INDEX, a token in the Robinhood Chain ecosystem, briefly pushed its market capitalization above $16 million and was quoted at $16.02 million, according to GMGN market data. The token doubled over the past hour. The move appeared to follow recent comments from Robinhood CEO Vlad Tenev, who said developers were welcome to embed stock tokens or RWA into their applications. Earlier, the INDEX project said it would use trading fees to buy on-chain stock tokens and distribute them to INDEX holder addresses. The price action came as the market reacted quickly to the latest Robinhood-related narrative around tokenized stocks and real-world assets.
INDEX, a token in the Robinhood Chain ecosystem, briefly saw its market capitalization rise past $16 million and was quoted at $16.02 million, according to GMGN market data on July 15. The token doubled over the past hour.
The short-term jump appeared to follow recent remarks from Robinhood CEO Vlad Tenev, who said: "We welcome developers to embed stock tokens or RWA into your applications."
Earlier, the INDEX project said it would use trading fees to buy on-chain stock tokens and distribute them to INDEX holder addresses.
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