Circle-backed public blockchain Arc is scheduled to go live on Sept. 16, and speculative positioning has already picked up ahead of the launch. According to BlockBeats, traders are looking for early exposure after the market saw outsized returns in tokens such as CASHCAT following the earlier launch of the Robinhood chain. That expectation has helped create demand for Arc-native liquidity before the network officially opens.
Third-party venues have now emerged offering swaps from Ethereum mainnet USDC into Arc-chain USDC. Data cited in the report shows Arc-chain USDC is trading at a premium of nearly 100% to Ethereum mainnet USDC. One leading platform has already matched 11,660 swap transactions with cumulative volume above $5 million, while charging a 3% service fee on those trades.
BlockBeats also said several crypto-native platforms have announced plans to support Arc as soon as it launches, including NFT marketplace Opensea and meme token platform fomo. Circle co-founder Jeremy Allaire also responded positively to fomo’s launch notice, a move BlockBeats described as a potential signal of support for the crypto-native community. Whether Arc can sustain current on-chain enthusiasm after launch remains to be tested by the market.
Arc, the public blockchain under Circle, is set to officially launch on Sept. 16, with speculative activity already building a day ahead of the rollout.
According to BlockBeats, the move comes as traders look for ways to position early on Arc after the earlier launch of the Robinhood chain produced token returns in the 1,000x and 10,000x range for names led by CASHCAT. That backdrop has pushed on-chain capital to search for ways to enter before Arc goes live.
Third-party swaps appear before mainnet launch
Third-party platforms are now offering a market for converting Ethereum mainnet USDC into Arc-chain USDC before the chain officially launches. Data cited in the report shows Arc-chain USDC is trading at a premium of nearly 100% compared with Ethereum mainnet USDC.
One leading platform has already matched 11,660 swap transactions, with cumulative trading volume exceeding $5 million. The same platform charges a 3% service fee for these transactions.
Crypto-native platforms line up support
BlockBeats previously reported that multiple crypto-native platforms plan to support Arc as soon as the chain goes live. Those platforms include NFT marketplace Opensea and meme token platform fomo.
Circle co-founder Jeremy Allaire also gave a positive response shortly after fomo announced its planned launch support. BlockBeats said that response could be read as a potential sign of support for the crypto-native community.
Market still has to test post-launch demand
Whether Arc can carry forward the current on-chain momentum after launch remains for the market to decide.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
