gm GME pumped last night on Robinhood Chain because it was paired with GME (the RWA). Cool idea - buying the meme forces people to buy the RWA token, which theoretically increases demand in both and everyone wins. Only issue is RWA have a real lack of liquidity on Robinhood atm - so when there are heavy demand events… there isn’t always enough supply that exists on chain to move the stock token in parity with what its value is on the market. This creates an arb opportunity for anyone who can mint the RWA on chain. The “demand” created by the meme at these market caps and volume is a blip compared to what the RWA stock actually trades. So - we’re at the stage in Robinhood where any popular RWA asset pairs are very easy up, but should also reflexively be very easy down. Honestly wouldn’t be surprised to see a few more RWA pairs squeeze today before things calm down (almost like aftershocks of an earthquake). But - even though the “squeeze both” idea might not be incredibly valid today… there’s a real possibility it can be in the future when there is more volume and liquidity. And in the meantime, it’s one hell of a marketing event to get people to bridge to Robinhood Chain. So even though a lot of these pairs will correct sharply when the initial hype dies - the narrative and the momentum on chain is real and just getting started. Still early.(K A L E O)