Arc, Circle’s Layer-1 blockchain, saw its stablecoin market cap reach approximately $670.75 million on October 19, 2026, a 30.05% or roughly $155 million increase in just one week. USDC accounts for $661.55 million of that total, representing 98.63% of the chain’s stablecoin supply. Total value locked on Arc stood at $792.96 million. Daily active wallets have dropped 94% from their launch-week peak, revealing a disconnect between capital inflows and user engagement. The platform is backed by major names including BlackRock, Visa and Mastercard, but significant concentration of supply among a limited number of addresses presents elevated risk.
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