Morning Minute: The Robinhood Chain Explodes in the Crypto Space

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Today’s top stories:

• Crypto majors return 3% across the board; BTC at $64.3k
• Circle receives OCC approval for charter bank; CRCL + 10%
• A new draft of the Clarity Act could come next week like a tick
• Polymarket is seeking regulatory approval to allow cross-border trading
• Robinhood Chain memes explode as Cashcat jumps 80%, several others rise 200%+

📈 Robinhood Chain Explodes Out of the Gate, Hyperliquid Runs and Arbitrum Raises

Just one week after its launch, Robinhood Chain has already become one of the busiest networks in crypto.

The Arbitrum-powered blockchain processed $568 million in trading on Wednesday and rose to $350 million by Thursday, with more than 5.2 million and 213,000 active addresses in 24 hours. Robinhood crypto GM Johann Kerbrat put the total for the first week on the exit of more than 17 million, about 350,000 addresses, about $250 million in protocol TVL, and on $1 billion DEX volume.

CEO Vlad Tenev leaned over, put it back on the X and said: “Robinhood Summer is here.

The numbers are connected to the most stable chains. At DefiLlama, Robinhood Chain’s 24-hour DEX volume of about $433 million is now the fifth largest of all blockchains, ahead of Hyperliquid. Its total closed value (TVL) exploded more than 7,000,000% in a week from near zero to almost $94 million, with the stablecoin’s balance rising to $260 million. For a chain that hasn’t been around for the past two weeks, Hyperliquid’s jump on the volume is moving the word. Although the project is starting from nothing and is mainly powered by memecoin.

And meme money is what adds up – until now. Symbols such as Cash Cat, which hit the $180M+ market, as well as a wave of Robinhood-themed coins such as Dog In Hood, Hoodrat, and Robinhood Summer, have recorded gains in the hundreds and thousands of hundreds, making the biggest winners. One seller turned $800 into $1 million and another turned $85 into $2 million.

Winners go beyond degens. Arbitrum’s ARB token jumped 20% to lead the top 100, as Robinhood Chain runs on the value of Arbitrum’s technology and directs 10% of its total revenue back to the Arbitrum ecosystem. And OpenSea gained a lot of volume and users as the first way to open Robinhood memes earlier this week (now Pump Fun and Fomo app have them).

It’s an impressive start to the Robinhood Chain – but is it the right move? The logical leaning in memecoins has worked as a blockbuster. But memecoins are a volatile business and leave many disappointed (and often broke). We have seen what happened to Solana after Trump. The darling of the 2023-2025 memecoin cycle has dropped 70% and is still taking riddles and searching for a new story. Definitely a warning to Vlad and the Robinhood team to heed.

Now, if this is just a bridge until the RWAs start working on their chain, maybe it will work. And that is the long term vision. So they allow degens to have fun in the short term. Let’s just hope they don’t make it their whole schtick…

🌎 Macro Crypto and Markets

• Crypto majors are green 2-3%; BTC +3% at $64.3k; ETH +3% at $1,798; SO + 2% on $79; HYPE + 2%% at $68
• DEXE (+19%), APX (+ 14%) and MORPHO (+ 10%) led the top performers
• Oil -2% on $72; Gold even $4,110
• The future it mixes; DOW +0.2%, Nasdaq -0.2%
• Round circles has risen 8% in the market after the company received OCC approval to the charter of the US National Trust Bank
• Coinbase Chief Legal Officer Paul Grewal The crypto giant is leavingending the high-profile run that led Coinbase to fight SEC regulations and became one of the company’s most visible representatives.
• SWIFT is a blockchain network It is attracting major banks with 24/7 token transfersA notable step when the backbone of banking communications around the world is moving to blockchain rail
• The new CLARITY Act documents it may drop as soon as next weeksources say, in the final push for the vote of the Senate at the end of July, although it still lacks the necessary purchase necessary to pass before the August 7 recess.
• New Hampshire’s Executive Council rejected a $100 million Bitcoin-backed bond requesta reversal of government efforts to acquire Bitcoin identity using government funds
• BitGo introduced tools to help organizations reduce the risk of quantum computing in their Bitcoin businesses, they allow customers to move to non-quantitative transactions as the Q-Day debate rages on.

Corporate Treasuries & ETFs

Meme Coin Tracker

• Meme leaders he was green; DOGE +3%, SHIB +2%, PEPE +3%, PENGU +2%, TRUMP +1%, BONK +2%
• Robinhood chain memes all went up after the night’s big move; Cashcat +80% to $180M, Juggernaut +110% to $17M, Hoodrat +400% to $15M and Tendies +64% to $6M leading leads
• ANSEM it fell another 36% to $200M after the Robinhood meme move; TripleT +80% and Saylor +170% led Solana movers

📈 Multi Day Market

💰 Token, Airdrop & Protocol Tracker

🚚 What is happening in NFTs?

• Directors of NFT they were mixed; Punks even at 32.4 ETH, BAYC -1% at 9.15 ETH, Pudgy +3% at 4.58 ETH; Hypurr’s -2% on 200 HYPE
• Gremlin Cartel (+200%) and Gimboz (+28%) led the top movers