Circle's CRCL$83.05·Market Closed Arc blockchain went live Wednesday with BlackRock, Visa, Mastercard and DTCC among 11 founding validators, and CEO Jeremy Allaire calling it the most significant launch in the company's history since USDC itself.
How Circle’s institutional Arc blockchain got taken over by memecoins on day one
Circle's CRCL$83.05·Market Closed Arc blockchain went live Wednesday with BlackRock, Visa, Mastercard and DTCC among 11 founding validators, and CEO Jeremy Allaire calling it the most significant launch in the company's history since…
Oliver Knight
Publisher CoinDesk
Sep 17, 2026 at 11:42 AM UTC · 1 분 소요
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7.83M First-day transactions
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번역 중…
The chain processed 7.83 million transactions in its first 24 hours, but almost none of it was payments. Lifetime USDC transfers stand at about 624,000, according to Arc's Blockscout explorer. Some 400,000 new accounts appeared in a day, and more than 73,000 contracts were deployed. Average fees quadrupled, to three cents.
Memecoins were filling the blocks, leading to some traders writing the chain off.
"Arc is one day old, and every coin is already down like 50-80%," trader wale.moca posted on X. Asked whether it might recover, he replied: "It's cooked." Another user called it a one-day arc.
Memecoins prices on Arc are consistent with the negative sentiment, with TOLLY down 56%, LONG 77%, COOL 75% from launch highs.
Follow the Story
- Sep 17Circle Launches Arc Mainnet With BlackRock, Visa and Mastercard as Validators
- Sep 17How Circle’s institutional Arc blockchain got taken over by memecoins on day one
- Sep 17Coinbase, Circle recover as SEC opens tokenized stock path
- Sep 18Circle launches Arc Studio AI agent for building onchain apps
- Sep 17Circle Launches Arc Mainnet With BlackRock, Visa and Mastercard as Validators
- Sep 17How Circle’s institutional Arc blockchain got taken over by memecoins on day one
- Sep 17Coinbase, Circle recover as SEC opens tokenized stock path
- Sep 18Circle launches Arc Studio AI agent for building onchain apps
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Originally reported by CoinDesk
NewsLayer coverage based on externally reported material.
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