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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.
“if you hold a meme coin, you just get stock tokens airdropped to you”@vladtenev said this on a podcast that dropped 3 hours ago.
he was describing what builders are already doing on robinhood chain:
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%
DeFi Development Corplaunched 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 maintainerstold 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
