Circle’s Arc Blockchain Sees Heavy Memecoin Trading on Launch Day

Circle's Arc blockchain, designed for institutional finance and payments, saw its launch on September 16, 2026, dominated by speculative memecoin trading. Despite backing from major institutions like BlackRock and Visa, the network processed approximately 7.83 million transactions in its first 24 hours, with decentralized exchange activity reaching $82 million, largely driven by tokens like TOLLY, LONG, and COOL. The network recorded 400,000 new accounts and 73,000 deployed contracts, mirroring early speculative trends seen on other institutional-focused chains.