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CASHCAT plunges after Hyperliquid debut, with trader profiting from short position

CASHCAT plunges after Hyperliquid debut, with trader profiting from short position

Robinhood Chain meme coin remained highly volatile after listing, with a newly flagged short showing $529,000 in unrealized gains two days after the position was opened.

ETH
HYPE

Fact Check
The core claims are corroborated by the primary source (Arkham's verified X post) and independent secondary reporting. Arkham directly states the ~$140K short profit and the near-50% decline since Hyperliquid listing. Odaily confirms CASHCAT is a Robinhood Chain meme coin with a 30%+ 24h drop and market cap below $100 million. CryptoTimes corroborates the ~$140K short and 40%+ drop. Minor variance in exact percentage figures and market cap snapshots across sources reflects normal volatility during the event window rather than contradiction.
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Summary

CASHCAT, a meme coin on Robinhood Chain, remained under heavy selling pressure after its July 11 debut on Hyperliquid. After reaching an all-time high of $0.2252 on July 12, the token fell more than 40% from that peak, with 24-hour losses cited at roughly 29% to 36% in separate snapshots and market capitalization reported from about $132.45 million down to $90.46 million, including a drop below $100 million. Arkham previously said a wallet labeled StablesCraftworth, associated with address 0xa31 and tagged L/S $20M, made about $140,000 by shorting CASHCAT near its local top and collected roughly $10,000 in funding fees. Separately, Lookonchain said trader 0x5fe6 spent 405 ETH, worth about $750,000, to buy 5.04 million CASHCAT tokens, a position later valued at roughly $290,000 for an unrealized loss of about $460,000, or 61%. A newer report also identified trader 0xc36a as having built a CASHCAT short two days earlier that was showing $529,000 in unrealized profit, underscoring the scale of gains available to bearish traders during the token's slide. CASHCAT perpetual futures on Hyperliquid also saw a more than 60% flash crash on July 13, dropping from above $0.190 to around $0.080 before rebounding.

Terms & Concepts
  • Hyperliquid: A decentralized perpetuals exchange where traders can take leveraged long or short positions.
  • shorting: A trading strategy that seeks to profit from a decline in an asset's price.
  • funding fees: Periodic payments between traders in perpetual futures markets that help keep contract prices aligned with spot markets.