Robinhood Chain Meme Tokens Drop Overnight; CASHCAT Falls 12%, Utility Tokens Surge

According to BlockBeats, on July 15, Robinhood Chain meme tokens fell sharply overnight, with CASHCAT, the sector leader, dropping 12% to a market cap of $138 million. Other major meme coins HOODRAT and JUGGERNAUT each fell over 25%.

Utility-focused tokens surged in the selloff. INDEX rallied 160% to a market cap of $7.36 million after gaining attention from Robinhood team members, while native DeFi project ARROW gained 47.56% to a $22.43 million market cap.