$833M of stablecoins moved onto @arc in the last 30 days. that’s +137%, while the rest of crypto lost $16B.

but no one uses the chain.
same 30 days on arc:
> stablecoins: +137%
> trading volume: -62%
> active wallets: -83%
more money, fewer people, less trading.
so where did the money go?
on oct 14 at 21:19 utc, 4 brand-new wallets each got a $1 test payment. all 4 within 16 seconds, from the same sender.
between oct 19 and nov 12, that sender filled them with $375M, in $75M chunks. it gets its usdc freshly minted by circle.
those 4 wallets haven’t moved a dollar since.
that’s 45% of all the new money on arc, sitting in 4 wallets doing nothing.
the same sender filled a 5th wallet back in september. it still holds $234M.
5 silent wallets = $609M = 43% of all the usdc on arc.
compare it to robinhood chain. it holds less money than arc ($1.0B vs $1.44B), but it has 20x more weekly users and 34x more trading volume.