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Robinhood Chain Hits Record $874.8 Million Volume — Are Meme Coins Back?

Robinhood Chain recorded $874.8 million in decentralized alternate (DEX) quantity on August 30, its largest single day for the reason that community launched on July 1.

Uniswap routed virtually 95% of that complete throughout three variations. A better have a look at the exercise reveals meme cash nonetheless setting the tempo.

How Cash Cat Set the Template

Robinhood launched its Arbitrum-based Layer 2 on July 1. Within per week, one meme coin was leading the chain.

Cash Cat (CASHCAT) grew to become the primary breakout token, climbing to successive highs and topping the chain’s buying and selling tables.

Volume set its earlier high of $846.8 million in mid-July, alongside 306,893 energetic addresses. It then fell again by means of early August.

Momentum returned late within the month, and the rebound carried a couple of document. The chain processed 5.5 million transactions on August 30. Token launchpad quantity reached an all-time high of $394.4 million.

Real-world belongings are gaining traction as well. Tokenized worth on the chain reached $51.81 million, led by $40.76 million in shares. RWA exercise totaled $165.5 million that day, additionally a document.

Meanwhile, Uniswap model 4 did the heavier lifting at $432 million, forward of model 3 at $356.9 million and model 2 at $40 million.

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Robinhood DEX Volume Record. Source: Dune

Pons Takes Over the Trade

Pons (PONS) led each token on August 30 with $67.38 million in quantity, 135,566 trades, and 12,670 distinctive merchants, per Dune. Cash Cat ranked second at $32.66 million.

Nine of the 20 most-traded tokens launched on the identical venue, ponsfamily.com. PONS itself trades at $0.328, up greater than 370% over seven days, with a $233 million market cap. It set a document $0.39 on August 30.

Pons (PONS) Price Performance. Source: BeInCrypto Markets

Robinhood Chain’s July peak got here from launch-week novelty and a token tied to the corporate’s personal identify. The subsequent take a look at is whether or not each day volume holds once the meme coin frenzy cools.

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The put up Robinhood Chain Hits Record $874.8 Million Volume — Are Meme Coins Back? appeared first on BeInCrypto.

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