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Robinhood Meme Coin WALLET Market Cap Tops $50 Million, Up Over 57% Intraday to New All-Time High

OdailyOdaily

Odaily News: According to GMGN data, the market cap of the Meme coin WALLET on Robinhood Chain briefly surged past $50 million, setting a new all-time high, with an intraday gain of over 57%, and is now at $46.88 million.

In terms of narrative, community on-chain researchers discovered that wallets related to WALLET's deployment appear to have fund connections with a wallet linked to Robinhood co-founder Vlad Tenev. Meanwhile, some addresses had on-chain activity weeks before Robinhood Chain was officially made public, and a cluster of wallets has been alleged to be connected to a Robinhood product manager. The community has therefore hyped it as a potential "team-linked stealth launch" narrative, drawing parallels with the early trajectory of TIBBIR on Base.

Currently, neither Robinhood, Vlad Tenev, nor related personnel have confirmed any connection to WALLET, and the above on-chain relationships remain community speculation.

Odaily reminds that Meme coin prices are highly volatile, and WALLET's current core narrative is built on unverified on-chain connections, so please be aware of trading risks.

This content is for informational and educational purposes only and does not constitute investment advice related to BTCC. BTCC makes every effort but cannot guarantee the truthfulness, accuracy, or originality of the content above.