The memecoin that marked the chain's launch has rebounded to an $86 million market cap, with tokenized assets valued at $27.6 million.
By Shaurya Malwa|Edited by Omkar Godbole Aug 6, 2026, 4:31 a.m. 2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on CASHCAT surges 120% in a week as Robinhood Chain TVL reaches $774 million. (Cash Cat)SummaryShow- CASHCAT, a cat-themed meme coin on Robinhood Chain, has more than doubled in value over the past week to approximately 8.7 cents, although it remains significantly lower than its mid-July high of around 22 cents.
- Despite a decline in launchpad activity and the disappearance of many initial tokens, Robinhood Chain's total value locked has increased to about $774 million, with tokenized real-world assets valued at $100 million, where CASHCAT constitutes around 85% of those asset values.
- The token remains the most liquid memecoin pool on the chain.
The cat-themed cryptocurrency that initially dominated trading on Robinhood Chain has seen a remarkable 120% increase over the last week, partially recovering from a drop that followed the excitement of its launch in July, even as many other tokens released at the same time have faded away.
CASHCAT is currently trading at approximately 8.7 cents, which marks a 22% rise in the last 24 hours, bringing its market capitalization to about $86 million with a daily trading volume of $9 million. However, this is still a far cry from the nearly 22 cents it achieved in mid-July.
This memecoin was created by external developers around the cat-with-cash logo that Robinhood previously used, and its website describes it as "fan fiction with a ticker." It quickly became the first major success on the chain within a week of its July 1 mainnet launch, generating significant returns for early investors and prompting Robinhood Markets CEO Vlad Tenev, who had previously criticized assets lacking utility, to remark that the chain "works great for memes too."
However, many of the tokens that were launched alongside CASHCAT have since disappeared. Noxa, the launchpad responsible for the surge of tokens in July, ceased accepting new launches on July 11 and went inactive two days later, reportedly earning about $12 million in fees.
Token deployments across the chain's launchpads have decreased dramatically from approximately 35,000 daily in mid-July to around 10,000, according to data available. Noxa still possesses around $137,000 worth of CASHCAT and has not sold any of it; its holdings have remained stable over the past week while the token's value has surged by 75%.
The distribution of CASHCAT has also expanded, with DEXTools data indicating around 41,200 holders. All 989 million tokens are currently circulating without any locked allocation, and the largest holder is the Uniswap pool providing liquidity, which accounts for 2.47% of the total supply.
Wallets below this largest holder each hold between 1.3% and 1.5%. The liquidity pool currently has $5 million, down from $6.6 million that supported a $105 million valuation in July, yet it remains more substantial than any other memecoin pool on the chain.
Deposits have continued to rise steadily. The total value locked now stands at $774 million, reflecting a 20% increase over the past week, with lending making up 43% and asset management 41.5%. Two protocols account for nearly three-quarters of this total: Morpho, with $332 million, serves as the lending market for Robinhood's on-chain earn product, while Ethena, which has $236 million in assets, issues a dollar-pegged token that provides yield to holders. Stablecoins on the chain amount to $575 million, a 14% increase from the previous week.
The tokenized real-world assets that Robinhood aimed to host on the chain now have an active market value of $100 million, up from approximately $70 million in late July, when several tokenized stocks were trading more than $500,000 daily, with GameStop alone reaching $26 million in transactions.
Robinhood is currently covering gas fees until roughly the end of September. The first significant assessment of whether this growth is sustainable will occur after that, when users begin incurring transaction costs.
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