CASHCAT jumps 718% as meme-coin speculation grips crypto again
The post CASHCAT jumps 718% as meme-coin speculation grips crypto again appeared on BitcoinEthereumNews.com. CASHCAT, a meme token that operates on Robinhood’s newly introduced Layer 2 blockchain, has grown by more than 718% in just 24 hours, resulting in a market capitalization of well over $68 million, according to real-time trading data collated by CoinMarketCap DexScan on July 8. This growth is another indication that the speculative nature of meme coin trading is once again causing traders and trading volume to migrate to the token that has the greatest momentum. In terms of importance to the wider market, tokens such as CASHCAT are more valuable for the effects they produce rather than for their size in the market. Meme trading is known to increase network activity and fees, as seen from the report by Cryptopolitan which noted significant increases in Solana’s active addresses and BNB Chain trading volume recently. CASHCAT has also been able to increase network activity and tradi