Arc Stablecoin Market Capitalization Rises as Global Total Falls

Stablecoin market capitalization on Circle’s Arc network reached $830.41 million in an Oct. 23 reading, rising 33.52% over seven days while the broader all-chain total fell 0.67% to $300.868 billion. Arc’s tracked value increased during a week when aggregate stablecoin capitalization across chains declined.

USD Coin (USDC) represented $820.26 million of Arc’s total, or 98.78%. EURC stood at $9.39 million, while Agant GBP (GBPA) was valued at $768,061. The figures show that Arc’s tracked stablecoin capitalization was concentrated in USDC, with substantially smaller amounts in the other listed assets.

An earlier Arc reading put capitalization at $670.74 million on Oct. 19, with USDC at $661.54 million. That snapshot was captured at 11:09 p.m. ET Oct. 19 (03:09 UTC Oct. 20). The Oct. 23 reading gives a date but no observation hour or time zone, so the two observations do not support a precisely timed comparison.

Arc is a Layer 1 network aimed at financial markets and real-time money movement. The network charges transaction fees in USDC. Circle co-founder, Chairman and CEO Jeremy Allaire said at launch, “USDC was step one. Arc is the network built for what comes next.”

Arc’s fee model gives USDC a role in network transactions, consistent with its dominant share of tracked capitalization. The figures do not establish that the fee structure caused USDC’s share or the recent increase. They also do not identify whether the rise came from new issuance, transfers from other networks or another source.

Capitalization measures the combined market value of stablecoins tracked on a network. It does not show how many tokens were used in transactions, how many users were active or whether tokens moved for payments, trading or another purpose. The Oct. 23 readings describe the scale and composition of tracked stablecoins, not the reason Arc’s total changed.

Arc’s figure covers one network, while the broader total covers stablecoins across chains. The global decline does not establish that Arc’s increase came from funds withdrawn from other networks; the readings do not show transfers between chains.