Noxa stops operations and abandons all revenue; Robinhood Chain meme coins plunge

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Deep Tide TechFlow message: On July 16, according to CoinDesk, Noxa, the largest token-launch platform on Robinhood Chain, suddenly stopped accepting new token launches on July 11 after cumulatively earning nearly $12 million in fees, and took its website offline two days later. On July 14, Noxa announced that it would no longer charge any fees, distributing 100% of trading revenue directly to creators.

The decision sparked division within the crypto community. Some users supported its resistance to the flooding of low-quality tokens, while others criticized the move for missing a development opportunity. Affected by this, CASHCAT, the meme coin that accounts for most trading volume on the platform, fell more than 33% within 24 hours. Currently, the tokenized real-world assets market cap on Robinhood Chain is about $12.66 million, while CASHCAT’s peak market cap had been as high as 12 times that.

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