Circle blockchain Arc's first day was dominated by memecoins, and the traders behind them had already moved on by Thursday morning.
- Arc processed 7.83 million transactions in its first 24 hours, but only about 624,000 USDC transfers over the chain's entire life — the payments use case it was built for barely registered.
- Day-one DEX volume reached roughly $82 million, less than a tenth of the $878 million Robinhood Chain hit during its own memecoin takeover in July. Top tokens including TOLLY, LONG and COOL are down 56% to 77% from launch highs.
- Circle's VP of product for Arc posted an AI-generated image promoting a memecoin on launch day, drawing about 1 million views and accusations that the company was shilling tokens to bootstrap its own network.
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The Definitive Stablecoin Landscape Series: Asia Pacific
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Why it matters :
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Payments firm OpenPayd targets year-end Nasdaq listing to fund U.S. expansion and acquisitions
Crypto job postings triple to over 1,200 in September, but applications fall
BlackRock offers a glimpse of how tokenization may change your investment portfolio
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