Something about @arc feels fundamentally off to me. 100% of the coins launching are getting nuked to near-zero within hours. At this point, it feels worse than Solana PvP. And that’s the part I don’t understand. @circle is a massive company with deep liquidity, distribution, and the ability to attract serious demand and volume. Yet the ecosystem is struggling to produce sustainable liquidity, culture, or engagement. Mass bundling repeatedly nukes launches. Bridges are broken. Volume is thin. Real utility isn’t translating into actual usage. And even core projects seem unable to escape the same cycle. Then there’s the culture problem. Executives are willing to shill rug pulls, but where is the engagement afterward? Where’s the support for creators? Where’s the effort to actually cultivate a community around Arc? The infrastructure may be promising, but infrastructure alone doesn’t create an ecosystem. Something is clearly broken between Arc’s potential and what is actually happening on-chain. I haven’t seen a single person that has a positive P&L aside from the people deploying coins and bundling and rugging to zero.