The Cash Cat (CASHCAT) token peaked on July 11, surpassing a market cap of $200 million. The sharp rise was driven by the launch of derivatives trading, active investor buying, and a surge in volume on the Robinhood Chain.
At its highest, the price of CASHCAT reached $0.211, then corrected to about $0.193. Despite the pullback, the token’s market cap remains around $192 million. In just the past 24 hours, the coin gained nearly 29%, and over the week its value rose by more than 4,000%.
Cash Cat (CASHCAT) price dynamics. Source: CoinMarketCap
Meme Coin Inspired by Robinhood History
CASHCAT became the first meme coin to gain widespread popularity on the Robinhood Chain — a layer-two solution launched by the platform on July 1. The token’s name refers to CashCat — the working name for Robinhood used by the company before rebranding.
Interest in the project increased significantly after Robinhood CEO Vlad Tenev hinted that the new network is suitable not only for traditional assets but also for meme coin trading. Additional momentum came from new listings and the launch of derivatives trading.
What Is Behind the CASHCAT Rally
At the community’s request, Hyperliquid added perpetual futures for CASHCAT. Now traders can open long and short positions with leverage up to 3x. In addition, thanks to the Sunrise project, the token is now available on the Solana network.
On-chain interest remains high. According to GeckoTerminal, in the past 24 hours, trading volume for CASHCAT reached $34.89 million. During this period, users made 12,257 purchases and 8,061 sales, with a net inflow of about $1.36 million.
Additional support came from large investors. In particular, a wallet linked to well-known trader Ansem bought tokens worth about $233,000.
See also: Pantera Considers Hyperliquid a Threat to Traditional Exchanges
In the past 24 hours, CASHCAT became the most traded asset on the Robinhood Chain. It accounted for about $40.05 million in trading volume, more than 43,400 trades and nearly 6,800 unique traders.
Growth is not limited to the token itself. According to Dune, on July 10, total trading volume on DEX in the Robinhood Chain reached a record $846.8 million.
That same day, the network set another record for user activity. The number of active addresses rose to 306,893, of which 153,332 were new and 153,561 had used the network before.
DEX trading volume on Robinhood Chain. Source: Dune
The CASHCAT rally shows that Robinhood Chain has managed to attract speculative capital to its first truly viral token. The coin’s further performance will now depend on whether high trading volumes and buyer interest persist in the coming days.
