Robinhood Meme Coin Surges 500% Even Without Listing...Warning of Crash When Illusion Fades

▲ Robinhood, The Juggernaut (JUGGERNAUT), Frong (FRONG), Meme Coin/AI Generated Image

The Robinhood Chain meme coin showed explosive volatility on the news of its asset page addition.

According to CoinGape on September 10 (local time), Robinhood Assets added The Juggernaut (JUGGERNAUT) and Frong (FRONG) to its asset list. Users can check prices on the respective pages. However, this is separate from Robinhood Crypto's spot trading support.

Following the news, JUGGERNAUT surged over 500% within an hour. Its 24-hour trading volume also exploded by more than 3,000%. FRONG also soared approximately 130% at one point, reaching an all-time high of $0.0164. FRONG's 24-hour trading volume increased by over 1,300%.

However, confusion arose in the market regarding actual listing status. Farokh Sarmad, co-founder of Myriad Markets, stated, “Basically, an asset page has been created on Robinhood and made searchable, but it is not a listing.” The media reported that Cash Cat (CASHCAT) is the only Robinhood Chain meme coin available for spot trading.

Robinhood Chain is an Ethereum (ETH) Layer 2 blockchain built for tokenized stocks and real-world assets. Recently, it has also emerged as a trading venue for meme coins issued without permission. The trading volume of decentralized exchanges (DEX) on the chain has increased to $4.5 billion in the last 30 days.

The total value of tokenized assets on Robinhood Chain amounts to $166.5 million. These include stocks, ETFs, commodities, and US Treasury bonds. CoinGape reported that Robinhood Chain also experienced disruptions recently due to a surge in demand.

[Article Key Summary]

-When Robinhood Assets added asset pages for JUGGERNAUT and FRONG, both meme coins surged.

-JUGGERNAUT jumped over 500% within an hour, and FRONG also rose by approximately 130% at one point.

-This action is not a spot trading listing, and Robinhood Chain's decentralized exchange trading volume reached $4.5 billion in the last 30 days.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*