The onchain rally led by Robinhood Chain has cooled since the start of this week, with major cryptocurrencies pulling back and traders turning their attention to Arc Chain, which is scheduled to go live on Sept. 16. Arc Chain is being developed by stablecoin issuer Circle and is positioned as an open blockchain network aimed primarily at institutional users. That positioning has fueled debate over whether the network will embrace crypto-native meme coin culture. Support from platforms has already started to emerge before launch. OpenSea and fomo have both said they will support Arc Chain as soon as it goes live. Circle co-founder Jeremy Allaire has also responded positively to fomo’s launch preview, adding to market attention around the upcoming chain.
According to ChainCatcher, the onchain momentum driven by Robinhood Chain has cooled since the start of this week, and major cryptocurrencies have pulled back. Market attention is now shifting to Arc Chain, which is set to launch on Sept. 16.
Arc Chain is being developed by Circle, the issuer of a stablecoin, and is described as an open blockchain network aimed mainly at institutional users. The market remains split on whether the chain will support crypto-native meme coin culture.
OpenSea, fomo and other platforms have said they will support Arc Chain immediately after launch. In response to fomo’s launch preview, Circle co-founder Jeremy Allaire has already given a positive response.
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