BlockBeats news: Since September 10, the recent on-chain market rally, led by Robinhood Chain, has temporarily cooled, with major cryptocurrencies experiencing pullbacks. As a result, market participants are now placing their hopes for the next rally on Arc Chain, set to launch on September 16.
Due to the open blockchain network developed by Circle, the stablecoin issuer behind Arc, which primarily serves institutional clients, there is significant disagreement in the market over whether Arc will strongly support crypto-native meme coin culture.
However, prior to this, several crypto-native platforms have announced they will support the Arc chain at launch, including the NFT marketplace OpenSea and the memecoin platform Fomo. In response to the Fomo launch announcement, Circle co-founder Jeremy Allaire promptly offered a positive reaction, signaling potential support for the crypto-native community. Whether Arc can successfully carry forward the on-chain momentum after its launch will ultimately be determined by market validation.