DeFi Researcher Warns Meme Coins Are 'One-Cycle Trades' as Robinhood's TVL Stalls

According to ME News, on September 22 (UTC+8), DeFi researcher Ignas posted on X that the popularity of Robinhood’s meme coins and tokenized stocks is waning. The TVL of its tokenized stocks has remained flat for two consecutive weeks, and the number of shares burned has exceeded the number issued. Ignas further noted that if trading volume continues to slow, declining yields could lead to reduced holding willingness, increased selling pressure, and liquidity provider (LP) exits, further contracting liquidity. He revealed that he has already exited his LP positions due to significantly lower yields and believes the market requires new catalysts to reignite momentum. He also observed that tokenized stocks on Solana appear to still be rising, suggesting that the shift of capital from Robinhood to Solana may be more sustainable. Ignas added that meme coins are part of a “cycle-based trade”—investors can trade them but should not hold them long-term. WIF was the flagship meme coin of the previous cycle, but both its price performance and market attention have clearly declined. Once a meme coin loses market attention, it often signals the end of its rally; FARTCOIN is facing a similar situation. DOGE is one of the few exceptions to have spanned two cycles, but it is no longer a strong performer. Unlike Bitcoin, which continuously generates new market narratives, meme coins have short lifecycles. He cautioned investors against developing long-term positional reliance on meme coins such as ZCAT and CASHCAT. (Source: ODAILY)