The speculative trend on Robinhood Chain is shifting: meme coins are fading, while "utility" tokens are gaining momentum.
BlockBeats news, on July 15, according to GMGN data, last night meme coins on Robinhood Chain saw a widespread sharp correction led by the main coin CASHCAT. As of press time, CASHCAT's market cap dropped to 138 million US dollars, with a 24-hour decline of 12%. Other mainstream meme coins, HOODRAT and JUGGERNAUT, both fell by more than 25%.
Meanwhile, some “utility” tokens bucked the trend and rose during this correction. Among them, INDEX saw a rapid surge of 160% last night after attracting attention from Robinhood team members, with its market cap currently reported at 7.36 million US dollars. The project claims it will use transaction fees to purchase on-chain stock tokens and distribute them to INDEX holding addresses.
In addition, the Robinhood Chain native DeFi project ARROW surged 47.56% over the past 24 hours, with a current market cap of 22.43 million US dollars.
BlockBeats reminds users that the prices of related tokens are highly volatile, and users should invest cautiously.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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