Robinhood Chain Market Cools Down, Market Awaits Arc Chain Launch

On September 10, the on-chain market driven by Robinhood temporarily cooled down, with mainstream cryptocurrencies experiencing a pullback. The market is pinning its hopes on the launch of Arc Chain on September 16. Arc is an open blockchain network developed by Circle, the issuer of the Arc stablecoin, primarily targeting institutional users. There are differing opinions in the market regarding whether Arc will support the native meme coin culture of cryptocurrencies. Several crypto platforms have announced support for the Arc Chain, including the NFT trading platform Opensea and the meme coin platform fomo. Circle co-founder Jeremy Allaire responded positively to the fomo launch announcement, hinting at support for the native crypto community. Whether Arc can continue the on-chain enthusiasm after its launch remains to be seen by the market.

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