How CASHCAT and PONS Turned $220K Into $4.7M on Robinhood Chain

Two Trades, One Very Good Week

Onchain trackers discovered tackle ‘0x7e3ba’ to have posted back-to-back wins on two totally different Robinhood Chain tokens:

• The primary commerce was simple: $106.5K into 11.8 million $CASHCAT, offered in full for $672.6K, for a $566K revenue.
• The second continues to be taking part in out: The pockets spent $113.7K on 10.2 million tokens of $PONS, has already offered 1.1 million of them for $117.1K, and continues to be sitting on 9.1 million tokens value roughly $4.2 million at present costs.

Mixed, the 2 trades put the pockets’s whole revenue north of $4.7 million, most of it nonetheless unrealized. It’s the form of onchain story that spreads quick exactly as a result of the numbers are so lopsided.

The Robinhood Chain Gold Rush

Each tokens hint again to the identical launchpad, i.e. Robinhood Chain, an Ethereum layer-2 community constructed on Arbitrum’s expertise. Since its July launch, it has turn out to be the venue for a few of the yr’s most violent memecoin strikes. $CASHCAT was the primary breakout and as Bitcoin.com Information coated, the token jumped greater than 1,400% in a single 24-hour stretch the identical month (and over 5,500% throughout every week).

$PONS adopted an identical arc extra not too long ago. Because the platform token behind Pons, a token-creation and issuance service constructed on Robinhood Chain, $PONS collects charges in WETH that get used to repurchase and burn its personal provide. On August 30 alone, Pons generated greater than $930,000 in utility income, roughly 35% of every thing Robinhood Chain’s complete ecosystem earned that day.

The Catch Is Skinny Liquidity

When Bitcoin.com Information profiled $CASHCAT’s rise in July, the token carried a $150 million market valuation on simply $6.6 million of precise liquidity, a niche which, if confronted with a wave of coordinated promoting may collapse worth ranges far under what any single holder’s paper beneficial properties counsel

In any case, Robinhood Chain’s meme economic system reveals no signal of slowing down, and wallets like this one are precisely what retains new cash chasing the subsequent token. Whether or not this explicit holder cashes out the remainder of the $PONS place at these ranges or rides it additional will probably rely on how lengthy the token retains producing the payment income propping up its demand.