Circle's Arc chain sees heavy meme coin activity on launch day

Circle's institutional-grade blockchain, Arc, processed approximately 7.83 million transactions on its launch day, Sept. 17. However, USDC payment usage remained low, with only 624,000 transfers recorded. DEX volume reached $82 million, significantly lower than the volume seen on the Robinhood Chain during its recent meme coin surge. Several meme coins on Arc, including TOLLY, LONG, and COOL, experienced sharp declines, while the largest token, ARGUS, reached a market cap of $16 million.