When Robinhood Chain Acquired Ethereum (Ethereum) Layer 2 (L2) Ecosystem On July 13, a cryptocurrency trader turned $85 into over $2 million using a meme coin dubbed Cash Cat (CASHCAT).
Cryptocurrency trader (0xee2) spent about 0.05 ETH, worth about $85, to buy 17.5 million shills on June 18, via Robinhood Chain. The position was acquired prior to the chain’s public mainnet on July 1, and its value soared after Vlad Tenev, CEO of Robinhood Markets, Inc. (Nasdaq: Capture),Support for online coins.
Tanev male That the network “does great with memes as well,” sparking significant buying interest for CASHCAT. As the meme’s market capitalization rose to more than $140 million in early July, the cryptocurrency trader retained more than $2 million in unrealized profits.
The cryptocurrency trader has since sold portions of the CASHCAT stack but still holds most of it, according to an on-chain post. Data track Bubble maps. Meanwhile, the trader holds more than 13.8 million CASHCAT, worth more than $2.07 million at press time, according to Metrics from Loconchine.
Cryptocurrency trader benefits from TradFi-focused series
The cryptocurrency trader made a fortune from the Robinhood chain, which focuses on tokenizing traditional finance (TradFi) products. Since its launch, the Robinhood chain has gradually become a major TradFi ecosystem.
Furthermore, Robinhood Chain has attracted more than $290 million in stablecoins, $134 million in total value locked (TVL), $12 million in real assets (RWAs), and $4 billion in cumulative decentralized exchange (DEX) volume, according to to update from DeFiLlama.
What’s next for CASHCAT Mimi?
CASHCAT price forecasts can be affected by Robinhood Chain’s growth momentum and exchange listings. At the time of writing, the meme token was widely traded on Uniswap V3, MEXC, and Meteora DLMM.
As such, CASHCAT has seen its market capitalization grow to approximately $156.71 million at press time. If memecoin continues to attract more traders after massive profits for early investors, it could rise further and overtake Solana (Sol) coins in the near future, and vice versa.
