ARCAT Market Cap Surpasses $5M Before Dropping 40% From Peak

ARCAT, a meme coin on the Arc blockchain network of Circle ($CRCL), saw its market capitalization temporarily surpass $5 million (approximately ₩68 billion) before declining by about 40% from its peak to around $3.5 million (approximately ₩47.6 billion). BlockBeats reported using GMGN data that ARCAT's 24-hour price increase was 1288% and trading volume reached $1.6 million (approximately ₩217.6 million) over the same period. Following this peak, prices dropped approximately 40%, causing market capitalization to decrease accordingly.

ARCAT is a meme coin traded on Arc, Circle's blockchain network. The Arc mainnet launched on the 16th, initially using USDC for gas fees. After launch, trading activity surged for new tokens, rapidly increasing ARCAT's market cap and volume. However, the upward trend did not continue. Given that Arc mainnet is in its early stages with low liquidity across multiple tokens, price volatility remains a concern.