INDEX jumps as Robinhood Chain token tops $45 million in market cap

INDEX, a token tied to the Robinhood Chain ecosystem, climbed sharply on Sept. 11, pushing its market capitalization above $45 million, according to GMGN data. The token was up 17.8% over the past 24 hours, while trading volume reached $5.5 million over the same period. GMGN was the cited source for the move and the market figures. The token has already been added to Robinhood’s list of tradable assets, which means users can buy and sell it directly inside the Robinhood app. INDEX, also known as The Index, is described as an RWA protocol token on Robinhood Chain. According to the information provided, once users hold a certain amount of INDEX, the protocol uses 3% of trading fees generated by the system to buy a basket of tokenized U.S. stocks, including names such as AAPL, NVDA, and TSLA. Those assets are then automatically airdropped to holders’ wallets every 15 minutes, with no staking or manual claiming required. BlockBeats also cautioned that tokens of this type can see large price swings and said investors should be careful.