#Arc生态热门代币波动加剧 Arc Network's First Real Test: USD 72 Million in 24 Hours — So Why Did ARGUS, LONG and COOL Collapse?
Arc Network, Circle's stablecoin-focused Layer-1, launched its mainnet and produced USD 72.6 million in DEX volume in its first 24 hours. On the same day, ARGUS fell more than 40%, LONG more than 70%, and COOL 75%. Is this an ecosystem collapse, or the inevitable first shakeout of every new chain?
The story is familiar. ARGUS, the first project on ArgusPad, rocketed from a USD 2.8 million market cap to USD 36 million at mainnet launch; one trader turned USD 1,200 into 302x. "Early buyers win" worked again — and then the page turned.
Arc Explorer data says interest has not faded: 57,400 transactions in 24 hours, 9,845 active liquidity pools, and 5,300 new pools added in a single day. So why did prices drop so hard? Three signals:
1. Thin liquidity. ARGUS sits at a USD 19.4 million market cap, TOLLY USD 6.2 million, LONG USD 1.9 million, COOL USD 1.5 million, ARCAT USD 886 thousand. Most of them trade under one million dollars a day.
2. Profit-taking. ARGUS/USDC is still the network's most-traded pair: USD 15.1 million in 24 hours.
3. An opacity gap. Holder distribution is unclear, so a single whale sale moves an order book this thin out of proportion.
The pattern is always the same. First hype, then the shakeout, and finally liquidity. The real test for Arc is whether the USD 72 million in volume actually sticks.
What would you do — buy the dip, or wait on the sidelines? 👇
High volatility, thin liquidity. This content is not investment advice. Always perform your own research before making financial decisions.
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