PANews, September 17: According to CoinDesk, Circle’s institutional-grade blockchain, Arc, processed approximately 7.83 million transactions on its first day of launch on Wednesday. However, its core use case—USDC payments—was scarcely utilized, with only around 624,000 USDC transfers recorded on-chain to date. Arc’s first-day DEX trading volume reached approximately $82 million, significantly lower than Robinhood Chain’s $878 million peak during the memecoin frenzy. Several memecoins on Arc experienced sharp declines: TOLLY dropped 56% from its peak, LONG fell 77%, and COOL declined 75%. The largest token on Arc, ARGUS, has a market cap of approximately $16 million, followed by Circle’s own assets, cirBTC and EURC.
Circle's Arc Chain Launches with 7.8 Million Transactions, But USDC Payments Remain Minimal
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Summary
On-chain data shows Circle’s Arc Chain launched with 7.83 million transactions, but USDC payments accounted for only 624,000 transfers. DEX volume reached $82 million, trailing Robinhood Chain’s $878 million. Memecoins such as TOLLY and COOL experienced sharp declines. Institutional adoption remains limited despite the chain’s focus on institutional-grade infrastructure.
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