Back
Robinhood Chain activity surges after launch as CASHCAT tops $200 million

Robinhood Chain activity surges after launch as CASHCAT tops $200 million

The Arbitrum-based Ethereum layer-2 posted record DEX activity after its roughly July 1 launch, at one point surpassing Solana on single-day volume as memecoin CASHCAT briefly exceeded a $200 million market capitalization.

ETH
SOL
ARB

Fact Check
The core claim is directly confirmed by the primary Cointelegraph report citing DefiLlama, which gives Robinhood Chain $433.19M vs Hyperliquid $296.23M in 24-hour DEX volume. The exact figure ($433.19M) matches. The supporting first-week metrics (17M+ transactions, ~350k addresses, ~$250M TVL, meme-coin driven) are corroborated by TheBlockBeats. Odaily and Coingape independently confirm the flip. The figures are point-in-time DefiLlama snapshots, which explains minor rounding variation ($433.19M vs '$433 million').
Summary

Robinhood Chain, a permissionless Ethereum layer-2 built with Arbitrum Orbit, showed strong early growth after its roughly July 1 public mainnet launch. Dune data cited in later reporting said the network briefly surpassed Solana in single-day decentralized exchange trading volume, while other reports said Robinhood Chain DEX volume reached a record $846.8 million on July 10 and remained ahead of Hyperliquid in separate 24-hour snapshots. The network also passed $420 million in tokenized asset market cap, recorded more than 38.72 million transactions within 10 days, and cleared roughly $100 million in total value locked, with updates citing about $101.03 million to $106 million. Trading was driven largely by tokenized stocks and memecoins, especially CASHCAT, which briefly rose above a $200 million market capitalization on July 11 after reaching an all-time high of $0.211 before easing to around $0.193.

Terms & Concepts
  • Arbitrum Orbit: A framework for building customized layer-2 or layer-3 chains that use Arbitrum technology on top of Ethereum.
  • tokenized stocks: Blockchain-based representations of equities traded on a blockchain network.
  • DEX trading volume: Total value traded on decentralized exchanges, used as an indicator of on-chain trading activity and liquidity.