Robinhood Chain sees 50,000 new meme coins daily, outlet reports

The Robinhood Chain launchpad has hit a new activity record, issuing approximately 50,000 tokens per day, but only 19 meme coins have surpassed a market capitalization of $1 million, U.Today reported. According to the outlet, daily trading volume for Pons-family assets has exceeded $82 million, and Flap launched around 22,000 tokens on July 14, breaking Noxa's previous record of about 18,000. Of the 19 meme coins with a market cap over $1 million, 11 were issued by Noxa and five by Virtuals. U.Today noted that since the launchpad is virtually free and supports automated issuance, a single developer or bot operator can create thousands of tokens without any real increase in demand. The report concluded that despite a surge in new launchpads, success remains concentrated among established players, with most tokens remaining temporary, illiquid experiments.