Arc Mainnet Goes Live for Two Days: DEX Trading Volume and Fees Both Drop Sharply
On September 18, Dune data showed that two days after Arc mainnet went live, the number of wallet addresses surpassed one million, reaching 1.02 million. However, after it was discovered in a team livestream that the Arc team is led by people of Indian origin, community panic ensued. Arc’s DEX trading volume fell from more than $415 million on day one to $130 million, a drop of over 68%. Network transaction fees fell from $279,000 on day one to $49,900, a drop of over 82%.
On September 18, Dune data showed that two days after Arc mainnet went live, the number of wallet addresses surpassed one million, reaching 1.02 million. However, after it was discovered in a team livestream that the Arc team is led by people of Indian origin, community panic ensued. Arc’s DEX trading volume fell from more than $415 million on day one to $130 million, a drop of over 68%. Network transaction fees fell from $279,000 on day one to $49,900, a drop of over 82%.