Robinhood Chain's JINQIAN Token Surges 890% in 24 Hours, Market Cap Reaches $35M

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On-chain data shows that Robinhood Chain’s JINQIAN token surged 890% in 24 hours, reaching a $35 million market cap on September 2. The spike may be linked to trader Rune’s plan to tokenize low-cap Nasdaq stocks and launch meme coins. Rune reportedly spent $1.8 million to acquire 37.4% of a Nasdaq-listed company and aims to tokenize its shares on Robinhood Chain. On-chain analysis reveals no confirmed connection between JINQIAN and Rune’s plan. Odaily notes that this narrative remains unverified, and meme coin prices are highly volatile, advising caution in trading.

On September 2, according to GMGN data, the Robinhood Chain ecosystem token JINQIAN briefly reached a market cap of $36 million, surging over 890% intraday, and is now trading at $35 million.

The market is paying attention, possibly in connection with Rune's recently disclosed plan for “tokenization of low-market-cap Nasdaq stocks + Meme coins.” Rune stated that he has spent approximately $1.8 million to acquire a 37.4% stake in a Nasdaq-listed company and plans to tokenize the associated equity on Robinhood Chain, while also launching a Meme coin paired with the tokenized stock. It is currently unconfirmed whether JINQIAN is directly related to Rune’s stated plan.

Odaily reminds you that the related narrative has not been officially confirmed, and meme coin prices are highly volatile—please be aware of trading risks.

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