STRATEGY Memecoin Reaches $7M Valuation on Robinhood Chain, Pairs with MSTR
A memecoin called STRATEGY has taken off on Robinhood Chain, reaching a valuation of roughly $7.2 million in just over a week since its launch. The token pairs with MSTR Stock Tokens, which have seen over $362,000 in activity within the first 10 days.
The STRATEGY memecoin's main pool went live on September 4 on Robinhood Chain, an Ethereum L2 built on Arbitrum. According to the project's account, the offering is a real-world asset (RWA) play, with MSTR tokenized on Robinhood backed by over $67B in Bitcoin.
However, it's worth noting that the memecoin is not a claim on Strategy stock. Instead, buyers are effectively paying with tokenized MSTR, which then sits in the pool. This has led to some traders and influencers touting the benefits of liquidity creating demand and vice versa.