Circle's new Arc blockchain processed 7.83 million transactions in its first 24 hours, but the intended use for USDC payments was minimal, with only about 624,000 USDC transfers recorded. The launch day was dominated by memecoin trading, causing token prices like TOLLY, LONG, and COOL to drop 56% to 77% from their highs. Despite participation from major firms like BlackRock and Visa, the memecoin focus led to criticism and skepticism about the chain's future as a serious payment platform. The blockchain itself performed technically well, but the memecoin-driven activity overshadowed its institutional ambitions, raising questions about its market positioning and user base development going forward.
The story of Circle's institutional Arc blockchain launch is provided here with Pluang's market data for context. For readers following major cryptocurrencies, 44 of 50 rose today while 5 fell. Notable movers include SNX at Rp3.650 (+4.29%), GRT at Rp319 (+4.23%), and AVAX at Rp133.648 (+4.19%). This snapshot is as of Sep 17, 2026 18:03 WIB.
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