Robinhood Chain memecoins plunged after Noxa, the network’s leading memecoin launchpad, shut down on July 11, despite generating over $12 million in protocol fees in the prior two weeks. Noxa launched more than 60,000 tokens—nearly 75% of all deployments on the chain—and drove over $4 billion in cumulative DEX volume, even beating Pump.fun in daily fees for five consecutive days. CASHCAT, the flagship memecoin, fell more than 33% in 24 hours after peaking at a $226 million market cap with 267,642 holders. Robinhood Chain’s daily DEX volume had approached $878 million before slowing, and rival launchpads are now competing to replace Noxa.
Robinhood Chain memecoins suffered a major setback after Noxa ceased operations on July 11. The launchpad had generated over $12 million in protocol fees in the two weeks before it stopped token launches.
Noxa played a central role by launching more than 60,000 tokens, accounting for nearly 75% of all token deployments on the chain. The platform contributed to surpassing $4 billion in cumulative DEX volume and beat Pump.fun in daily protocol fees for five consecutive days.
CASHCAT, the network’s flagship memecoin, dropped more than 33% within 24 hours after the announcement. The token had previously reached a peak market capitalization of $226 million and was held by 267,642 wallets following the Robinhood Chain launch on July 1.
Noxa attributed its decision to increasing bot activity and a flood of low-quality token launches. Days after the exit, its website went offline due to a Cloudflare issue, and the launchpad announced it would pay all trading fees to token creators going forward.
Crypto participants expressed differing views. Some users saw the decision as an effort to curb spam-driven speculation, while others questioned the abrupt departure after collecting substantial fees. Prominent trader 0xAvast dismissed concerns around CASHCAT as temporary market fear. In contrast, “the volume is already rotating to other chains” according to Shuarix.
Robinhood Chain recently surpassed Base in Uniswap deployment volume and recorded daily DEX volume approaching $878 million before trading activity slowed. While the network’s total value locked remains near $200 million, rival launchpads including flap.sh, trensh.Today, Bankr, and newcomer Pons are now competing for market share.
The shutdown highlights Robinhood Chain’s reliance on speculative trading despite its focus on tokenized real-world assets. Those assets currently represent only about $12.66 million in market capitalization on the network—far below CASHCAT’s peak valuation. For investors, the event underscores the risks of ecosystems heavily dependent on a single launchpad, where infrastructure disruptions can quickly reverse market momentum.
