Robinhood Chain temporarily stalls, market awaits Arc launch for "relay rally," Circle co-founder may support on-chain speculation

BlockBeats news, September 10 — Since the start of this week, the on-chain rally driven by Robinhood Chain has temporarily cooled, with major cryptocurrencies pulling back. As a result, the market is pinning its hopes for the next rally on Arc Chain, which is set to launch on September 16.

As an open blockchain network developed by Circle, the stablecoin issuer, Arc primarily targets institutional-grade users. The market is sharply divided over whether Arc will strongly support crypto-native meme coin culture.

Before that, however, several crypto-native platforms have announced they will support Arc Chain at launch, including NFT marketplace OpenSea and meme coin platform fomo. In response to fomo's launch teaser, Circle co-founder Jeremy Allaire also responded positively right away, which can be seen as a potential signal of support for the crypto-native community. Whether Arc can successfully carry forward the on-chain frenzy after launch still needs to be verified by the market at that time.