#Arc生态热门代币波动加剧 #Gate广场中秋团圆局

#Arc
Arc’s first 24 hours are already showing two completely different stories: the network itself is attracting real activity, while several early ecosystem tokens are experiencing extreme price discovery. That distinction matters. A new chain can show strong infrastructure adoption without every newly launched token having deep enough liquidity to support stable valuations.

① Mainnet Scale — The First Signal Is Usage

Arc officially went live on September 16, with more than 100 applications and over 100 institutional and ecosystem builders participating around launch. The network uses USDC as its native gas currency and is designed for deterministic sub-second finality. Day-one infrastructure also includes Aave, Morpho and Uniswap, while Circle has highlighted institutional validators including BlackRock, DTCC, Mastercard and Visa.

The latest on-chain numbers make the launch more measurable. Gate reported that Arc recorded 7.76 million transactions on its first trading day, with USDC transfer volume approaching $1 billion, Uniswap volume above $410 million, more than 700,000 new addresses, and over 840,000 total addresses. These figures are far more useful for evaluating network traction than simply looking at token prices.

② Liquidity — The Missing Piece Behind Huge Price Swings

The early token market tells a very different story. Initial reports showed LONG around a $7.76 million market cap with only about $324,000 liquidity, COOL around $6 million market cap with approximately $360,000 liquidity, while ARGUS had roughly $540,000 in liquidity. That relationship is important: when liquidity is small relative to market capitalization, relatively modest buying or selling can create disproportionately large percentage moves.

This is why a -40%, -70% or -75% headline should not be analyzed in isolation. The better question is what happened to volume, liquidity depth and price recovery after the initial sell-off. A token that falls sharply but quickly rebuilds volume and liquidity is behaving differently from one that falls sharply while both liquidity and activity disappear.

③ ARGUS vs LONG vs COOL — Measure Recovery, Not Just the Drop

ARGUS is closely connected with the Arc ecosystem launchpad, LONG is positioned around an Arc trading/launchpad and on-chain intelligence platform, while COOL is a community token built around USDC. Gate has now added ARGUS, TOLLY and COOL perpetual contracts, alongside bot and copy-trading functionality, giving these assets additional market infrastructure but also making derivatives positioning another variable to monitor.

The current comparison should therefore use four numbers for every token: 24H price change + 24H volume + available liquidity + percentage recovered from the intraday low. That creates a much better picture of market quality than ranking tokens only by their largest percentage decline.

For example, current on-chain data shows LONG around $0.00330, with roughly $7.7 million in 24H volume and a recorded all-time high of approximately $0.01349 on September 16. ARGUS has also shown substantial turnover, with OpenSea reporting roughly $29.9 million in 24H volume and more than 12,000 holders at the latest update. These numbers demonstrate how quickly price discovery and trading activity can expand during the first phase of a new-chain launch.

The broader Arc DEX picture is also significant: reported 24H DEX volume reached approximately $82.17 million, with around 478,500 transactions and 4,537 active liquidity pools in one early snapshot. ARGUS/USDC accounted for roughly $25.18 million of that volume, while TOLLY/USDC recorded approximately $10.56 million. These figures show that activity is not limited to a single token, although the distribution of liquidity remains highly uneven across pairs.

There is another important distinction around the name ARC itself. Circle completed a 10 billion ARC genesis mint, but this does not mean that a publicly tradable ARC token has been launched. Circle has described the mint as a technical milestone, while Arc continues to use USDC as its native gas asset. Therefore, the 10 billion figure should not automatically be interpreted as circulating supply, public market capitalization or a token valuation.

For Gate Square, the most useful way to follow Arc from here is to separate network adoption from token speculation. Network adoption can be tracked through transactions, active/new addresses, USDC transfer volume, DEX volume, applications and liquidity pools. Token health can then be measured through volume consistency, liquidity depth, holder growth, recovery from intraday lows and whether trading activity remains after the initial launch excitement fades.

The first 24 hours have therefore produced a more interesting signal than simply “Arc tokens crashed” or “Arc tokens pumped.” The infrastructure is generating measurable activity, while the token layer is still going through extreme price discovery. The next stage will be whether liquidity becomes deeper, whether volumes remain organic and whether users continue interacting with applications after the first wave of attention disappears.

That is the data I would keep on the Gate Square dashboard now: 7.76M+ transactions, nearly $1B USDC transfer activity, 700K+ new addresses, $410M+ Uniswap volume, DEX liquidity depth, ARGUS/LONG/COOL 24H volume, market-cap-to-liquidity ratios and recovery from the launch-day lows. Those numbers can tell us much more about Arc’s actual ecosystem development than a single red or green percentage on a newly launched token. @Gate_Square @Gate_Square