Circle's Arc network debuts with memecoins dominating day one
- —7.83 million transactions in the first 24 hours, with the average fee quadrupling to $0.03
- —About 624,000 USDC transfers in total over the network's lifetime
- —Around 400,000 new accounts opened and more than 73,000 smart contracts created
- —TOLLY fell 56%, LONG dropped 77% and COOL lost 75% from their launch peaks
Why it matters: Arc's launch highlights the gap between Circle's institutional ambitions and the real demand, which so far comes from speculators.
Source: Koin Bülteni