CoinMeta data: Recently, the boom around the $443 million memecoin token quickly subsided, with Robinhood and Circle becoming the latest victims. Robinhood Chain was launched this summer, and trading activity surged in September, involving not only tokens related to cats and other internet memes but also stock tokens that track the prices of individual stocks. However, this trading boom was short-lived; trading volume soared from nearly zero in July to $443 million at the beginning of September, but then declined by 96%. Meanwhile, about 26,000 new tokens were launched each day in September, with a peak of nearly 45,000 new tokens per day, but most of these tokens had almost no trading volume after their launch and are now virtually worthless. In addition to Robinhood Chain, Circle also launched the Arc blockchain in mid-September, which is designed specifically for Wall Street banks and large institutions, with trading volume on the first day exceeding $336 million. Experts point out that these new blockchains are experiencing their own “booms,” but the outcomes may not be much different.