Circle’s Arc Network Surpasses $1B in USDC as Stablecoin Cap Jumps 32%

The headline number matters less than the concentration behind it: four addresses holding roughly 73% of Arc's USDC means the network's billion-dollar milestone reflects a handful of large allocators rather than broad-based demand. That cuts both ways — it signals real institutional-scale usage, but it also makes the network's stablecoin base fragile to a single participant reallocating. The 32% weekly jump in market cap is notable precisely because it coincides with such a narrow holder base, so whether the concentration eases as the base grows is the open question worth watching.