As Robinhood Chain took Ethereum (The price of ETH) Layer Two (L2) ecosystem is a storm since July 13, a crypto trader turned $ 85 into more than $ 2 million with a meme coin called Cash Cat (CASHCAT).
A crypto trader (0xeee2) spent about 0.05 ETH, worth about $85, to buy 17.5 million CASHCAT on June 18, through the Robinhood Chain. The position, which was discovered in front of the public on July 1, exploded after Vlad Tenev, CEO at Robinhood Markets, Inc. (Nasdaq: HOOD), helped fund the Internet meme.
Tanev he realized that the network “also works well for memes,” which leads to CASHCAT’s buying interest. When the value of the meme rose above $ 140 million in early July, the crypto trader had more than $ 2 million in unrealized profit.
The crypto trader has sold some shares of CASHCAT but still retains most of it, according to the chain. data tracker Bubble maps. Currently, the trader has more than 13.8 million CASHCAT, worth more than $ 2.07 million at the time of printing, as metrics from Lookonchain images.
Crypto trader benefits from TradFi direct chain
The crypto trader has received a large amount of money from the Robinhood Chain, which focuses on the sale of Traditional Finance (TradFi). Since its inception, Robinhood Chain has gradually become a major feature of TradFi.
Additionally, Robinhood Chain has attracted $290 million, $134 million in Total Value Locked (TVL), $12 million in Real-world Assets (RWAs), and $4 billion in cumulative Decentralized Exchange (DEX), according to research. change it from DeFiLlama.
What’s next for the CASHCAT meme?
The value of CASHCAT may be affected by the growth of Robinhood Chain and exchanges. At the time of going to press, the meme token was oversold on Uniswap V3, MEXC, and Meteora DLMM.
As such, CASCAT has seen its market cap grow to about $156.71 million at the time of publication. If memecoin continues to attract more investors following the high profits of early investors, it may continue to advance and beat Solana.SOL) meme money soon, and vice versa.
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