Arc Stablecoin Supply Jumps 33.51% While Totals Slip

Arc stablecoin supply rose 33.51% over the past week to about $830.34 million. That figure comes from DefiLlama’s Arc tracker. The global stablecoin float slipped in the same window. Almost all of that Arc balance is Circle’s USDC. The chain is growing dollar inventory as the wider market sheds it.

That is the plain read. Liquidity did not vanish this week. It moved.

What Arc Stablecoin Supply Numbers Show

DefiLlama’s October 23 snapshot puts Arc near $830.34 million in stablecoin capitalization. That is up from roughly $622 million a week earlier. Pegged-dollar tokens make up the bulk. Smaller euro and sterling balances sit on top. USDC alone accounts for about $821 million on Arc. That is roughly 98.9% of the chain’s stablecoin float, with a weekly gain near 34%.

Across all issuers and chains, DefiLlama’s asset totals put the global market near $304.89 billion. That is about $1.25 billion lower than a week ago (down 0.41%). Tether (USDT) still leads at about $182.51 billion, or 59.86% of supply. USDC ranks second at about $72.10 billion.

So the Arc spike is not a rising tide lifting every chain. It is a named network taking a larger share of a slightly smaller pool.

What Arc Is in This Story

Arc is Circle’s open Layer-1. The company frames it as a settlement chain for stablecoin finance. Circle’s August 2025 introduction and the Arc Network site spell out the pitch. Arc is EVM-compatible and enterprise-facing. Fees are meant to stay predictable in stablecoins, starting with USDC, rather than a volatile gas token.

You do not need the full product brochure to read this week’s chart. When one issuer’s dollar token dominates a chain’s stablecoin balance, the weekly jump is mostly a USDC location story. More USDC is sitting on Arc than sat there seven days ago.

Why a Shrinking Float Makes the Jump Louder

Global supply is down about $1.25 billion. That is a soft week for the dollar-stable market as a whole. Redemptions, rotation into other assets, or quiet inventory cuts can all trim the edges. Against that backdrop, a 33.51% Arc gain is a relative migration signal. It is not proof that demand for all stablecoins suddenly returned.

For readers tracking where dollar liquidity prefers to rest, the non-obvious stake is concentration. Arc is still mid-pack by size. It holds hundreds of millions, not tens of billions like Ethereum or Tron. A one-week third of supply can rearrange local depth for swaps, collateral, and payments experiments on that rail. It does not rewrite the global USDT/USDC rank order.

Unknowns remain. DefiLlama reports circulating balances. It does not by itself explain the path of the Arc increase. Fresh USDC mint-and-bridge flows, CCTP-style moves from other chains, or treasury redeploys inside Circle’s stack are all possible. Commercial intent behind the week’s transfers is not in the public float tables. What the tables do show is clear enough for a daily wire. Arc float is up sharply. USDC dominates that balance. The broader market is slightly smaller than it was a week ago.

The peg promise is still the same question it always was. This week’s answer is about which chain is holding more of the tokens that make that promise.