The meme coin CashCat on Robinhood Chain is the latest flavor of the hour, and one patient trader is now sitting on a small fortune.

The meme coin CashCat on Robinhood Chain is the latest flavor of the hour, and one patient trader is now sitting on a small fortune.

Robinhood CEO Vladimir Tenev reversed his memecoin stance after CASHCAT surged up to 1,900% on Robinhood Chain, reaching a $110M market cap in 24 hours.

Robinhood's blockchain went live on July 1 to move stocks onchain. Its first breakout hit is a memecoin named after the mascot the company abandoned.

Lookonchain says a trader sold 20 million Cash Cat (CASHCAT) for $711 before the Robinhood Chain meme coin's 5,500% rally made it worth $2.7 million.