CATGPT, a meme token in the Robinhood ecosystem, briefly pushed its market capitalization above $20 million on Sept. 12 before pulling back to $15.62 million, according to GMGN market data cited by BlockBeats. The report said the token rebounded after an afternoon of volatile washout trading and was up 41% over the past hour.
CATGPT is paired for trading on Long.xyz with OPENAIx1L, described as a tokenized 1x long position tied to OpenAI.
How the Long.xyz model works
Long.xyz is a meme coin issuance platform on the Robinhood chain. BlockBeats said the platform focuses on a "stock-meme" model that directly links traditional meme coins with tokenized U.S. equities, combining sentiment-driven trading with what the report described as real-asset anchoring.
Rather than using traditional pairs such as USDT or ETH, the platform allows users to issue meme tokens and pair them directly with on-chain stock tokens including NVDA, TSLA, and AAPL.
According to BlockBeats, part of the trading fees is routed back to a community treasury to accumulate the corresponding stock tokens, creating a distinct value-capture mechanism.
OPENAIx1L and on-chain speculative exposure
The report said expectations for an OpenAI IPO remain high, but because the company is not listed, the traditional market does not offer a direct way to take a long position. On-chain, this type of tokenized long exposure combined with a meme pair is being used to offer speculative access.
BlockBeats described the setup as an upgraded version of earlier meme pair structures tied to stock tokens such as NVDA.
BlockBeats also warned that tokens in this category are highly volatile and carry substantial uncertainty, urging users to be cautious with investments.