USDC cross-chain to Arc—purchased at a premium of 80% to 100%, like being raised up to it. This is not arbitrage; it’s buying an entry ticket.
About two hours after Circle’s (the stablecoin issuer) Arc mainnet went live, the total on-chain USDC reached 372 million units, roughly 0.05% of the total USDC supply. The number of addresses is about 176,000. Some of this capital had already been cross-chained into Arc before the mainnet launched. At that time, the price of USDC on Arc was 80% to 100% higher than 1:1. In other words, before they even encountered early Meme coins, they had already paid nearly double the cost just to get in.
As for the route of these 372 million USDC units, details aren’t visible at the moment. My guess is that it includes both newly added funds after launch and that earlier batch that crossed over ahead of time. The 176,000 addresses also don’t allow us to tell how many are real users versus how many were “jump-the-gun” accounts.
The next thing that can be verified is the price movement after the early Meme coins on Arc open. If the post-listing gains can’t end up covering that 80% to 100% entry premium in reverse, then these high-cost USDC could become the source of supply for the first wave of concentrated selling. If the price rise does match the corresponding premium, then the story of entering at a premium would be considered valid.
About two hours after Circle’s (the stablecoin issuer) Arc mainnet went live, the total on-chain USDC reached 372 million units, roughly 0.05% of the total USDC supply. The number of addresses is about 176,000. Some of this capital had already been cross-chained into Arc before the mainnet launched. At that time, the price of USDC on Arc was 80% to 100% higher than 1:1. In other words, before they even encountered early Meme coins, they had already paid nearly double the cost just to get in.
As for the route of these 372 million USDC units, details aren’t visible at the moment. My guess is that it includes both newly added funds after launch and that earlier batch that crossed over ahead of time. The 176,000 addresses also don’t allow us to tell how many are real users versus how many were “jump-the-gun” accounts.
The next thing that can be verified is the price movement after the early Meme coins on Arc open. If the post-listing gains can’t end up covering that 80% to 100% entry premium in reverse, then these high-cost USDC could become the source of supply for the first wave of concentrated selling. If the price rise does match the corresponding premium, then the story of entering at a premium would be considered valid.