robinhood Chain,” saw a meme coin named CASHCAT surge in a short time; its market cap briefly topped $200 million before falling back to $192 million. The 24-hour gain still remains above 20%, and trading volume during the same period reached $40.3 million. The cat’s name comes from Robinhood’s early-stage work codename “CashCat.” After CEO Vlad Tenev publicly said that this chain “is also very suitable for meme coins,” demand was ignited, making CASHCAT the first breakout asset to go viral on Robinhood Chain since its launch on July 1. （Background: RobinhoodChain goes viral overnight—who won in DeFi agreements?） （Background add-on: Robinhood launches its public chain: L2 mainnet goes live, crypto trading in the UK in sight）

Key takeaways

• CASHCAT’s market cap briefly broke $200 million, then pulled back to $192 million, while the 24-hour gain still exceeds 20%
• In the same period, trading volume surged to $40.3 million, cementing CASHCAT as the most active asset on Robinhood Chain
• The name is drawn from Robinhood’s early codename CashCat, with CEO Vlad Tenev calling out that this chain is “also suitable for meme coins”

Broker Robinhood’s own Layer 2 network, “Robinhood Chain,” has produced its first notable meme coin phenomenon. On-chain meme coin CASHCAT has recently seen explosive volume in the short term. Its market cap briefly exceeded $200 million, setting an all-time high of $0.211, before retreating to about $0.193 and putting its market cap near $192 million; the 24-hour gain still remains above 20%.

What’s driving the hype isn’t just the price. During the same period, CASHCAT’s trading volume hit $40.3 million; within 24 hours, there were over 43k completed trades, and nearly 6,800 addresses participated, solidifying it as the most active asset on Robinhood Chain. For a brand-new chain launched on July 1, it wasn’t tokenized stocks that pulled in both attention and volume first—it was a cat.

The name comes from an old, unused Robinhood banner

CASHCAT’s breakout comes with an easter egg. The name comes from Robinhood’s early work codename “CashCat.” Founders Vlad Tenev and Baiju Bhatt once used it as the company name, before later changing it to Robinhood.

The real spark came from Vlad Tenev, Robinhood’s CEO. He publicly said that the chain, which originally focused on tokenized stocks, is “also very suitable for meme coins.” That one sentence effectively gave CASHCAT the green light, and buying interest was immediately ignited.

Frequently asked questions

What is CASHCAT?

CASHCAT is the first breakout meme coin on Robinhood’s own Layer 2, “Robinhood Chain.” The name comes from Robinhood’s early work codename CashCat. Recently, its market cap briefly exceeded $200 million, making it the most active asset across the whole chain.

Why did CASHCAT suddenly surge?

Robinhood CEO Vlad Tenev publicly said that this chain “is also very suitable for meme coins,” sparking buying momentum. Combined with the opening of derivatives trading and the accumulation of positions, CASHCAT rose more than 20% in 24 hours and pushed trading volume up to $40.3 million.