Robinhood Chain Surges to Second Place in DEX Trading Volume... Driven by Meme Coin

Robinhood Chain briefly reached second place globally in DEX trading volume last weekend, according to Digiconomist. The platform recorded approximately $878 million in DEX volume on July 12, temporarily surpassing Coinbase Base and Ethereum. Most of the trading volume originated from Cache Cat, a meme coin named after the platform's former mascot. Cache Cat surged over 210% in its first week, reaching a market cap of $156 million. Robinhood emphasized that its goal is to attract new investors through its customer base by tokenizing assets and offering on-chain derivatives, rather than competing directly with existing exchanges.