Morning Minute: Robinhood Chain Levels Up as Memes and RWAs Soar

Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt.

GM!

Today’s top news:

• Crypto majors are green led by SOL +7%; BTC at $79.4k
• ETF inflow streak continues, ETH outperforms
• Pump hits another local high in revenue, adds HyperEVM
• Ansem and Cashcat hit major new ATHs as onchain levels up
• ACK’s ‘Argonauts’ sell out in 5 mins, see 1,600 ETH secondary action

📈 Robinhood Chain Levels Up as Memes and RWAs Soar

Robinhood Chain is heating up, and it’s cat, dog and infrastructure plays driving the run. One of which comes with a major RWA twist.

The chain just put up its strongest day since mid-July, with roughly $443 million in DEX volume, more than 3 million transactions, and active wallets back above 115,000. Volumes are up 3x off the early August bottom near $140 million.

The token board went with it.

• CASHCAT, the leading meme coin, ran to a $250 million market cap after a 25.9% day on $24.1 million of volume (and new ATH)
• PONS, the leading launchpad, added 30% to reach $94.9 million on a huge $200k+ revenue day (and new ATH) and got listed on Gate.io
• Artificial Inu ran 80% to $58 million (the memecoin paired with tokenized NVDA stock in its LP)
• Delta, the “Meteora of Robinhood Chain,” gained 58.9% (ATH)

StonkBroker, Index, HMM, TENDIES, Juggernaut and YOLO all closed green as well, and new runner Biscotti soared to $10M in just a few hours.

For perspective, every token in the top eleven by market cap is under two months old.

A huge part of the story is RWAs. Total real-world asset value on the chain reached $41.9 million across 202 tokenized assets, and net onchain RWA flows spiked to roughly $85 million Monday, the biggest single day since launch. In mid-July that number was $12.8 million.

And Robinhood’s CEO is taking notes. Vlad Tenev told Graham Stephan on The Iced Coffee Hour this week that developers built things the company didn’t plan for, connecting memecoins, core crypto, and stock tokens into products Robinhood wouldn’t have thought to make. His example: hold a memecoin, get stock tokens airdropped to you (this is a hallmark of the Stonkbrokers eco and similar features exist with AI). Clearly Vlad is paying attention to what’s happening on the chain.

So where do things go from here? Well, likely higher—even though the tokens are due for a cool off after a few days of parabolic growth. The key to watch will be the next potential Robinhood listing after Cashcat was listed a few weeks back. Another listing 1) confirms that more and more tokens will be listed down the line and 2) will give insight into which sectors Robinhood may be favoring (i.e. memes, utility, infrastructure, etc.) As long as Vlad and team keep leaning in, the sky is the limit for where this new ecosystem can go…

🌎 Macro Crypto and Markets

• Crypto majors are green with SOL leading; BTC +1% at $79.4k; ETH +1% at $2,500; SOL +7% at $104; HYPE -1% at $82
• Top alt movers include VET (+25%), SPX (+13%) and TAO (+10%)
• Oil +2% at $82; Gold -0.2% at $4,650
• Stock futures are green after NVDA smashed earnings; DOW even, Nasdaq +1%
• Nvidia posted record quarterly revenue of $96.2 billion, up 106% year over year, and disclosed $366 billion in future AI infrastructure commitments
• Ethereum developers proposed rebuilding the validator deposit contract to accept keys up to 8,192 bytes, the first concrete step toward post-quantum staking
• The Dallas Fed warned that tokenized deposits could cut bank lending capacity by roughly $700 billion, since instant settlement lets yield-chasing depositors switch banks in seconds
• Judge Katherine Polk Failla pushed Roman Storm’s Tornado Cash retrial to April 26, 2027, a delay of more than six months, with his acquittal motion from April still undecided
• Galaxy opened retail crypto-backed credit lines at 8.99% APR against Bitcoin, Ethereum, and staked Solana, with a 50% loan-to-value cap and no rehypothecation
• DeFi Development Corp launched State of Solana, a free dashboard tracking staking yields, validator distribution, and network throughput, while its own DFDV shares sit down more than 70% over 12 months
• Core Lightning maintainers told node operators to install a coming security release or restart with the offline flag, after a cluster of AI-generated vulnerability reports arrived from multiple sources and several turned out to be real

Corporate Treasuries & ETFs

Meme Coin Tracker

• Meme leaders were green; DOGE +2%, SHIB +1%, PEPE +3%, PENGU -1%, TRUMP +3%, SPX +15%; Fartcoin -1%
• Robinhood chain saw major gains again; AI +30%, Stonkbroker +20%, INDEX +35% and TENDIES +35%; Cashcat even at $225M (briefly hit $250M)
• Solana leaders included fone (+120x), Breaking (+100%), and aura (+80%); Ansem +20% at $340M

💰 Token, Airdrop & Protocol Tracker

🚚 What is happening in NFTs?

• NFT leaders were slightly red; Punks -2% at 31.8 ETH, BAYC even at 8 ETH, Pudgy -2% at 4.4 ETH
• Chain Mancers (+53%) and Stonkbrokers (+13%) led top movers
• ACK’s Argonauts sold out in 5 minutes and debuted with 1600 ETH volume on secondary and reached a 0.33 ETH floor before settling at 0.27
• FWA is launching its 2nd drop today with Sterling Crispin’s ‘Save ETH’ collection